FB - Facebook - Page 8

how bout neither

I'm going to short the shit out of this thing come monday. 

This stock is not worth more than 5 bucks. Mark zukerburg inflating the ipo so he can dump his shares for top dollar. This stock is a big pump and dump! Shorting is the way to win.

i'm longing.

Good luck to you.

My broker nor I know if my order for 20 shares went through.

My broker nor I know if my cancellation order when through.

 

That’s my short version.  My long version is in my journal.

 

I honestly don’t care whether I got in or not.  Oddly, I’m leaning towards hoping I got in despite a possible down slide.  I think there’s some lifeblood in this thing yet.

It is wise to wait for a base, overall market accumulation, and then reevaluate for any IPO. Otherwise it is just gambling.

At the level's best, my level 2 read 99,999 size on NSDQ alone... I guess the developers of our platform never expected a larger size would hit level 2. lol.. ($3.8 billion worth of stock..)

~50,000 more on Arca... and more on others...

All at $38.00

When we were watching that level take a beating... shares just pouring into it... it took a while but eventually the 99,999 size started to get hit down below.. and we could see it get shaved down slowly.

Most of the office were taking longs.. .some flipping in and out between evens and 01's (holding some for a spring up.) But we were pretty much all flat as we saw the 99,999 order get smashed down to ~40k size... just in case.

When the level got down to just 20k size in the last moments of the day.. the office was ready for a show (get the popcorn.)

Then in an instant, someone hit it hard one last time bringing it down to nearly nothing (relatively), and NASDAQ refreshed the order for another 60k like it was no big deal (bloody deep pockets that MS has).... it only took about a second for traders to buy once the saw that bid refresh... and it took off for the end of day pop we saw.

I was flat by this time. Sure, it was highly likely MS would keep the level strong, but execution was iffy when levels break and I didn't want to find out how much I'd be slipped if MS gave up or wanted to let it slide a bit before buying it back up.

Flipping amazing day... and now we'll have FB to flip around all next week on great volume and good price discovery today. (But if we open ~36 or below then it's hands off til we feel out some levels first.)

Greenshoe is what its called

 

 

http://en.wikipedia.org/wiki/Greenshoe

When will FB be available to short?

THIS WEEK

Whats everybody predictions for this week?

Good little table on FB's underwriters. 

If shorting wasn't available Friday then how did Merrill Lynch mess up and sell 300 shares that I didn't own?  I don't even have a margin stock account, yet due to their glitch it appears to have happened.  At least I'm "up" if I do have to cover it, although I don't have options on my account to buy to cover.

 

And what does "pending settlement" mean?

 

well looks like im a facebook shareholder now 200 shares at 41.50ish im not sure exactly because my account doesnt tell me what price i bought it at.

 

I also have a margin call.  I will have to sell at least 100 shares in premarket so i dont have scottrade sell my apple shares.

 

On the bright side, i sold apple at 541 and bought back at 530 so overall for friday im only down 90 dollars, it would have been around 700 dollars down if i didnt trade apple. it still stinks but im not gonna get all worried about it, whats done is done and its my mistake for trying to buy an ipo. Never again.

 

Im hoping I can sell in premarket and if they are doing well maybe ill keep 100... but if they are down at all im gonna sell them all for whatever price it is at 4am pacific time when i can start trading 

 

I did send a letter to scottrade saying I was looking for a new broker and that its unacceptable to buy a stock and then not even know if i bought it till a day and a half later.

 

I doubt they will care but if they dont do anything im gonna find another broker. I figure if they can give me like 100 free trades or something that would make up for it all, but they arent gonna do anything they dont care.

 

I was planning on playing a pop at the open and i would have sold for a small loss, i dont think its right to stick someone with shares a day and a half later. They should have cancelled all the transactions that didnt go thru right away. Its also not right to not let me sell my shares that i didnt even know i had.

 

The brokers should provide some compensation for what happened but they wont.

any thoughts on monday?

 

Id love for a pop premarket, will facebook even trade in premarket?

 

This may be the majority sentiment shortly. 

okay I called scottrade today my shares were bought at 41.20. It still doesnt list the price on my account nor is it in my gain/loss section.

I now have a margin call because of this, I tried to purchase facebook shares friday morning the order said pending all day long then at the end of the day the order vanished and it said i had no open orders so I bought my apple shares back at 530 *i sold them at 541*

 

They said they wouldnt liquidate my shares immediately and that I probably have a few hours on monday to get rid of them before any forced selling from scottrade.

 

On the plus side I am only down about 90 bucks from friday because of my apple trade.

 

I am thinking facebook is probaby going to crash 50 percent on monday, I am going to sell in the premarket hopefully over 35 dollars a share.

 

I did ask scottrade if i would be able to sell my shares on monday and they said i would be able to.

 

I will be glad when this nightmare is over.

 

Anyone have any thoughts on to how much facebook is going to crash on monday, im hoping it doesnt crash more then 10 percent before i can get out.

 

This will probably be the second biggest trading mistake i have ever made, Never again will i buy an over valued company and never again will i buy an ipo on the first day.

Nate, never say never, just learn from your past actions and adapt in the future. 

I don't see Facebook crashing below 38 unless overall market gets hit hard this week from EU. Underwriters still have enough cash to hold the 38 line for all of the retail "investors" that thought FB was going to go up 50% on the first day. This changes if more institutions start selling as well though. 

I can see FB hitting $50 in the near future, why not? I'm sure if there is a sell-off and this drops to the low $30s there will be lots of buyers and the price will be brought back up again due to the demand. Don't panic sell Nate, as I'm becoming more and more accustomed to trading options, I've learned to never sell too early simply because of panic. Have an exit strategy and stick to it, but don't make rash decisions.