TOE-ING INTO A SWING LONG on Facebook @ $20.45

Trade thesis – downtrend coming into play for an upside probe, RSI now 5 days into the 20 range on the hourly chart (more often than not a level at which a bounce comes in), volume slowing on the decline over the last 2 days and all pervading negative sentiment.

NOTE – We have opened 50% of our intended size with the expectation (& ability) of trading sub $20 should this occur – free margin capability is stamped on our eyeballs!