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Writer's pictureMomentum Stock Alerts
Jun 8, 20171 min read

Members Trade Alert: $FB



BotTrigger Trade Update: $FB buy @ $154.28 a 5% allocation. Facebook has been building a u formation for the entire month of May and we see it now starting to break above this pattern. The U represents a peak on the left side, that retraced and created a bottom trough. That bottom area was absorbed and made it's way to the very top creating the right side of the U pattern. So the retest of the lows and then that bounce off the lows is what further validates the move. This is pattern cultivation 101. If you want to know where a stock is going, look at where it's been. The tale of it's future is in it's history. These are axiom laws that play the same tune in the stock market over and over again. We've seen this with BABA TSLA AAPL CMG and many others. We're made the mistake of selling Facebook around $136 area a while ago. We're getting back long as this pattern suggests FB is yet again setting up to go higher


Some of the greatest pearls shared by Jesse Livermore:

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“Money is made by sitting, not trading.”

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“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

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“Buy right, sit tight.”

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“Nobody can catch all the fluctuations.”

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“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

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“It takes time to make money.”

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“Don’t give me timing, give me time.”

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