PPR - Fusion I/O, Inc. (FIO) Logs a Pocket Pivot on a New Closing High
| Published: | 15 Jul 2011 23:35 ET |
FIO, which did not hold up into the close on its pocket pivot attempt this past Wednesday, did recover and posted an all-time closing high today as it logged a bona fide pocket pivot buy point as it cleared the 33 price level. The stock tends to be volatile, so we are using a hard stop of 29.95, giving the stock more room than usual. Accounting for such volatility by using a deeper stop in turn dictates that one might also take a smaller initial position size depending on one's risk tolerance.
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