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Facebook Reaches New Highs

As a new week begins, shares of Facebook (FB) are extending Friday's breakout into new all time high territory. The stock, a holding in the Action Alerts PLUS portfolio managed by TheStreet's founder Jim Cramer, is working on its sixth straight higher low and is now up over 4% from last week's low. This impressive move leaves behind a seven-week consolidation pattern and has set FB up well for more upside.

After breaking above its July spike high in early September, Facebook quickly stalled out. By Sept. 7 it was clear the $132.00 area would be...