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FB - Facebook
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Created: by Big Mike Attachments:12

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FB - Facebook

  #41 (permalink)
Elite Member
Berlin, Europe
 
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Big Mike View Post
Plan for Monday: Buy 10 million shares of FB @ 38.01. Sell @ 38.11.

Plan for Tuesday: Retire.

EDIT:

Plan for Sunday night: Borrow 100 million dollars from @tigertrader for the margin I will need on Monday.

Mike

@Big Mike: The volume traded during the first hours was about 6 million shares. Your order of 10 millions share would have sent Facebook to new record highs.

However, there is an opportunity now to get filled at $ 37. If you manage to synchronize your entry with the banks covering their short positions - you need to get filled first .... do you need a phone number? -, then you may succeed to buy into your position.

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  #42 (permalink)
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Now trading down almost 10%

I am surprised that the MM are not still supporting the IPO price only 1 day later.

Mike

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  #43 (permalink)
Site Administrator
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Wow look at it go!



Wouldn't it be awesome if this thing closed down 25-30% today... It would restore a little bit of my faith in humanity.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following 3 users say Thank You to Big Mike for this post:
 
  #44 (permalink)
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Working on my LCD tan
 
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Big Mike View Post
Wow look at it go!



Wouldn't it be awesome if this thing closed down 25-30% today... It would restore a little bit of my faith in humanity.

Mike

+100

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  #45 (permalink)
Site Administrator
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Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #46 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
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Posts: 9,651 since Mar 2010
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Big Mike View Post
Now trading down almost 10%

I am surprised that the MM are not still supporting the IPO price only 1 day later.

Mike

If that story with the Greenshoe makes sense, the underwriting investment banks all have short positions.

Why should they support the share price already at $ 38? Let it go down a bit, and there will be considerable profits, when they purchase back their short position.

No this does not restore my faith in humanity. Faith has to do something with cooperation. The natural enemy of cooperation is the prisoner's dilemma, which fosters selfish behaviour.

The invisible hand evoked by Adam Smith is only a very special case with a limited area of application. It leads to bad results without a code of conduct, which is needed to correct its shortcomings.

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  #47 (permalink)
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FadeBook Enters Bear Market; -20% From Highs | ZeroHedge

I am not sure how long it will be until there are available shortable shares for public. And I don't know about options unfortunately, @sam028 was supposed to make a post about that

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #48 (permalink)
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Big Mike View Post
Wow look at it go!



Wouldn't it be awesome if this thing closed down 25-30% today... It would restore a little bit of my faith in humanity.

Mike

lol Mike. Would restore a little bit of my faith as well.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."

Last edited by liquidcci; May 21st, 2012 at 11:26 AM.
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  #49 (permalink)
Elite Member
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Big Mike View Post
FadeBook Enters Bear Market; -20% From Highs | ZeroHedge

I am not sure how long it will be until there are available shortable shares for public. And I don't know about options unfortunately, @sam028 was supposed to make a post about that

Mike

As for the options:


Cogito ergo sum View Post
If the Facebook IPO is successful and trading on the shares begin friday the 18th, the first trading day for FB options will be Tuesday the 29th (the 28th would actually be the first day the options would be eligible, but that’s Memorial Day).

I will be exploring some options strategies to exploit skew which should offer some interesting risk reward trades.
I expect the options to be traded actively and jacked on vega, thus trading at a premium. Hyped s stocks seem to have the ability to run good for a sustained period of time, even on hefty valuations before things become more rational. E.G. NFLX.


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  #50 (permalink)
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Funny

How they are trying to blame Nasdaq on its open for FB not living up to hype. I am sure there could have been technical glitches. But reading behind the lines on that. What they are really saying is dang they messed up our ability to run this through the roof when it opened making retail pay ridiculous prices. We all know it is overvalued now so really the market by taking it down is being efficient of course needs to come down much more.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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