Maybe this should be my first option trade: "The good news is, options for this week are expensive. So if you buy the stock and it goes against you, you can sell some options against the position to get some income while you wait for ER."
I have 1 hour and 45 minutes to make an option trade based on this. What would it be? Never traded an option in my life so really need my hand held on this one.
FB is already down 10% from the high. Anyway, I have plenty of dry powder left. I bought a third. If it drops lower to next level of support, $106.61-$106.31 I'll add some more. $103.84 is the support level after that. $100 psychological. And $98. If it hits all of them I will enough dry powder to have a nice average for a long term hold. Very confident FB will be $150 minimum at this time next year. Ignore the fear mongering and white noise.
big kahuna-because if I knew for sure then I'd wait. It's not something anybody knows for sure. What a dumb question. That's why a person averages in because no one knows for sure. The minute this selloff ends, FB will pop. Then there's earnings just a month away. What I say makes sense. If it doesn't to you, so be it.
Thanks. What patience I had to exert to even get the $108.94 GAP fill. But getting the sense this selloff is far from over. And with a month still remaining before earnings, and the fact it's the end of quarter, end of the month, many hedge funds are still unwinding their positions in the market -- we could still get some more selling. I made the mistake of buying BCS (Barclays Bank) on Friday after a 30% selloff. Thought it was a smart move. This morning I realize not so smart. Going to add if it drops again. If not I wait it out until the markets stabilize. FB I will add if markets drop further.
Bought 1/3 of my position at $108.94. Will buy next third in the $106 area. And then I hold out for the possibility of $98-$103.84. Who knows in this market. My buys are for longterm. Retirement. Support levels below today's action ($108.65-$108.97) are: next support: $106.61-$106.31, after that: $103.84, below that watch out: $100 (psychological) & $98 (bottom of uptrend line that stretches back to the breakout at $38). Buys at any of these levels are spectacular. A year from now, FB will be at $150-$160. A 33% gain.
106.31-106.61 is my adjusted target if we break below $108.94. Might take a few days or even weeks to happen. Below that, all bets are off if we break below $105. Still haven't bought. Patience will be my armor.
That's what I was hoping you'd say. I agree and think there's a few other shoes to drop. Netherlands talking about their own referendum as well as Scotland within the UK. Also bought BCS at $8.50. 30% drop in one day? Think this is a steal.
So I remain patient to buy at 108.94 gap? or now? suck the price is higher than the low of $112.56. At $113.56. So patience is a virtue? Feel like I missed my chance and should have bought PM in the $110 range.
This will need a few days to play out. Prices I am buying at: $108.94 GAP, $106.31 support, $103.84 support, $100 psychological level (if it gets there), $98 bottom of long term uptrend channel.
Respect the $5s. A break below $110 means good chance we see $105 and so forth. Technician Carter Worth says $98 possible. A week ago when he made the prediction, I thought it was highly unlikely. Not anymore. It will take 3-5 trading days or longer for this to play out. I start buying at the $108.94 GAP and average down. FYI: the lower currencies are helpful to fb's top and bottom line.
So many of you criticized me saying I had so many chances to buy FB and I missed out. Well, with 50% of the U.K. vote in 500000 more people have voted to leave the EU. If the Leave vote wins, welcome to a Bear Market because this is NOT just about the UK leaving the EU. So many things will be impacted by this. FB WILL drop to $98 maybe lower. A huge market reset will take place. So glad I'm in cash. Hoping my patience pays off. We'll see. Good luck to you all. I wish only good outcomes for all of you despite your harsh words.
ok read. So aside from a swing trade as earnings are announced, because I do NOT expect a 3:1 split to happen until afterwards, you wait if you don't already own. Correct?