@Spreck talked me into buying FB - Good idea or Fail?

@spreck talked me into buying some Facebook shares in the After Market hours.

It is definitely in the oversold area and down around 16% off its highs so a pretty good pull back and I can see it is up slightly in the After Market auction - hence my buy price a bit higher than the close of day.

It seems to be at a bit of a support area, so I'm hoping for perhaps a short term bounce, so have my stop at the bottom of todays low (so under 2% of my buy price), and a 5% trail to get me out quickly if it is some kind of technical bounce. I don't think it is going to be a long term buy and hold. Probably more downside in the short to medium term it seems.

Ironically the Facebook site is ALSO down at the moment.

What do you think - Good idea or Fail ? :)

Comment:

It is also a Turnaround Tuesday play.

See: finance.yahoo.com/ne...thing-120004387.html

Comment:

That went well for @Spreck, we don't have to nuke him into oblivion. Nice little 2% move up of which I caught a bit under 1.5%

Comment:

Hit stop loss and exited the trade. Good news for everyone else - it should rocket to the moon now Im out :)