Facebook just had a severe drop with bad earnings report. The gap down was so huge that it looked like there was no recovery since the sellers were very strong and persistent. I saw the chart and at one glance it looked good in the eyes of the retailers since it was trending up but in my point of view, it's a sell stock than buy because trends don't continue forever. There was major profit takings going on before the huge gap down on Thursday and hence I would avoid long on this counter since it's bearish at the top. I was pleased to see small winning record from my student and although she missed the short sell at the top, still she managed to scalp and made $ out of the trade and not waste any opportunities. Congrats!
Ronald K - A Game Changer
