FB - perpetually on the slide

Facebook (FB) closed the week down another 1%, and is back in the mid 19s. With many truck loads of shares still to be unlocked, the downward pressure is likely to persist all the way into year end.


FB, daily

Summary

Primary target remains $15 within 3-6 weeks, and the target floor zone for 2012 of $12- $10 seems very likely this November. There could even be a brief wash-out move into single digits, but we'll probably need the broader market to be somewhere in the low sp'1200s to reach that.

FB still remains over-hyped..and overvalued.

Fair value remains $4

I would not be a buyer until $1.25, and even then I can think of far better places for my dollars.