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David,
Without spending too much time I would say hold your position. If my brain
doesn't get too turned around I might join you on your short. Compress your
data to weekly. The writing is on the wall. Looking at last weeks bar is very
compelling. If it stays below 34 1/2 by Friday it will not move higher. What
you are seeing with the pull back and rally will tell the tail. If it doesn't
break out, then you will be ok. I would look to take a position in the 33 to 34
dollar range if you get the chance. I know nothing of the fundamentals of this
company but I received in the mail one of those newsletters that had FE on it's
Black List. (or get rid of list.)
Harley
David Walton wrote:
> Ok, Harley and other "short specialists", would you have a minute to take
> another look at FE? It has pulled back nicely and I am making the decision
> to cut my losses or hold for more pullback. I opened the position at 30
> 3/16 and I'm thinking being short a utility right now may not be the sanest
> thing in a bear market. Short term trading here. If you get the time for
> a peek at the chart I thank you for your opinion and will treat it as just
> that (not advice).
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