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Breaking up with Facebook? It's harder than it looksBy BARBARA ORTUTAY NEW YORK
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I'm not usually a big fan of looking for shorts in well managed and hot market companies, but Facebook is starting to look bearish in the short to mid term trading.
Don't get me wrong, I like Facebook for it's fundamental social integration into our economy.
As long as this continued to trade below the 200MA and below the 170 price level, I'd like to stay away from short term trading positions on the long side (Though I'm sure we will see a lot of buyers trying to pick a bottom because Facebook is one of top 10 biggest companies in the world). Until then, I think there will be some great trading opportunities with Facebook as volatility is slow increasing in both broader markets and FB itself.