FB Charts

The short term FB long trade mentioned yesterday looks done to me, I know we have at least 1 member who made +88% on the trade in 1 day, I'm assuming there are many more so it was definitely worthwhile.

The longer term charts saw some constructive action today (we had been looking at FB as a longer term trade until yesterday's came along) so I continue to look forward to seeing what else we can try to pull out of FB while everyone else concentrates all their effort on talking bad about the stock-if it shows the right signals, we'll short it to, but it's just a stock, just a way to make money, no need to love or hate it.

 The earlier triangle consolidation brought more gains, for those looking at this new triangle consolidation which is much bigger, just remember that it is in these flat areas where institutional money is active, although to anyone looking at price it would certainly seem otherwise.

 1 min not looking good

 2 min at a new lower low and leading negative-we only have probabilities to base our decisions on and the probabilities here say the trade is over.

 The 3 min chart nearly screams the trade is over.

 And the 5 min chart does scream the trade is over, this is an important timeframe.

However for the longer term trade we have been monitoring, the action in the 15 min chart today looks VERY constructive, look at where 3C is now vs the past and where price is, it seems institutional money is MUCH more active in the stock on the long side. That doesn't mean it won't come down lower, if I'm not chasing the stock higher, believe me, they aren't either.