A Moment for Perspective
Whether you have young kids or not, it's hard not to be disgusted by today's shooting in Connecticut. It only takes a small amount of humanity to be on the verge of tears thinking of what the parents and families of those children must be feeling. It makes trading seem inconsequential today. I try to be very forthright in my writing, and I can say my heart isn't in it this afternoon. This makes the fiscal cliff seem like a petty fight between grown individuals when there are so many other things in life we should focus on. Let's get past our differences and get our financial house in order so we can get to work on getting our social house in order. I'm not going to get into gun control issues here as I don't believe this the place for it, but I will go so far as to avoid gun stocks. There are plenty of other ways to profit in this market. Silly? Maybe, but knowing my wife and all three of my children were in the same elementary school at the same time this morning, I don't need those names in my portfolio.
Between Twitter and Facebook (FB), updates and opinions are exploding today. A quick look at the FB chart shows a flagging pattern forming since the recent run after the last lockup period. This makes for a very interesting and potentially profitable setup. From this point, above $28.50 or below $27 could spur good-sized moves. Under $27 and I would expect FB to test $24.50 while a move over $28.50 could make a push all the way to $33. Given that today is a lock-up release day, I want to see one more day trading under $27 if FB does move below $27 today. The momentum is slowing, but that is consistent with a flagging pattern....57 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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