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Saturday, September 1, 2012

Is Facebook just 5.8% from an important bottom?

Facebook - Please see my last post regarding Facebook here first: http://theelliottwavesufer.blogspot.dk/2012/08/facebook-monthely-close-basis-facebook.html

We are closeing in on my 17.01 target fast. If my count is correct we are in the absolut last part for the decline from the IPO high at 45.00. Since the IPO Facebook has lost almost 60%, but once the bottom is in place here we should expect a massive rally higher towards the top of wave B, which would equal a rally of 96.6%.

It has been very interesting seeing Facebook keep falling, while the Nasdaq, S&P 500 and Dow 30 has been headed higher, just maybe a rally in Facebook will cause a decline in the broader indicies.


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