Are you coming on Saturday? (January 09, 2013)
FB
Good evening I’m Dan Fitzpatrick here at StockMarketMentor.com and OptionMarketMentor.com on Wednesday the 9th of January. By the way, speaking of OptionMarketMentor.com don’t forget to check out the webinar, it’s a live seminar actually, on Saturday, you can just go to StockMarketMentor.com or OptionMarketMentor.com home page and you’ll get information on there. It’s going to be the most awesome options course ever taught, I know because I wrote it and I’m teaching it; I hope you’ll check that out. All right onto this, Facebook ( $FB Facebook Inc ). This stock, frankly, looks to me like it’s just kind of getting going; this is one that I’ve been in and out of for a while, typically long, I think I was short for a while, but that didn’t work out too well so now I’m trading this volatility squeeze. Here’s the thing, this stock has been in sideways congestion for awhile now, earnings I think are in another month, if I’m not mistaken and I might be mistaken, you need to check that out, but I think they’re in February. Well, this stock has been moving for a while and today the big news, 5.25 or five and a quarter percent up, because Facebook ( $FB Facebook Inc ) is saying, “Hey, come check out and see what we’re building,” and the conjecture is, maybe it’s a Facebook ( $FB Facebook Inc ) phone. I don’t have anything to say about that except I know that Zuckerberg said, a while ago, “Dude, there’s no way we’re building a phone, how stupid would that be?” So I don’t know if that’s the case, but I’ll tell you this, I don’t care about that because this stock was on the move before this news. I think, frankly, that this would have happened even if there had been no announcement about anything. Excuse me; I almost choked on my own sarcasm. This is the nature of stocks, they go up and down, they consolidate, they trade sideways for a long time and then they just decide to do what they’re going to do. Facebook ( $FB Facebook Inc ) has been trading for a while, it’s been just begging to break out, in fact in Option Market Mentor we’ve had an open position on Facebook ( $FB Facebook Inc ), a call position that’s actually doing pretty well, and we’re going to stay long, because that’s what you want to do when the squeezes first start to go. Now I’m no Facebook ( $FB Facebook Inc ) fan, you can check out my Facebook ( $FB Facebook Inc ) page. Oh! That’s right, I don’t have one, but I like this chart; so as long as Facebook ( $FB Facebook Inc ) looks like it’s still expanding here I’m going to stay long, I would suggest that you do the same too, just don’t become a Facebookian like so many have become Appleoneons. Instead just trade the trend, as long as this stock continues to print higher lows and walks along the upper Bollinger Band don’t have an opinion, just stay long the stock, as long as the stock keeps going higher, again, don’t have an opinion. The stock will tell you when it’s time to leave, but right now you just want to friend Facebook ( $FB Facebook Inc ) and just stay that way. Okay, members, over to the Strategy Session. Free Chart