Monday, July 16, 2012

FB 1/3 position

So far I like what I see in FB, I'm going to open 1/3 size of a normal position in the options model portfolio in FB Aug $28 calls. The position size as is already denotes a speculative position size, I don't really mind entering a full position size in FB should the charts hold up or strengthen.

 The leading positive 1 min chart I showed earlier...

 Zoomed in to intraday trade, I like the way it looks with price forming a rounding type bottom.

 It almost seems like FB was kept in that consolidative range to establish a level of support which the market would key off, note all the volume on the break below that level, most of it I'm sure are short sellers.

The intraday rounding type bottom



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