Facebook Inc FB Stock Gets Downgrade-EU Controversy 12-7-18

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Facebook’s stock falls after Stifel downgrades, citing ‘too many adversaries’

Shares of Facebook Inc. FB, -0.77% dropped 2.6% in premarket trade Thursday, after Stifel Nicolaus analyst Scott Devitt downgraded the social media company…

…citing concerns that the company’s management team has created “too many adversaries,” including politicians, consumers and employees, to not experience long-term negative ramifications.

marketwatch.com/facebooks-stock-falls-after-stifel-downgrades

Facebook emails show EU must toughen regulation on social media ‘monopoly,’

A European lawmaker has called for updated regulation on Facebook and other social networks after a trove of revelatory emails was released by the British Parliament.

Internal documents made public Wednesday by Britain’s digital, culture, media and sport committee showed senior executives at Facebook — including CEO Mark Zuckerberg — discussing the prospect of charging developers for access to user data and shutting off competitor Vine’s access to the data.

cnbc.com/facebook-emails-show-eu-must-regulate-social-media-monopoly

FB fACEBOOK iNC 12-7-18

FB fACEBOOK iNC 12-7-18

Today's Trade of the Day | 12-7-18

Bitcoin has finally traded into something interesting. Massive accumulation and what many would call capitulation. Weak bullish hands selling and strong, long-term buyers stepping in and scooping up value. The spike in volume near historical lows shows big money is getting involved -- in a big way.

The downside risk has diminished dramatically. I am considering a long-term investment. Game planning to begin building a position. This is not a trade. My game plan is to buy and hold. Not sure I will get better reward potential with such defined, limited risk (price going to zero)

Could Bitcoin continue lower? Yes, of course. Speculation is comes with risk. I'm ok with small entries looking to build a bigger position at these levels.

Disclaimer: Crypto still lacks many required regulatory standards. Investing in cryptocurrency is not the same as investing in stocks.

Bitcoin BTC USD 12-7-18

Bitcoin BTC USD 12-7-18

Stock Trading Ideas Friday 12-7-18

Bullish Cash Flow: OKTA, TWLO, VTR, UAA, FTNT, CSCO, CRM, ADBE, IBM, DE, AMZN, MA, ETSY, LVS

Bearish Cash Flow: mnk, crzo, wll, sm, hal, orcl, huya, achc, pcg

Bullish Breakouts: OKTA, WELL, VTR, O, AMT, CCI, NRG

Bearish Breakouts: mnk, crzo, sm, hal, orcl, huya, myl

Double Average Volume: C, SLB, MOMO, AET, TSRO, BA, EMR, OKTA, AXP, ETFC, ACN, PRU, PCAR

Become a Better Trader. Get Notified.

Tape Reading the SPY ETF

SPY ETF has literally zero edge right now. Not sure I can use a stronger word than zero...

Could we be buying support and resistance of this trading range? Yes. By definition it's a trade with defined risk and a certain amount of probability. Volatility has spiked which is good for increased price movement. But the price action remains incoherent. 

Typically we love a volatile stock market but right now we have indecision. Unless you are day trading this can be a tough tape. If you're a swing trader, be patient and be super stock specific. You will need to do some additional scanning to find good trades. If nothing is obvious, always remember cash is a position too.

It's a huge, and in my opinion that you must trade all the time. You don't. You must trade when the odds are in your favor.

SPY ETF Chart 12-7-18

SPY ETF Chart 12-7-18

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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