big fed day tomorrow, mkts will be nervous in the AM....facebook has reached an extreme on EVERY technical indicator you can point it at. Stocks just don't go up to infinity every day. This does have the inevitable 5-10% pull back incoming before it tries the 38 again...perhaps the next time it will break it.
There is a VERY good chance it gaps down tomorrow.
Technically, I agree. I bought in the low $20's and sold after the announcement. I shorted pre-market the morning after earnings at $35.90 and covered for a nice gain to make up some of what I missed by not holding longer to begin with. I started shorting again in the upper $35 range and have just watched it soar. Bernanke could do a number on it tomorrow, but otherwise, I think the pullback is after month-end as window dressing by those wanting to show big positions in a big winner for month-end reporting could lead it higher.