FB update

Back in July when this stock was just under $23 our best guess was that it might bottom around $17. It did not quite get there as it stopped falling at $17.55. Here is the chart:

fb oct 24 2012

In the event that you did manage to buy some stock at around the low, it might not be a bad idea to take your profit. From the of Sept. 4 the stock has followed a pattern that resembles an a-b- counter-trend correction. Provided the stock does not cross through the $25 plus a bit level this could still just be a 4th wave.