FB - Facebook Continuation Setup

[DaveLandry]

FB looks ready to breakout and run higher. Keep in mind earnings are next week and this could help fuel a little run-up into the report. If it breaks out and runs, I will sell into it. This is not meant as an investment thread, but only a short term opportunity in a popular stock. Here's the continuation triangle setup that needs to be broken. I believe FB could run into the low 60's if the breakout occurs with follow though.

http://www.onlinetradersforum.com/at.../fb-jpg.16658/

Disclosure: I bought FB in a client account on Tuesday at 58.05 in anticipation of the above said breakout.

[likesmoney01]

Does "I will sell into it" mean you are short selling the stock? If so, may I ask why? I see the overall trend as up. What indicators point to a pull back?

Thanks.

[AbnormalReturns]

Also might be worth selling an Iron Condor to play the IV collapse the day before earnings...especially if it can go up a little more before then. The 52.50/55/60/62.50 get you 1.5 x's profit/loss...you can bump it up a strike to play for bullish bias. I'll keep an eye on it...might try to make something out of it.