you had a major short squeeze last week . . .caught major money by surprise. the FB story needs to sustain itself and the issue is, can they really continue the now super high expectation that they just set? The multiple is extremely high and the revenues are solid at a few billion but does it rationalize an $83 BILLION Market Cap? The entire market is overbought - i think there will be a violent pullback across all sectors over the coming weeks as we exit the summer . . .August can be a nasty month. 30% parabolic spike tend to retrace . . .especially if selling begins to appear, you'll see 15% of that move disappear in a day. Good luck.
If I told you I made $50K - long several thousand shares until the spike, would you believe me? I am a believer in the facebook story, but parabolic spikes tend to retrace 25-50% within 2 weeks and in an uncertain market where a lot of the spike wasdue to covering, i think it's risky to enter at this point. take your profits if you've been long. my opinion!