'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Friday, September 27, 2013

Now Facebook (FB) is Souring

Shown is the weekly chart of the social lovers, the Facebook, known better in the socials as FB. From its IPO in May of 2012 at a price of $42?, its drops to a mere $18 after five months. And from then, and after almost a year of consolidation, it formed a 'cup with a handle' (a Wall Street lingo, that means a bullish trend is in the offing), though the handle was a little bit extended. Looking at it right now it is souring, and Mark Zuckerberg must be 'zucking' his thumb with cash!