Market Scheming

Friday, April 8, 2011

Fortuna Silver: FVI.TO exited waiting for entry next week


Fortuna silver (TSX:FVI) has been breaking out very hard last two days.  I mentioned yesterday that I am becoming skeptical as we are trading above the bollinger bands which is considered relatively extreme.  Therefore today I sold my shares at 6.65 and plan to wait for a entry under the bollinger bands next week.  Considering that the price action ended at 6.43 I am confident that a bit more downside could be expected however, this stock I am very excited about.

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