META Likely bottomed

I am building a long position in my Roth and plan on holding for 20 years. I can totally understand shorting here but I am just going to slowly buy on beat downs over the next year or two.

 

when your stock is racing towards the ipo price...

 

So from the date of opening of this topic META has dropped -48.72%.

Like overall markets bottomed ... hardly.

 

how many shares did you get filled today?

 

META's comp one-upped them.

PlayStation VR2 launches on February 22nd for $549.99
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Sony’s next VR headset, the PSVR2, will be available early next year. It’s a major upgrade, with an OLED screen and a 110-degree field of view.

https://www.theverge.com/2022/11/2/23436550/sony-playstation-vr2-release-date-price-features-games

 

I bought $3k worth today over 5 orders. I have $5k something total right now and would like to get that to about $20-30k.

A year from now though it is hard to see any positive narratives here as Reality Labs is going to burn a ton of cash next year too. The metaverse as a total failure is pretty much the viral narrative of the moment.

 

I might have went overboard today but feeling pretty good right now. 27 buy orders today, 4 canceled, 23 filled
$89.37 basis overall on my position. I should have been able to get that under $89 today but it reminds me why I am not a day trader.

I was looking at a basket of CRM, SNOW, NET and DDOG last night and thinking about how that basket is being valued almost at the same market cap as Meta. Even with those stocks getting crushed today its not worth that much less than a company with 3 billion daily users and one of the best long term AI bets.

These viral narratives just start spinning out of control but I think Meta will ultimately benefit here from Zuckerberg's narcissism and complete disregard for what investors think in the short term.

 

Let me ask you something. Sincere question, why wouldn't you rather put your money into something like AAPL?

And the reason why I ask, besides the obvious, is of all big Nasdaq Megacaps it has held up the best overall and especially since June lows.

 

Interesting take on Mark Z!

I think today FB likely bottomed. The reason being a feeling of utter dread when I realized 1 portfolio I run still had it since it's IPO day! I'm sloppy.

And the feeling was shit tech is really dead. Out of favor. This could be a generational thing; a lost decade... when thoughts get that dark, often bottoms are made.

Took a relatively small position today ~ stoney

 

Nice!