FB, Facebook update

fb feb 11 2014

We got some pretty good calls on Facebook and hope that will continue. This is a SELL when the trend line is reached (about $66 maybe). We would not wait for that, or a possible “throw-over”, and would play it safe and sell right away.  This is a semi-log chart; they work better when a large distance is covered in a short time. From $17 this is almost a four-bagger in little more than a year. The chart is a very , extremely, clear and well articulated wedge that is working itself into a corner. In the unlikely event that this is an incorrect interpretation one would still expect a drop in a wave 4 to about $45 in the best alternative scenario. A sell. See also previous blogs!