I took the other side of FB, I bought some FB today. No one knows where its going, so buying into the name slowly over time. I rarely ever catch the exact bottom.Shonuff Glad youre making your TSLA trades work, but for your long term sanity, trade something rational. Daytrading successfully is about buying and selling at technical levels, but when you're playing with these meme stocks and stuff like TSLA, its far more difficult to get any kind of read.
The very simple play today was the FB short.
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It's now given up it's 200D and looking pretty rough. Far easier to trade something like this than Tesla.
Because you are saying how bad it’s been going shorting it but you still talk like you want to short it.
Yeah, but that price to earnings multiple is getting more attractive and tipranks has it with a 30% upside. Gonna have to take a little risk to get that sort of upside.
Today was the first day where you would have cleaned up shorting it in a while. The higher it goes, the more attractive it is to short. I find it hard to believe its going to hold onto its 20% gains the last two days. As a matter of fact, it gave up 6% already today. Sell signals have been pretty clear today.
Not that I want to own it, but I see a possible FB entry at around $277 (the intermediate support level). Wouldn't touch it higher than that.
Don't take this the wrong way, but its rarely luck. Its usually hours and hours of research and even then a black swan can come along (hello Macao and WYNN). If you are trading momentum plays like re-opening stocks and the like, there are a metric fuckton of variables that can come up and bite you in the ass. Few people saw oil prices fucking airlines the last couple of months. BABA was always risky because of the CCP. It cost me some money.
I think airlines start to come back in favor next month. BABA and cruise ships, who knows? A lot of us got pummeled by oil and gas and the CCP.
