Monday, November 11, 2013

Social networking stocks TWTR

Social networking
Twitter (TWTR) - headlines said it "Soared" but we all know it failed the "art of the first day". It opened at $45.10 and closed at $44.90 after hitting $50.. Then it drifted lower on Friday.. I don't have much interest here as it could see $32-$35 before it psychologically looks like a better entry. $40.68 is Friday's pivot
LinkedIn (LNKD)- finally found a bit of support after getting beat up post earnings. Some caught a nice Red Dog reversal around $210-- $208.35 is your spot to trade against. If it continues above $216.45 there is a lot of resistance $221.50-$225.
Facebook (FB) - lots can see a head and shoulders top forming here.. sometimes necklines do hold.. So If you are going to play this short, make sure there is a high volume break and close below $46.50-$47. The stock did exceed all our 2013 expectations and does seem a bit vulnerable here.
Yelp (YELP) -stock got hit hard from $70++ down to below $60 and then reversed on Friday thru the $61.40 pivot. IF the bears want to stay in control here.. they won't let the bears take back $66