Short facebook. On Nov 14th, it will be trading under $10

For those that still have a doubt...go check out insider transactions.

250 million shares sold in last 6 months.

How many shares purchased by insiders?

47,000 (by 1 guy that was affiliated with netflix and made millions selling that stock last year.)

Here is even the COO selling 100s of thousands of shares week after week.

http://finance.yahoo.com/news/facebook-coo-sheryl-sandberg-sells-233136619.html

The true value of this stock right now is around $4 to $8 per share. Still has a way to fall.
 
I like to see if fb will decline after the market bounces after todays minor bottom. My belief is that it will, so this is what my foreasting system has weakness on fb starting 11/9 and 11/19 another surge on the decline.
 
Yea, I'm planning on covering the position today and getting short again on Monday if there is a bump. Today's sell off is too steep, it is likely to bring out some bargain hunters next week after the panic subsides.
 
Well up to you, but I think the reason for the drop is because the Oct lockups are selling now before the Nov lockups come out of the woodwork next week. I know if my facebook lockups came out in October, I would be rushing to sell before 773 million potential shares came on the market next week.

Personally I think its a mistake to cover, but I know traders gotta trade, right?
 
Well, a lot of uncertainty over the weekend, there could be some progress on fiscal cliff, etc. Still think short is the right direction, but there could be an opportunity to hop back on at a better price on Monday. And if not, can't complain too much about 10% in a week.
 
Quote from fareastcoast:

Well, a lot of uncertainty over the weekend, there could be some progress on fiscal cliff, etc. Still think short is the right direction, but there could be an opportunity to hop back on at a better price on Monday. And if not, can't complain too much about 10% in a week.
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Should've bought the puts like me. Although I havent locked it in yet, I'm up 175% for that same week. :)
 
http://www.cnbc.com/id/49766812?__source=yahoo|headline|quote|text|&par=yahoo

Thought I would update. It seems Cramer said on Friday to "wait until FB hits $18 to buy" I suspect FB employees whos lockups are going to expire next week put him up to it. Get all those buy limit orders in at $18, so when they sell, there is a nice cushion to stop the stock from going down so fast.

I mean, Hell...if i had a million shares of lockups, I wouldnt think twice about offering Cramer $50k or $100k or so to open his trap and tell people to buy at $18.
 
as a follow up to my post on 11/4/12 where i said to short below 20 - the stock is now dangerously close to taking out its prior support of 18.80 - if it goes below this look for 17.55 to be the final line in the sand.

there is no reason to be long right now unless you're playing for a bounce of the support area mentioned above w/ a tight stop.
 
Quote from peilthetraveler:

http://www.cnbc.com/id/49766812?__source=yahoo|headline|quote|text|&par=yahoo

I mean, Hell...if i had a million shares of lockups, I wouldnt think twice about offering Cramer $50k or $100k or so to open his trap and tell people to buy at $18.
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yes i am sure jim cramer would jump at the chance to kill in TV job, open himself up to prison time, and risk being sued for the 100 million he is worth. maybe you can offer derek jeter 50k fix a few games too while your at it.
 
Quote from brokerboy:

yes i am sure jim cramer would jump at the chance to kill in TV job, open himself up to prison time, and risk being sued for the 100 million he is worth. maybe you can offer derek jeter 50k fix a few games too while your at it.
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If it were illegal to accept money to advertise stocks, writers for motley fool, seeking alpha and the like, would be sued everyday because they are paid to write articles about stocks. As long as you state whether you own or do not own and don't make a transaction within so many business days of that advertisement, you can accept money. There is really no difference between a writer and a TV show host, just one is written down and one is using the spoken words. It might not be so blatant as "here is $50k, tell people to buy facebook", but its the same scenario, just written in a language to make it legal.
 
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