I like to find inflection points and turning points in stocks as I believe that is where the most money is made. I shorted FB on the open here and made a quick 3 bucks and took off high. It stopped me out and I said if this comes back through I am shorting for a swing.
I have swinged this short as a failed breakout and coming down. Target is 122 and stop is ATH.
I have been saying this on my blog for two weeks now calling for the Mexico bottom and the Peso bottom. I was ridiculed for shorting USDMXN at the 22 dollar level and look where we are now??
I expect this to continue to under 19.50 IMO.
