FB Update

If you are looking at FB this morning and like the price action, I'd just sat, "Be careful". For those who might want to short FB or add to (I'm not quite ready to add to until the broader market is in line as well), then FB is worth keeping on the radar as a break back below what is now support would be dangerous for FB.

We have made a good chunk of $$$ in FB long while everyone else hated it and I still like FB longer term, it's the more immediate trade that I'm concerned about and I also am a little concerned that we may be biased because we were making money long on FB when it was the most hated stock, it's easy to like a stock like that, but you really need to be objective and not fall in love with stocks or become partial to them based on past experiences.

Here's FB this morning and why I say, "Be careful"...

a Nice break above recent resistance, but...

 The 1 min chart is in a strong leading negative divergence, it would seem this move is being sold in to pretty hard so far.

 The 2 min chart also leading negative.

 And the 5 min is in leading negative position, but yesterday during the flat range area (the dull trade I warn about), there seems to have been a positive divergence to effect this move this morning, I'm guessing this will fail and turn out to be a head fake move.

As I said before, I'd prefer to add to FB short on a broader market break down with some FB correlation, but I may change my mind on that depending on how things develop.

 There was some interesting trade in HLF this morning as well, I'll likely cover that one next.