“Should I get Snapchat?”

I hate taking selfies, but I love doing them on Snapchat. A few months ago, my work wife Hunter got me into Snapchat. It has since become a major form of communication between the two of us when we’re not working together.

Snapchat offers a lot of ridiculous photo/video filters (some of which aren’t appropriate), but I find most of them are just fun and silly. It’s like putting on a mask or a costume when do you a selfie on the Snapchat app. I get to become a different persona with each filter. My faves are the filters with a voice changer (you usually get a high-pitched voice or a deep monster voice). I enjoy doing impressions of people and Snapchat allows me to really get into character. If you don’t have the Snapchat app on your phone, you’re missing out! I realize it’s a pretty childish way to use up your time, but for me, Snapchat is a good outlet when I need to take a short break and just get outside my head (and into another).

 

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I never buy IPOs early on – that is, until today. After a stock goes public, I usually wait until the dust settles and I see more signs that the price movement is less volatile and has leveled out. Lately, I’ve been doing stock searches, but with little luck in finding anything compelling. I’m not crazy about any of the sectors or even the market right now. The only good thing about Snapchat (ticker symbol: SNAP) is that it’s trading on its own page because it’s brand new.

So, I did what a fan with a trading account would do: I bought some shares.

 

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Snapchat’s price history charts on freestockcharts.com

I don’t know if Snapchat has ‘found a bottom’ yet or not as it’s too soon to tell. I took a small risk with just a few shares in case this stock were to go lower. I know the proper thing to do is to trade with more information. It’s better to wait for a pattern setup on the daily chart, but there are only five daily candles to work with so far, so I’m forced to look at the hourly and 15-minute charts. I used the 5-minute chart to time my entry, which is such a day trader thing to do.

After enough time passes and I see how SNAP performs against the market and the tech sector, I’ll buy more shares once I see my typical consolidation pattern setup on the daily chart.

 

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