It looks like my downside Facebook target is getting closer - just a dollar shy at today's low!
As June arrives, I am going to take some time off to travel, enjoy the sun, and take care of some family matters. I might be back later this summer (or, I might just disappear) - check back or subscribe to the feed (top of the page "Subscribe to the Trader-X blog") to be notified when posting resumes.
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ReplyDeleteFacebook continues the slow fall. I may put some 401K money towards it if it hits $25.
ReplyDeleteEnjoy your vacation X!
ReplyDeleteDavid, what did you do to get the new version for free? Thx.
ReplyDeleteTerry, I ordered it because I didn't have the previous version. But there is a link on the site for previous purchasers, I assume that will give you the information.
ReplyDeleteFacebook will be at $100 within a year. I called it here.
ReplyDeleteHave a great vacation X.
Big fan of tad principle, even more since they will give me the new one for free. :) Thanks x.
ReplyDeleteFB is solidly in the 25s! Look out below.
ReplyDeleteHave a good vacation X!
ReplyDeleteJust finished the new tad book, and I give it 5 stars. A lot to digest, so I will go back through it this weekend. But really good stuff if you want to understand your mind better.
ReplyDeleteThe new tad is great, just finished it. Happy Vacation X.
ReplyDeleteLooks like FB moved back up to the retracement zone...if it can break through, I see a double from here!
ReplyDeleteHope your vacation is great X.
Nice call on the downside to Facebook...it really crashed and burned.
ReplyDeleteThe new tad - happiness revealed program was great. Thanks X and I hope you are having a great summer break.
ReplyDeleteMike
re: Facebook
ReplyDeleteI'm calling it on 08/16/12 - a short-term bottom with a bounce back up to $24-25.
Tom
Is this THE Tom? If so, I may buy some FB!
ReplyDeleteNot sure about "THE Tom", but this is the Tom that posted here in the past.
ReplyDeleteI don't see much downside risk in FB from here, and I can't see a scenario where FB isn't higher in 12 months than it is now. So if you are looking for a longer-term trade, I like it. If you are looking for a shorter-term bounce that will yield 20%+, I also think it has a lot of potential.
Tom
The Fri/Mon action was bullish, today neutral. Seems to be trying to put in a bottom but I'm not sure it will hold. Good luck.
ReplyDeleteFB has 5 days of building a nice base Tom, we'll see what Friday holds. At least you have a good place to put your stop!
ReplyDelete09/01/12
ReplyDeleteI was stopped out of my FB call made on 08/16. It looked promising when it was building the base, but the base extended too long (10 days), and that usually is a bearish indication that bulls can't lift off the base. Had I been less "emotionally attached", I would have sold at break-even at some point on days 6-10. Instead, I was stopped out Friday when it broke below that base.
I still think FB is higher a year from now, but I'll move on to another trade!
Have a good long weekend everyone.
Tom
Looks like your call on FB was right TOM...just a little early!
ReplyDeleteDavid, just a little early. It made a nice bounce but didn't quite get to the $24 level...still good for for 25%+ though. You win some and lost some!
ReplyDeleteTom
Tom, I bought the tradethemove.com manual and noticed on their member site they did analysis of Facebook and the Fib overlay called both bottoms almost to the price. Did you use the same concepts in your analysis? Just curious, as I would like to know what you were looking at. Many thanks in advance.
ReplyDeleteDavid, I didn't see tradethemove's analysis, but I use their concepts so it is a safe bet. Basically looking at the Fib extension from that initial down move after the IPO. Worked well, I was just a bit early.
ReplyDeleteTom
Just saying hi and ty for this post.
ReplyDeleteTrader-X,
ReplyDeleteIt's been a while since your last post. Any news on your trading?
thx~
TL
ok
ReplyDeleteTrader X, where are you, bro? It's been 12 months! :D
ReplyDeleteTrader X,
ReplyDeleteEver consider coaching for a fee, or running a prop firm? I'd be interested, if so. I'm an intermediate trader who misses your posts greatly. If you are still in this industry, it would be great to hear from you, sir. Wishing you well.
Big Fan