Facebook (FB)…two entries. (November 20, 2012)
FB
Good evening Dan Fitzpatrick here at Stock and OptionMarketMentor.com. We’re going to look at Facebook ( $FB Facebook Inc ) but first, we’re on Black Friday, you don’t have to go to Walmart to get the good deal; although I guess everybody’s open on Black Friday, we’re not, but if you want to go get 25 percent off on any of our products, and that includes the Short Selling Workshop and the 59- Minute Trader, which a lot of folks are making money on these fast intraday swings with, if you want to do that, I don’t know that we’ve ever put these on sale before, I could be wrong about that but I’m pretty sure we haven’t, so 25 percent off on any of those. I promise you, you’re not going to be disappointed in those, and I rarely promise, but I promise you that you’re not going to be disappointed in them, you’re going to be a better trader and I know that’s what you want. Anyway, check that out, sorry to go on so long, that’s a minute of hardcore sales. Let’s go in to Facebook ( $FB Facebook Inc ) here. I’d mentioned that we wanted to, you know we’re going to either buy the breakout or the pull back, and it looked to me, after yesterday, that we’re going to maybe buy the pull back, we’re going to wait here. I’m going to give you, and this is just really simple, I’m going to give you a really good way to do this with minimal risk. The close is $23.10, the low is $22.70, check this out, mental math, forty-cents, that’s how much it is; so forty-cents difference between the close and the intraday low. If you’ve been looking for Facebook ( $FB Facebook Inc ), looking at Facebook ( $FB Facebook Inc ) you could think, “Okay, well I like this but I’m waiting for it to go all the way down.” This may be just a little pullback that you need; this may be all it takes. So what you do is this, take a very small position, real small position right here, where it is right here, and you can set a stop just below the intraday low, $22.70 we’ll call it $22.65, seriously, very, very tight stop. If Facebook ( $FB Facebook Inc ) continues to fall, you get stopped out, now you can look for the next entry, but set a tight stop initially because your whole thesis in buying now is, I think today, I think Tuesday, this magical day, I think that’s the low; now Facebook ( $FB Facebook Inc ) moves from there. If that’s your thesis then you need to put your stop right under there. If it gets stopped out, fine, but here’s the other thing. If you don’t get stopped out and instead Facebook ( $FB Facebook Inc ) starts to rally, which gives you the sense that this is coming out of a base, it just took a little false start; then you’re already in, then you can start buying on the way up; your cost basis is increasing but it was fairly low to begin with because you’ve bought on this first little pullback. So anyway, that’s how of trade Facebook ( $FB Facebook Inc ). Members get over to the Strategy Session, and once again I’ll say it, guys this Friday, 25 percent off on all of our products, I hope you take advantage of that. Free Chart