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Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns:

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To: Robert O who wrote (2132)	5/29/2013 2:49:53 PM
From: The Ox	Read Replies (1) of 8239

FB hit the 20% dip mark today, down from the earnings high at the start of this month. At 6 month lows. The trade setup the other day was perfect for the day trade only. By early the next day, it had violated the stop point. Since then, not surprisingly, it's continued the falling knife move its been steadily following for the past 4weeks. If you choose to play the long side here....tight stop to the downside is a must. Until we see an up day or 3, it's wisest to assume the trend will continue. If it closes above its current high of the day, that would be the first positive, potentially trend reversal move seen during these past few weeks...... IMO

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