Facebook Day 6

As we await the opening of the markets for the final day prior to the long Memorial Day weekend  I am sticking to my guns regarding the FB stock price.  There has been no reason to believe the stock will rise and every reason to believe it will drop back towards $30.00 or below.  This is based largely on the same factors that existed prior to the IPO, what I have been discussing all along, and a little bit on gut instinct.  Now it’s always possible that I might end up with egg on my face but I don’t think short-term that will be the case.  As I have stated in previous days, I would jump in to the melee if and when I believe the price is right.  Hey, might be a good name for a game show…..nah.  But I still believe there will be time to get in at the right price and we are not yet there.   A stock has to be more than just potential.  Diligence is the word of the day.

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