Short Setup: FUQI - The Market Speculator

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Short Setup: FUQI
Oct 19, 2009 12:32 AM UTC

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Return	Risk
-8.86%	HIGH

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I pointed to FUQI as a short when it was around $30. I took the trade, which would have been successful had I used a wider stop. It's now broke down below the 50 day moving average and is showing distribution in the volume pattern. I will short on a pullback to the moving average, as long as strength is not on strong volume. The setup here is moving average breakdown off a topping pattern.

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