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But now we have one lovely volume pattern and two white candles:
The high of the day was $1.04, which was the low of that horrible red candle back in October. The stock has retreated a bit because of that short term resistance in today's session.
That leaves a considerable higher shadow which will probably prevent FLYI to gap higher tomorrow. I prefer to buy the open when this happens. I don't know if the stock has enough demand behind it to cross the $1.04 barrier, but I will pay to see.
If it fails, I'll dump it. If it closes above 1.04, it will sky rocket to the moon in the short term.
So, this trade will be fast. I'll buy at the open tomorrow and if close<1.04=> SELL. If close>1.04=> HOLD
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David Randolph
www.3stocksonfire.org
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