"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, November 18, 2011

Old friend Faro Technologies (FARO)

This is a company that I invested in years ago, buying around 4 bucks and selling at 25.  Not bad.  I even had them out to my business to give a demo before deciding their CMM Arms were not for us.  A good solid outfit.

Also, a nice rising wedge amid MACD and Rate of Change bearish divergence.  I shorted old friend FARO yesterday at 46.49.  I guess it's the kind of thing that a hedged, risk managing player does while biding time waiting for the market to confirm some things.

Since I started the newsletter, I very rarely screw around with fun type trading.  This is an exception and no, it is as always, no recommendation for anyone else what so ever.  I have not even checked the funda's of this company.  Just love the chart in an inverse sort of way.

http://www.biiwii.blogspot.com
http://www.biiwii.com

at 11/18/2011 11:57:00 AM
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1 comment:

  1. Like the set up. Some of my best shorts have been on monster ascending wedges.
    Take luck.. ;)
    http://youtu.be/9do7HRaGd00

    ReplyDelete

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