FVI, Fortuna update

fvi aug 2012

We recommended this as a buy at $3.79 despite our target of $3.50 to the downside. Patience is everything. The upside was then expected to reach about $5.30, a 60% retracement. That continues to be more or less valid even if we would prefer to get out just a little earlier, a bit above $5. That equates to a 31% gain in about 4 months. We would take that rather than hope may propel this stock higher. You could be looking at a much larger a-b-c in which the a is from $7.50 to $3, the b from $3 to $5+ and c to follow to close to zero.