Update FCO.TO

I filled at 1.63 ... If you're going to take a chance... measure your risk... and if there is an average of 98% probability... either your in or not... My buy was small... just a couple 1000

In adddition there were two gap downs, which is a signal in itself that capitulation is in the wind... it is not often you will get two gap downs in a row....... and not bounce.............. even without a bollinger peircing.

I would prefer a ranging peircing but I like FCO.TO and as the market is overbought.... (still bullish though)  FCO is not overbought... but extremely oversold such that RSI  (under 30) is indicating an extreme bottom ............ it seemed that technically with a tight mental stop...  it was time to make a first attempt at catching the bounce...

It is just pure luck PG mentioned it...  and the timing as far as charting was concerned was in the area... (PG and I don`t agree too often when it comes to charting)... of extremely oversold... in the event that it fails... it is not like I paid 2.50 and am holding... I`ll be posting a chart soon... come back to this post...

In this chart I have used Accelleration bands which produce results much like a bollinger for lower band peircings... add in the ringed bottom ... a series of the 3 latest lows where the middle tick is the lowest...
factor in we are at a support level... color in an RSI reading under 30 and we have a pretty strong bottom signal from various counts. No gauantees though.. keep a tight mental stop and don't follow the price below the middle low of the ringed low... ( the first three ticks under the lower band where the low of the middle tick is our  mental stop)...

GLTA Lostoutwest


If you see the hand mousing over screen shots... click on screen shots to enlarge them.

After connecting to a link... you should refresh the page by clicking on the Home button or the Web Page title to ensure the latest updated page

|| Stockcharts Public List ||

|| Kenuck SmallCap Trader || The Gold Report || Korelin Radio || StockCharts You Tube Lessons || Money In Metals || Resource Clips || Stockhouse || Ticker Trax || Bullion Bulls Canada || Lex corp || Track My Trade || National Post || Grandich || Penny Stock Journal || FreeStockCharts || Gold$eek Drill Results 101 || CBCnews || Seeking Alpha || SmallCapPower || Macroaxis || GOOGLE

Please read our Complete Disclosure