Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Sunday, January 13, 2013

Social Media Stocks - five months later

On August 15th I posted "Social Media Stocks".  In that post I called for a bottoming of the social media stocks beat up so badly.  My biggest error, being such an IT person, is to buy that day, and not roll into the stocks over next couple months.

In any event, the play is shaping up good.  Facebook is significantly higher than that day.
Groupon is about break even from that day.
ZNGA, well, its down percent wise still pretty decent, but looking to be firming up.

If you bought these stocks, time to start placing stop losses and looking for an exit.
I posted then, and still continue to believe, holding long term presents significant risk in these companies.

With that said, there is nothing wrong with adjusting stop losses periodically upwards and continue to let it ride higher.  You may get severely punished overnight with news causing stock to open down significantly.  But when isn't that possible?

Below are the charts, with the red circle on when I called for purchasing.  Good luck.

No comments:

Post a Comment