RE:RE:RE:RE:RE:levelslisten, this doesnt need to be a pissing match here. Iam a long on FAT and always will be. iam one of the good guys but you simply cant ignore technical analysis mixed with fundementals. the news releases as of late were fluff and barely had substance. it was just to get the information "out there" to get us thinking and holding. Basically like a little reminder of whats to come as most of you panic.
you can call it irrelevant all you want but for FAT in particular it was not. Joe Mas did a terrible job shorting this because he barely shorted it to begin with. an increase of 200k shares short when he claimed to short it...thats peanuts.
right now if i had to guess, we have the biggest short position on FAT then we have ever had. we wil see when the short data comes out but i would say around 6-7 million. I believe some shorts happend to cover the other day on larger volume ( i believe it was 2 days ago)
now technically speaking, its at the tipping point and tomorrow will really tell where we stand in the short term. The MA's equal each other exactly and they will either A) cross or B) bounce off. For us bulls we want to see it bounce off like it has in the past. If it crosses down over the 20MA we could see as low as 51 cents Canadian. If the bounce happens then i could see a quick bounce around 55-56 then up we go from there. Personally i see news coming out next week which would perfectly time the technicals with an oversold situation and thus bringing us back up to a dollar.
everyone have a good night and ill talk to you guys tomorrow
--LEVELS--