@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.
😑 @Angusmck.... I told you to buy at $300. Here are some coins to cover your loss on the way down 😝
zAngus
⋅
@spreck, hahaha. I thought you said it was BTC at $300! Not FB!
spreck
⋅
@Angusmck, no no no... I said BTC to $30, FB to $300
constantine_trading
⋅
In the long run it is a great idea considering all the products of FB,
but you seem to be a bit early there.
Same goes for ADBE - great company with a long-term perspective even though it doesn't pay dividends
zAngus
⋅
@constantine_trading, yeah there is a lot of drama around Facebook right at the moment. The "House" loves to dig into them at every opportunity so with this Whistleblowers testimony there will no doubt be more regulation and sanctions down the track. Wiggled the right way for now though :)
fredpui
⋅
more downside to come for big tech stocks i'm afraid
zAngus
⋅
@fredpui, yeah, I wont be putting any significant money back into the market until there is some better news out from Biden around the debt ceiling in particular.