Yesterday I posted several times at 3 pm and just after that I'd consider closing a partial or complete position in FB on the great 1 day gain, at least until we see how the lock-up period ending effects the stock and that it was likely we'd be able to re-enter FB at a lower price if indeed the base holds together as I suspect it will.
In any case, those posts yesterday looked to be about as close to the top for the day as you can reasonable expect. I don't see much today that would change my mind about having closed the position yesterday. In fact to me it looks like the edge is wearing thin and I think even if I had not closed the position yesterday, even here at these levels today I would consider it until we see the probabilities are building on the long side.
The 1 min chart which was the chart we were watching for clues about when high enough is enough, after the posts FB fell below the afternoon trendline.
The 2 min chart is helping the short term cause either.
Nor are the 5 min above and 10 min below. The longer trends of some of these timeframes and longer timeframes still look promising, but in the very near future, I think the edge has worn off a bit and it's more guessing now than an actual edge.
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