Taxes going up in 2013, CA taxes going up alot and FB has been manipulated to high levels. Any long that does not take the money at these levels and run is a fool. When the institutions decide that they have #$%$ much too much money out the window on FB it will be funny. DO NOT FORGET FUNDAMENTALS.
The game plan when the institutions poured huge amounts of money in FB is to create momemtum to keep it above $20. Large amounts of money have been poured into this like never before under the belief that the retail investors are too stupid to look at fundamentals.
There is always a bull market somewhere and my job is to help you find it. Hmm, sounds like I have heard that somewhere before.
Where did you learn the strategy to wait until a stock goes up about 15% in one day on huge volume and then buy? I must have missed that strategy in Common Sense 101.
I will bet FB will have high volume tomorrow as many longs sell going into the weekend after OPEX. Many longs will realize how lucky they have been and will lock in profit.
Supply went up a lot, price went up a lot yesterday and you buy near the high. What do you expect to happen? I know, FB is different so it is just gonna keep going up.
As the wind direction changes at CNBC the "experts" change their tune. Remember when FB was in the teens a few days ago and they said to stay away. Now, the price is up, supply is up so they claim FB is a buy.
Any other stock would have just fallen way back but FB longs like to buy high and get stuck. How many times do we continue to see the same thing with this stock. People insist on losing money with FB. Look at supply and demand. There is enough supply to get this lower if longs would just wait.
The institutions are just trying to minimize the down draft with the shares being released. There was HUGE money thrown at FB today.
I personally would not have shorted at $19.01. But, given the situation, he will be better off.
It will close in mid $21's today. There will be enough day traders to take the money and run after a day like today.
A PE approaching 180 for FB is just unbelievable. If you really think about what FB represents and a PE of 180 is truly the most ridiculous thing I have ever seen.
No the volume can't continue. This is HUGE volume. The price will pullback some this afternoon. The question is how much it will pullback. This is just a cushion. A lot of money was thrown at FB this morning to build a cushion. THEY want this stock above $20.