FMG has bounced ~35% from its September low. Although we made a profit yesterday in our “Trading Ideas” section with a quick +25% return, we’re comfortable holding our longer-term position in our Income Portfolio. After such a sharp rally, we wouldn’t be surprised to see FMG trade between $19 and $23 over the coming weeks.
- We are cautious about chasing FMG into strength, but the risk/reward now looks good in dips below $20 – MM owns FMG in our Active Income Portfolio.
MM is long and bullish FMG for income
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