I added to the FB equity long position yesterday to bring it to 2/3rds of a full position size and said I'd wait for a pullback to add the last 1/3rd, that may be soon.
FB is now giving some signals that are spectacular. The first time we traded this and many of you made over 100% with calls, EVERYONE HATED FB, no one would consider going long, but we had evidence showing the underlying trade as being accumulated, now we have some new and interesting evidence in what is still probably the most hated IPO if not stock ever.
The 1 min chart shows the positive divergence just before take off and then a negative relative yesterday, for now, I'll wait to see how this chart develops before making any decisions.
The 2 min chart is leading positive
This is the big news though, at our suspected and anticipated base area, the 15 min chart is leading positive, that's not all...
The same 15 min chart since FB started trading at an all time new leading high.
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