FE bottomed with a butterfly-looking pattern (see my weekly chart). If it busts my downtrend line, the stock should move to $55/share or so where I see resistance. So, you've got 14 bucks up and a couple bucks down if you put your stop under $40/share. Just realize it's a slow moving stock.
Sorry Darth -and others-, but our stock (named MERVAL)is an OIL STOCK: only PBR and TS move our insignificant index in one or the other direction because of the price barrel.
In the other side, we never have/had credits and subprime is only a word at this moments.
A`picture for the boards: only 44 millions in 2.8 million KM2 (empty in comparison with Orient). Very very very rich. But only produce the same money like Michigan state or below. (remember USA is not a country > is a continent!!)
That's the point > no money here (argentines keep their money overseas but the last year -we- believe more in properties, lands or gold/silver** against dollars) and the cheapest lands you can find everywhere. Full of potable free water. Ridiculeus taxes. _________________________________________________________________
** GOLD / SILVER HERE: We have been paying 10% more than the market price in fisic metals for the last decade or more. Argentine produces gold and receive a little more from PERU. Because of free taxes, the metal runs from Argentine/Peru to Montevideo (Uruguay) and then to USA, Europe or Switzerland.
Uruguay is changing the laws and all the gold stop the business.
So, remember no money here, the traders has to live anyway and the last 4 months everybody can buy GOLD or SILVER 10% below market price!!
Is not a joke. If we see at KITCO 887/oz we can get it arround 800
(our portfolio -bought two years ago at 570/700- has 40% in metals stand by: waiting what happens with the banks) ________________________________________________________________
Remember USA is repeating the same horrible mistake like Argentina: $$$$$ the machine don't stop making dollars or bonds... where do we go??
Who'll borrow money to C? MS is very poor too and AIG just receive Bernanke's money send this to Goldman.
Resume > In our country only GOLD or SILVER right now. (Or you can buy a lake in the south without any kind of flu virus)