FB – Facebook (Last:49.11)

Sometimes it seems like the only trick a trader need master to make money consistently is fading the opening.  That’s when the shakedown artists do their magic, using market orders that have built up overnight to induce an artificial high or low that goes fleetingly against whatever mood is evident at the bell. And so it was yesterday with Facebook, which leaped a manic $2.67 after frightening the rubes with an equally crazed, 73-cent dive on the opening bar. This manipulation left my bearish target at 45.25 intact, and so it will remain unless DaBoyz can engineer a further rally surpassing 52.09.  As a practical matter, however, the stock is a bull trade at the moment, having ended yesterday’s session on a minor entry signal at 49.92 that promises to deliver a minimum 50.57 provided the midpoint pivot at 50.13 can be surmounted. This is small stuff, even for night owls, but there could be a bigger payoff if you stay long and the rally segues into a full-blown short-squeeze Wednesday morning. _______ UPDATE (8:50 p.m. EST): The stock tanked nearly $2 after a bull-trap squeeze on the opening came within 12 cents of our rally target. The head-fake peak was particularly nasty because it created an ostensibly tradable impulse leg on the intraday charts that mutated within minutes into dross.  By day’s end, this vehicle looked suitable only for scalpers with a long-term horizon of perhaps 30 minutes.