Facebook Enters The Honey Hole

My favorite trade is the first pullback after a big thrust higher.  The more violent and unexpected the thrust was, the better.  One of the best ways of identifying the magnitude of the initial thrust is by using a momentum indicator.  Many use the RSI, I prefer the CCI.  If you look at how CCI is calculated you will understand how its oscillations reflect momentum.

I started buying FB two Fridays back perhaps a bit overzealous sure, but it wasn’t a full position because the stock had not pulled back into my honey hole.  Well here we are today, in the honey hole.  Now I didn’t buy any shares today, and I may not buy any tomorrow, but should we see STRENGTH of rhinoceros proportions I want a full position and will add.

Completely aside: I got creamed for a good 2% loss to my portfolio earlier in the year exhibiting my voodoo on the  thirty three level as if it was any semblance of support the day after IPO.  I learned my lesson, and @chessNwine made sure to iterate that we should wait 3-6 months to get a better technical picture of IPOs.  Thus, I am patiently waiting to buy shares in lifestyle brand RH which I can assure you will be in my portfolio in 2013.  Developing…

Note the angry bear’s laser like focus on the honey hole:

9 Responses to “Facebook Enters The Honey Hole”

  1. hahahh wow that is awesome

  2. Lookin’ forward to your thoughts on RH. A friend is a designer and tells me all sorts growth plans. Plus, their furniture is awesome.

  3. Haha, a new honey hole!

    • should pic a diff name

      honey hole is already a documented and legit setup coined by woodshedder

      this bullshit is just a pullback and a break of support I might add

  4. Ha ha…the bear’s a classic.

  5. This is great. Glad you got a tabbed blogger spot. Look forward to reading moar

Comments are closed.
Previous Posts by Raul3

Facebook Enters The Honey Hole

My favorite trade is the first pullback after a big thrust higher.  The more violent and unexpected the thrust was, the better.  One of the best ways of identifying the magnitude of the initial thrust is by using a momentum indicator.  Many use the RSI, I prefer the CCI.  If you look at how CCI is calculated you will understand how its oscillations reflect momentum.

I started buying FB two Fridays back perhaps a bit overzealous sure, but it wasn’t a full position because the stock had not pulled back into my honey hole.  Well here we are today, in the honey hole.  Now I didn’t buy any shares today, and I may not buy any tomorrow, but should we see STRENGTH of rhinoceros proportions I want a full position and will add.

Completely aside: I got creamed for a good 2% loss to my portfolio earlier in the year exhibiting my voodoo on the  thirty three level as if it was any semblance of support the day after IPO.  I learned my lesson, and @chessNwine made sure to iterate that we should wait 3-6 months to get a better technical picture of IPOs.  Thus, I am patiently waiting to buy shares in lifestyle brand RH which I can assure you will be in my portfolio in 2013.  Developing…

Note the angry bear’s laser like focus on the honey hole:

9 Responses to “Facebook Enters The Honey Hole”

  1. hahahh wow that is awesome

  2. Lookin’ forward to your thoughts on RH. A friend is a designer and tells me all sorts growth plans. Plus, their furniture is awesome.

  3. Haha, a new honey hole!

    • should pic a diff name

      honey hole is already a documented and legit setup coined by woodshedder

      this bullshit is just a pullback and a break of support I might add

  4. Ha ha…the bear’s a classic.

  5. This is great. Glad you got a tabbed blogger spot. Look forward to reading moar

Comments are closed.