Check out any of the lawsuits being launched hourly against FB. They all claim Zuckerberg gave secret guidance indicating earnings will go down from here.
His co-founder buddy was smart, renouncing his citizenship and all. Maybe Mr. Z will be emigrating soon. Poor guy only has about 120 countries who would even want him and his lousy money.
Of course the "correct" way to trade an IPO is to let it form a proper base first, and then Buy the Breakout. Will wait for that now, before adding on any more contracts. But I wanted to have a go at "Bottom Fishing" first - just for fun. A very small initial purchase, so not much risk involved.
------------------------- This is a psychological manifestation of a swing trader's weakness. Weak in discipline. Weak in execution. Weak in rationalization. With all due respect. Anyone check out Fagbook 'natal' "born on date" aspect? We will see teens before we see $37.00 again. Fagbook founder 'Zuckerberg' is (in my humble opinion) a reductive autistic anti-social {networking} geek boy who is NOT a force now--nor will he be in any way or shape "relevant" going forward in the next 18-24 months. Facebook was a bubble (who do you think financed the film--directed by 1 of my 'top 5 directors'--David Fincher); save that--the film was a shit show of a script and featured the 'in real-life' Asperger's syndrome actor Jesse Eisenberg and that horrible little douchebag from some gay 'boy band' dude named Justin Timberlake. Sorry, I despise mainstream cinema. Keep shorting this shit-canned stock. Frankly, Zuckerberg was way too arrogant and smug with this IPO 'timing.' Facebook's "natal birthdate" last week was the absolute worst time to go public. Did you really expect this repulsive-looking white boy to cover all his bases? Steve Jobs and Bill Gates and Google founders sure as fuck did when they did their IPO's. I feel good about facebook being an absolute dismal failure. It feels right. Peace & Blessings! Archbishop Hedvig Von Dikkeman V
Market is giving another chance to longs to get out now by opening the door while letting more suckers to get in from another door. Shrewd traders won't miss these opportunities to make money. FB is trading at 29.50 now. I see $20 on tape. It is imminent.
----------------- No dis-respect intended. Bottom fishing as a trader is akin to fucking a fat girl in a perceived 'time of need.' It is lazy and sloppy and why in the fuck are you wasting your precious time with repeating a negatively reinforced behaviour? IF this is just for shits & grins then I guess you have some cocktail conversation and can say you bought facebook when it was still in the high 20's and it will 'come' back some day. Yes; I realize you took a small 'taste' for fun. Still it is my opinion this is highly damaging to an overall RUTHLESSLY disciplined trading strategy. If it didn't mean anything why bother putting on an initial position? Finally, what is your stop loss on your spread and when/where and 'how' will you add to your loser or will you be waiting for it to 'lift' into a new position at a higher price than now and will you be trading it as a stock or a derivative. I wasn't meaning to bust your balls; really. I like to 'rant' on certain subjects--so it wasn't necessarly 100% directed at you. peace hedvig
Thanks. I not only made my lunch money but had time to make the beanery before the lunch special expired. Standing aside until we see how much FB might rally. I see the 2-day fast stochastic is pretty high but if New York rallies FB should get a further boost. Probably a lot of guys want to average down or switch back in after taking a loss. BTW I was lucky this time but I don't trade a lot of options. Options always make me nervous. For high-risk I prefer trading Canadian Venture stocks to trading US options. GL (we always need luck)