one of the biggest problems I have with a stock like facebook and probably many others similar is that I do look at trends sometimes and I do look at T/A a lot but, like the element of the Fed and its policy, we have another element here and that is perception and transparency. With FB they can spin, cook, pump and really just plain lie about both revenues and net income (and like netflix, twitter, etsy, angie, ebay etc lie about new subscribers (fake subscribers) and future earnings projections) because it is just too hard to verify FB users, users authenticity (outside of the US), users eyeballs and effectiveness on ads, users log on time etc.... In a strong upward market with generally good economic reality traders and buy and holders will eat the numbers up with a spoon regardless of authenticity. But as the macro economics generally in the US and world start to crumble traders and buy and holders will stop believing and sell because sometimes reality is just too hard to ignore (or spin). My feelings (and my position) on FB is that its getting too hard to ignore reality and (like Netflix) I am selling "after" each earnings report from here forward for a while. My charting on FB is not so high in conviction because of this added element
Sitting here watching the Pats/ Broncs - good time to look over the charts Disclosure I did add a yellow horizontal line Friday @ 98.59 that I didn't acknowledge - I added it to see the upper channel line's level Sorry about that Orange DMTL - deleted That yellow horizontal line @ 98.59 - deleted.., no need for clutter ======================== FB does has wind at its back to move up But be mindful..., longs have been burned couple of times already this year Wednesday = FOMC and FB earnings Aside There no way in hell I will have a position - right before FOMC announcement..., or heading into EOD AH earnings Will try to trade reaction to FOMC Will not touch earnings to save my life - will observe in preparation for Thursday 100.47 - 101.47 was a pretty substantial zone at one point - wouldn't be surprised to see it gaped - if it gets there RN
Broncs won - with defense Defense wins NFL championships..., Defense (stop losses) creates consistent.., successful traders Use stops..., honor stops..., manage losers..., keep losers small - no exceptions ============================== Having losing trades is not a reflection of a person / trader Not managing losing trades -> not exiting them quickly.., with out hesitation / reservation..., and / or allowing them to affect you - is RN
Analysts are singing praises for the upcoming earnings.. we'll see Wednesday https://www.tipranks.com/stocks/fb
$95.60 worked well May think where I have that grey circle - a DT (R) of sorts (so price in a range now) But it wasn't defended - so not really R - more like lack of interest for the time being Uncertainty till tomorrow - then..., balls out me thinks (but what the hell do i know anyway) RN
Well, colleagues, and what are you expecting from FB earnings report? The majority are bullish considering TWTR weakness.