Facebook Fizzle or Sugar High Crash
- Posted by Greg Harmon
- on May 18th, 2012
What a let down. A week of non stop hype, a hysterical pop and then right back where it started. The intra-day 5 minute chart shows that it traded very technically off of the initial Fibonacci levels and the round number 40.
I saw many interesting comments during the day. Did you know that Zuckerberg can roughly be translated to Sugar? I guess it would be best to describe the day as what you see with a sugar high then. Lots of energy a big spurt of activity and then falling asleep to end it all. Or perhaps a Sugar Mountain. Hey that reminds me.
“Oh, to live on Sugar Mountain
With the barkers and the colored balloons,
You can’t be twenty on Sugar Mountain
Though you’re thinking that
You’re leaving there too soon,
You’re leaving there too soon.”
How old is Sugarberg? Have a great weekend all! Don’t forget to update your status.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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