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  • paultradestoday paultradestoday Oct 29, 2008 12:44 PM Flag

    I think we see a scramble soon..and a spike up

    1. there is no credible evidence of redemtions of any significance over the past 90 days; although we don't know what the institutions are doing this week; but the volume leads me to belive that there is no strong selling.
    2. there is no significant data suppoting short covering; the volume is too low;
    3. stock is oversold; by that i mean lots of retail investors were willing to sell this stock and anything China for the past few weeks
    4. for every seller there was a buyer and between 33 and here there are a lot of new owners
    5. good news from SOHU, VISN and AMCN earmings out before FMCN; China cutting rates and supporting internal growth; buyers want in now; those are the few things that are pulling the price up
    6. but it is still a bear market and the shorts can keep it down...that is until FMCN beats the estimates and promises more of the same ...THEN YOU WILL SEE THE VOLUME GO THROUGH THE ROOF.

    I bought more at 12.37 to 12.58 and will sell a little into earnings and buy covered calls too. At ~15,000 shares.

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