Who's Got a Logical Explanation, Market Flooded with Shares and Price Goes Up 11%. eom.
Logic doesn't have anything to do with it. More buyers than sellers it seems driving price up. Good for longs. Still, I'm short. FB was over $23 3 weeks ago. If it hits $24, I'll add to my position. Today's bump doesn't change the macro financial situation or the economy or the tax changes, Obamacare, etc... AAPL who makes real products and real income with demand is dropping and yet FB is going to sky on "potential" (think MySpace) in increasingly difficult economic times? I may be wrong, but I'm willing to bet against that. If I'm wrong, it won't be the first time. hehe