Breaking out on volume now -- See you all above $30 near term
The retail holders are flushed out, replaced by institutional longs who understand the power of FB moving fast to mobile ads (from none last June to the primary focus rolling ahead). The big breakout above $32.65 will really take some unhedged shorts heads off as the pro longs continuing taking off the hedges and get longer now.
Meanwhile, the user group has gone from college kids, to little girls in middle school... now to commerical enterprise, grandparents and the rest of the world with a checkbook. FB is just getting going now... watch the revenues and eps soon justify the ipo price. LOL
$29+ is a likely print today as the clock is ticking for the Index inclusion. Boehner is telegraphing the Republicans want a deal done (all except the lunatic right). Look out above when Boehner and Obama speak for all the idiots in DC and announce a deal before Obama's Hawaii vacation on December 17th.
I don't know where you see 29 today. FB's inclusion into the Nasdaq 100 is old news and many funds knew this a long long time ago. Right now slowing momentum is the only thing happening with FB. Thats about it.