The drip drip downtrend continues, but the drops are getting bigger. No capitulation yet, still too many hopeful for a rally to sell into, especially with EXCITING Facebook coming! COVER Shorts!
Bulls will give up all hope after the FB IPO bombs. The bulls' last hope is FB. Remember that. They will not sell until they see that FB IPO meant nothing for the bags they are holding underwater. Of course at that point, we will be much lower and near the bottom. You will not see a capitulation until after the IPO.
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5 comments:
still wondering if i should flip FB?
Lots on negativity all of a sudden. It has to open higher Friday, doesn't it?
Timing is terrible.
Greedy SOB's. $34/share wasn't enough, so they went to $38, still not enough, sell even more shares and dare ask for $41. They are handing out as much punishment as possible for the sheep lined up for slaughter. I don't know who in their right mind buys this on Friday above the offering price, the market cap is over $100B at $41.
obviously they are raising the price and shares due to huge demand. Might hit $100 on Friday
of course now that the markets are tanking there is renewed talk about QE3....your thoughts OWL?
There will be a QE3 this year, just a matter of when, not if. The markets are even weaker than I expected, probably means we go even lower. Really think 1260 is the next stop for the ES, all systems go for a meltdown now. China is crashing, and Europe is hopeless. The US is next.
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