nothing today but lockup profit taking
This was the last lockup today. Profits were taken with baited breath by those who were willing to give up the forward price spiral to come. Ad revenue will increase over $4 billion in the next 12 months and new mobile APPS are being added as I'm writing. The outlook for Facebook shareholders is brighter than it ever was for Amazon and Google combined.
Facebook will go to at least $38 the IPO price within a couple of months and should attain a share price of better than $50 next year and higher after that.
Facebook will go to at least $38 the IPO price within a couple of months and should attain a share price of better than $50 next year and higher after that.
Re: nothing today but lockup profit taking
If you think this was a one day sell-off, you're new at this. This is a reversal patte...
If you think this was a one day sell-off, you're new at this. This is a reversal pattern, at least short term. I expect it to pull back to at least the low 24's from here. If it stabilizes there, then it's probably going to the low 30's. If it breaks 24 support, then new all-time lows are on the way. Either way, there well be follow-through on the selling throughout next week.
Since it closed at support, my guess is there will probably be a pop first thing Monday morning, or a higher open, but it will sell off throughout the day, and further down on Tuesday. Count on it.
BTW, I think you're blaming this on the wrong expiration. As I keep saying, I think *options* expiration has at least as much to do with this as the lockup expiration, and probably more. The same institutions that drove it up and wrote all those calls that are way in the money now are getting themselves a double win by selling shares to take profits, and thereby driving call values down.
Since it closed at support, my guess is there will probably be a pop first thing Monday morning, or a higher open, but it will sell off throughout the day, and further down on Tuesday. Count on it.
BTW, I think you're blaming this on the wrong expiration. As I keep saying, I think *options* expiration has at least as much to do with this as the lockup expiration, and probably more. The same institutions that drove it up and wrote all those calls that are way in the money now are getting themselves a double win by selling shares to take profits, and thereby driving call values down.
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