FB Update

As I wrote first thing this morning:

"With FB looking to gap up about +27%, you might want to consider taking some profits, and let some run"

The opening craziness and volatility is a time I usually try to avoid, but in this case it worked well for our purposes. I closed a little less tan half of the FB position, I'm hearing from a lot of you who have taken partial profits and many playing options taking full profits with some really impressive gains.

In any case, I really don't see much more on the upside for the near term in FB. In case anyone asks, I also Do NOT see this as the opportunity to add to FB, although I am betting we will get a chance.

 FB 1 min intraday, as you can see, the open or even pre-market was the best time to take profits, what a GREAT move in FB today and a GREAT example of patience paying off, so long as that patience is backed up by an edge and facts.

 3 min FB intraday not looking any better, looking worse.

 5 min

 The 15 min trend is why I believe FB has much more upside as it enters stage 2 mark up, but

near term I think this move has peaked for the moment.