I was asked, "If not now, what would be a good price to initiate a long position in FRO." I wish I could answer that question but I can't. I don't see any obvious support on the chart right now. If I were looking to buy it I'd simply wait for it to cool off a bit by pulling back or consolidating. I'd look for stochastic to at least drop into neutral territory and then I'd try to find an entry point which would allow me to place a stop close by. I don't know at what price that might occur. It's just one of those things that I'd know when I saw it.
