The FB position

FB and BIDU are two stocks that have not been heavily correlated to the market, they've been off doing their own thing. I took a longer look at FB, one of the most hated stocks.

 Stage 2 is above the green arrow. We expected a deeper pullback at least to the support line, but that was when FB was further away from support, this move definitely will pull shorts in and shorts provide supply for accumulation. I'd still rather see the 15 min chart's base longer, but FB is a new issue and can't be expected to trade like a mature issue.

 The 2 min chart could have easily confirmed the downside in FB, it hasn't. The recent lateral range had shown some signs of accumulation, which makes me wonder if this sharp break is being used as a bear trap and sort of ignition source on a squeeze; the possibility is worth the extra 20% position size.

 The 5 min chart today showed an extremely strong leading positive move.

It's the 60 min chart though overall, I think if this was a real move down in FB, we'd see clear signs of distribution and there are none.