Facebook Day 5

Yesterday proved to be a fairly good day for Facebook stock despite all of the turmoil.  Everyone appears to be suing everyone at this point.  I suppose that’s what lawyers do.  In fairness to anyone reading this, I have not yet looked at the market despite it being opened for 35 minutes.  The reason for that is I once again expect little, if any movement from Facebook and if it is up ten points I’m willing to look foolish.  In addition to what I have been stating all along, now there are all of the law suits in the mix.  Nothing stocks hate more than uncertainty.  I again could see the stock closing under $30.00 but I would be surprised if it closes up more than 5% over the open.  Even though this is the fifth day of trading, one call still cut the tension with a chainsaw.  There are millions of investors out there waiting to get in or waiting to dump it.  I don’t know how many “holders” out there.  Any way you slice it, I believe the majority of investors now realize that this is a long-term investment, not a quick take the money and run scenario.  Update later this afternoon.

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