Trade closed: target reached:
LNKD sold off 40% overnight and into today. Both of my targets were hit and we're now sitting around $110. The $110 - $120 area is huge support and also comes in around the 1.618 area of the last leg. This would be a great time to exit the position. Further, downside is possible, but after sucha strong sell off into key areas I think it would be wise to abandon ship. As far as buying LNKD I think it's not a wise move just because the market is going to get bad and I wouldn't want to be holding a company like this even though technically it could be a decent trade.