FairPoint Communications FRP

Something's wrong, folks...

[matthew77]

Broken down on the charts, IMHO. Closed out 75% of my position today, after buying back in at .63 last week following sale at .80. What is particularly disturbing is FRP's drop below its 50 day M.A., for the first time since its advance started last fall. I am definitely now waiting on the sidelines to see what happens next with regard to Greece, Peru and Dixie Creek. I suspect, but I don't have definitive evidence, that there are further delays in Greece permitting. At a time when this stock should be rocketing, we are going in the wrong direction. Doesn't make sense. Hence my very defensive posture. I will not be buying on further dips until I see news from the company. I fear we are headed to the 50 cent area real quick.

[mcintma]

No offense, but what changed your mind from 8AM to 2PM today? FRP has been panic selling down for 2 weeks now. Today was the best day we've had in that whole time (up 2c woohoo!). Anyway, just curious what suddenly turned you into a seller today. This stock could really go up on ETR news and is both oversold and fundamentally a solid 'value' based on reserves and potential. Of

[Bsmooth]

Maybe he's trying to get some cheap shares from the herd?

[matthew77]

A technical sell signal was confirmed with today's trading action. From a long term perspective this is still an attractive entry point for FRP, around .60. So some people may wish to accumulate around these levels. But there is risk on the downside at these levels, too----for those who are more short-term focussed. There is likely going to be a better entry point for this stock in

[Bsmooth]

How can you say a technical sell was confirmed today when American Bulls is rating FRP a buy-if? Are they wrong and if so do you know something they don't when it comes to the technicals? https://www.americanbulls.com/StockPage.asp?CompanyTicker=FRP&MarketTicker=VSE&Typ=S Anyway in the end its your choice to dump your position but I for one think that this is just a short term

[matthew77]

Those are good questions and allow me to elaborate. First, I would be careful in placing too much faith in americanbulls.com. I use them as just one tool in an overall analysis, and on many occasions over the past year they have given false signals on FRP. And here's just a recent example - the other day they gave a "buy confirmed" to SOX at $1.35-----the stock tanked a day

[Bsmooth]

Matthew77 thanks for the reply. Some of your points are valid though I hope you are incorrect as I hold a large position of FRP and do not want to see it sink any lower than $0.60. It seems some institutions are viewing this is a great buying opportunity. (Jennings Capital in particular)

[mcintma]

Thanks matthew