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FadeBook
Forget that S&P 500 e-mini futures plunged to four-month lows at 1290; or Treasury yields crashed back to their record lows; or Gold and Silver's surge today; or WTI's plummet to almost a $90 handle; or Citi joining Morgan Stanley in the red year-to-date; or credit markets continuing into the red for the year; or IG9 10Y soaring further to 160bps - widest in 6 months; or VIX closing above 25% for the first time in 5 months (and decompressing to Europe's pain). Today was all about one thing - the disaster that was/is/and will be Facebook - between late openings, overwhelmed systems, a dump to the syndicate bid and almost 600mm shares traded with the syndicate just soaking it all up at $38.00 early and into the close. Is it any wonder that every other social media stock plunged and how do they expect to ever get another internet IPO off again (at anything but a massive discount). No matter what correlation trick was tried to juice markets today - for the tenth day-in-a-row markets saw a BTFD turn into a STFR. Not a pretty end to the ugliest week in six month for the S&P 500 as it nears its 200DMA into the close.
Facebook...
and (h/t Dennis Dick) for the following visual of the HFT tractor beam in FB...
And the massive dominance of the syndicate bid (as who else could it have been) is clear in this chart of the volume profile for today...with Facebook's VWAP perfectly at $40 by the close...
Morgan Stanley = Zuckerpunched
FB needs to be Re-IPOed as the entire float is now held by MS again
— zerohedge (@zerohedge) May 18, 2012
And the S&P 500 e-mini futures SNAFU continues...
Utilities, Energy, and Materials are all now down YTD with Industrials close...
Gold had quite a week...
and longer-term stocks are catching up to risk-assets (proxied here by CONTEXT)...
And corporate bonds (dark red below) are now starting to get hit by the selling in the indices...
A quick run down of the day's events from Bloomberg TV:
Finally, this is what happens, Larry, when due to lack of real demand, you sell the second largest IPO in history to 25% retail, which has absolutely no idea how to trade a $100+ billion company and preserve the illusion of the ponz.
Charts: Bloomberg and Capital Context
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Time to cancel your FB account.
does aybody still have one?
I have certainly seen the dumber people love to talk about facebook ad-nauseum. It seems to be a way of communicating to people you do not want to ever call or email, from a business viewpoint I see it's usefulness, just not from the individual.
WTF was with ZGNA today, lol.....
Tanked..
They bought the farmville.
they SOLD the farm (ville) to buy FB
there fixed it for ya
Japan facing extinction. Since Fukushima, birth rate has plummeted even more.
http://www.foxnews.com/world/2012/05/11/lack-babies-could-mean-extinctio...
Trading in Zynga was halted after shares dropped by 13 percent after Facebook began trading.
were hedge funds trying to short FB by shorting a similar online entertainment stock ZNGA ?
Georgia guidestones part 1.
Part 2 (the final part) after the MF pools collapse...
General Electric "We bring great things to life!"
Soon they won't have any kids.
And the article didn't include all the mutated babies that the doctors are killing. That'd be an interesting number.
At least the Soviets let them live. Go figure.
http://www.paulfuscophoto.com/#mi=2&pt=1&pi=10000&s=31&p=1&a=0&at=0
Caution: Very real shit. Hug your kids.
Notice how info is hard to get on Japan?
I have to dig around to find it.
The accident at Oh-Shit_Shima may have been a lucky break for the authors of the Guidestones.
I think things are going to get weird as these govenments lose more of what what little credibility they have left.
Major PoW-WoW at Camp David today
Expect coordinated action Monday A.M.
http://abcnews.go.com/blogs/politics/2012/05/obama-hosts-g-8-slumber-party-at-camp-david/
Obama will be twisting arms
Obama the one-worlder socialist. He has to keep it in his pants until after the election, he will have more flexibility then........
And those arms'll all be giving him the finger.
Got to keep the US sheeple ignorant: No mention of the Fukushima disaster or economic demise anywhere in that article.
One by one... And when they do notice, it'll be too late: No more healthy, intelligent offspring.
not only that but it (fox) cites gov't stats that the fertility rate will be 1.35 in fifty years. it is 1.21 now.
http://www.indexmundi.com/japan/total_fertility_rate.html
Fadbook may be more appropriate. Can't wait till some other college smarty comes up with the next big social networking hit that the broader herd of mouth-breathing humans can't stop themselves from obsessing over and Fadbook becomes a punchline in the history of teh interwebs.
Methinks Pinterest will be the next over-hyped tech-turd...
You know some people have all the luck , take MDB for example he bought 300 shares through his trader at "whatever the price" and he has made a killing he can proudly tell his children what a good investment Faceplant was .
Unemployed Book
Facebook works for junior high school kids. And how much money have they got to spend?
A few years ago I joined Facebook. I stayed with it less than a week. Yes, I did hear from a few folks I was glad to reconnect with. But I also got a few hits from people looking for a handout. I could care less if this pos goes down the crapper.
<ring> <ring>
"Hello?"
<autodial pause> "Hi Mr. Muppet! This is Jeff at Morgan Stanley. Good news. I was able to get your facebook allocation after all! Can I put you down for a thousand shares?"
Why does this remind of more than one scene from Boiler Room? Why?
JPM, MS...it's been quite a week.
So who's the next to get their ass handed to them?
FB is a good way to share pictures with people you rarely see. It's also a place where all the kids are, so you can find them here. Other than that it seems to be a waste of time.
But the kids love it. they can't get enough of it.
the problem is, the kids don't have any money, that's why they spend their time on facebook.
which shows increasing their revenue stream is a pipedream. currently they are a 40 cent stock but wish to be $40 with their 100 P/E
How much would government, NSA, CIA, FBI, russian KGB, north korean military, Chinese military, Iranian military, etc. have to pay you for you to disclose:
Multiple that figure by number of suckers who sign up for a credit card for a junket.
does that help them make money?
Obviously many people find benefit with FB. I didn't. If I have pics I want someone to see then I just email them. As for 'it's a place where all the kids are'...that's another potential problem I see with all the creeps out there and the readily accessible info. Just my opinion.
Parents are there too, which is why the kids will eventually abandon it.
at some point, facebook becomes very uncool ... not there yet (if my 14 year old niece is any indication), but it can't be too far off ...
It's full of older adults & corporations.
Been that way for a couple years now.
FB is way past the point of "being cool" in the eyes of the youth.
Hence, the IPO...
And now? It's a publicly-traded company that needs to make $$$ -- sending its "cool" status even further down the totem pole.
I have had a FB account for at least 2 years....and have exactly the same number of "friends" as when I started --- one. Signed up to keep up with my son on the West Coast & he is the only person I commune with.
He, on the other hand, has almost 1500 "friends".
Facebook is just a piece of software that proves to you that you actually don't really like the people you know.
No shit! That is dead on.
I've worked in IT for 12 years and I still don't know WTF FB is all about. What a worthless piece of...
It's about the guberment mining all the info and pictures it possibly can and creating massive databases storing all that info in your personal file for future reference.
It's all about wasting time on gossip and superficial socializing, the same sort of crap that when done via cell phones and texting results in you sitting behind some moron at a green light or turn arrow for 50% of its duration... or until you honk.
Car in front of me at a light gets a three count before a courtesy honk. Another three count and if they still don't move they get the prolonged honk with angry hand gestures.
FB TO $100. Suck head will be the 1st trillionaire
ever...?
Facebook was an EPIC FAIL today. Gold was up! Don't hear the mainstream media talking about this.
http://ericsprott.blogspot.ca/
Would a Facialbook be more profitable?
Currently a skin care site; yes, XXX Facialbook would make much more profit than either.
Perhaps face lift book might drive a business model.
Yup - FB IPO = Epic Fail.
And no way 'they' - the pc algo's or whatever dark force is at work - was the FB IPO share going to go under $38 - not even one single penny. Psychologically that would be devasting for FB.
And all the while Au/Ag made a nice recovery over the past 48 hours...all quiet and unassuming.
Illuminati controlled Main Stream Media interpretation of Gold is that it goes 1 step forward and 2 steps backward...
When the reality is - Gold is going 3 steps forward and 2 steps backward.
Gold?!? Barbaric relic. Charlie Munger said gold is for uncivilized people.
We all need to love FaceBook/CIA/NSA, SkyNet, and the Vampire Squid.
Well with GM withdrawing their AD $$$$$$$$ - WHO'S NEXT??????
FakeBook, Fed Book, Fail Book whatever...... Stick a FORK in em, they are DONE
Bitchez
Nemo
Creating a Facebook account and loading it up with gobs of personal data is (and always was) a bad idea. There is no telling how long that data will be stored, who may access it, and how it may be used in the future.
In the future all of FB will be in a torrent.
This article (from July, 2010) really got my attention when it broke. Alarming stuff re. FB accounts and torrent files...
http://www.pcworld.com/article/202167/the_facebook_data_torrent_debacle_...
It will only get worse.
FB has compiled a massive amount of personal info. on hundreds of millions of willing users. That amount of personal data will prove irresistable to people in power (imho).
I think we were saying this a few weeks ago. We should all open an account an put total bullshit about ourselves, our family, our "preferences" fake photos, just anything to screw up the database.
Interesting notion...
Indeed. If you post enough bullshit vacation pictures, monday-morning sad face emoticons, and random inspirational quotes on your wall, the government will never suspect that you are stockpiling gold and guns in a secret underground fortress.
Guess I'd better go update my status. /sigh lolz
You can't "cancel" a FLATbook account. You can only "cancel" the ability for others to "see" your profile.
Nice feature ZuckAIPAC.
Hotel CIAfornia, bitchez.
Good point. No telling how long all that personal data might be retained and who might have access to it.
That, Sir, would be forever.
Well, correct, but we can bet that they are in Utah.
- Ned
Facebook ... yet another hollow 'company' with no products to provide a return on the mal-'investment' in them.
Except other people's (rendered non-) personal info.
East German Stasi ... amateurs.
There is a delete account option.
Barbaric tin foil hat wearing mofo that I am spent 2 hours deleting ALL the content (pictures, page likes and friends) before I actually used the delete acount option.
How can someone know that Facebook actually has permanently removed and deleted all the data it stored re. their account from its data servers?
When Fed SWAT teams break in and plant evidence in your house, then you'll know that you are released from the Matrix.
I can pretty much guarantee you that it isn't.
I don't know about deleting content on your page, but anyone stupid enough to invest in this sinking ship deserves to have their bank account deleted!
Exactly. I'd keep it open in a perpetual blank state (all likes, posts, EVERYTHING deleted) for 6 months to 2 years. Give their database servers time to purge your archive data. After that close or not doesn't matter.
It doesn't matter if it rolls off FB's backups, because it will all be in the big NSA data warehouse in Utah.
Try back in a month. You'll be able to log in.
They delete nothing.
If you delete the account you can no longer log in.
Paul,
Just go log back in and there it is!
Delete is a relative term.
If you delete your account it will be ‘deactivated’ for two weeks same as a normal de-activate but after the two weeks it will be permanently deleted (as for the content it is most likely saved...only the Z man and the NSA know for sure). Do not login to your account during this time as it will cancel the deletion request. After the 2 weeks is up you can no longer log in.
As for delete being a relative term...for facebook I am sure it is ;)
Someone suggested posting nekked womyn on yer facebook acct to get banned -- it might work.
Not so fast with the fadebook-it's up 10% AH!!!
http://www.marketwatch.com/investing/stock/fb?link=MW_latest_news
AH algos goin crazy
Interesting link. I followed it and saw "Facebook Inc. Cl A". Did they mean CIA? Are they admitting it?
More than likey these trades were made during the day and are showing in the after hours but have no bearing on current price.
Yeah, we can't have the core of the urban spy network going belly up ... release the Algos!
Like
Could not be happier. Honestly can't get the smile off my face.
+1 No kidding! Awesome day!
It looks like MS spent $1.7 billion to defend $38 before the close.
Agreed. Facebook goes nowhere fast and I take delivery of silver purchased at almost bottom price.
Not a bad week for this barbarous relics hoarder.
Only barbarians are not on Facebook.
No Shit! I too went on a PM binge right before the upswing. I'm starting a new IPO, GOLDBOOK!
But how do you sew electronic Facebook shares into your clothes?
Use an app that runs on a multi-threaded OS! (thanks, try the veal) :>D
"On the first day of trade the underwriters are obligated to support the IPO price. Let's see how it does on Monday."
MS must have nearly all the stock now. Must've cost them a pile. We'll know in the coming day or two whether they can unload it without losing a load...
Got all my Facebook stock updates on Twitter....hmmmm
Oh but you missed all of the gossip about the Kardashians, and getting messages from your great aunt in Broward County....
I understand Broward County and great aunts, but what's a "Kardashian"?
A dreary coffee-coloured heifer with silicon udders and a corrective ego implant.
/me Likes this
Its the new myspace.
it's new egg-on-the-face for Goldmans
'The Invincibles' of GS and JPM have taken a bit of a hammering this week
rotten eggs anyone?
For some strange reason I seem to be having trouble logging into my GeoCities page....
Once was enuff...
You have to love metals against this tape. Maybe the Morge is starting to feel the squeeze against their short positions there too.
Very unusual indeed....the strength of Gold in particular when VIX is so high makes me wonder. Arn't all the lemmings supposed to rush into $US treasuries and sell gold when things get ugly????
What is Jamie up to?
Though I'm pleased w/ the rise in Gold, cautiously optimistic is a good description. The jump in Gold was not due to sudden muppet revelations.
The market is a big Casino.
The whole thing is rigged.
A bit of casino odds measurement:
Close was 1295. Dec 31, 2011 (and btw also Dec 31, 2010) was 1257. Yes, for both 2011 and 2010, same close (tiny fractional difference, 2011 was DOWN from 2010).
This puts the silliness up 3.02% for 17 months. Negative real return.
facebook is horseshit people. Dump your account immediately.
the original facebook.
http://www.flickr.com/photos/7388762@N03/4789782933/
Meanwhile Theophilus Hodges, a 36-year-old property manager, stopped into an E*Trade branch in downtown Chicago on Friday morning specifically to open an account to buy Facebook shares, he said.
"If it wasn't for Facebook I wouldn't be here," he said as he left the branch to go to his bank and transfer money into his new account. "I missed out on Groupon when it went public, so I'm not going to miss the boat this time."
Mr. Hodges said he plans to invest $10,000 in Facebook shares—including $4,500 of his own money and $5,500 from his mother.
Mr. Hodges expressed confidence in Mark Zuckerberg as Facebook's CEO and said he isn't worried about Mr. Zuckerberg being young. "To me, he's a genius. You know, he created something for the whole world... Everything is social now. The world is a different place with Facebook," he said.
From the WSJ
In other words... when your shoe-shine guy starts telling you about a stock, it's time to run. BUTCHER THIS PIG!!
I hope he enjoys losing all of that money.
Theophilus Hodges is $MDB
The first name sounds Greek doesn't it?
Yes, it sounds Nubian, Sub-Saharan Greek...
Edit: Go ahead, junk me. I've met a lot of Theo's, but anyone rolling with that full handle...I'm just saying...
Sounds like his mom liked alphabet soup and almost got a real name............. Almost
I didn't know MillionDollarBonus' name was Theophilus...
edit: crap, someone beat me to it
;-) jinx, buy me a jack n' coke..
^ + 38.00!
*$38.00025
*facepalm* > schadenfreudian transition > contemplation of darwinian survivalism > smirk
Between Rahm and Zuck, Theophilus is FUKKED!
> You know, he created something for the whole world... Everything is social now.
"Look, this is just an informal chat. We were wondering what you were working on in your lab?"
"Well, I've invented a pill that gives worms to ex-girlfriends."
"Right. And, what's positive about that?"
"Well, it's a pill, that gives worms to ex-girlfriends."
"Well, could it also give worms to ex-boyfriends?"
"This is a drug, for the world, to give worms to ex-girlfriends."
http://www.youtube.com/watch?v=J5aiDuemgJ4
I didn't click on the link that's Brain Candy I think! Great film let me see its been a while...
Six months from now on the phone: "Hello?"
"Hi Mom, it's Theo,(long pause) Mom, Mom?"
CLICK!
Yes Facebook will make a lot of people less social with each other, the irony...
Late today it was announced that a Mr. Theophilus Hodges was appointed Greece's Minister of Finance.
That's why the euro surged late.
is this /sarc?! or are you for real?!!!!!!!!!
I think the real question is - "is your question sarc or for real?"
Many Real Estate people jumped on the Band wagon in 2000 who never had previously invested their Money in the Stock Market and lost their Ass ets.
Never to trade ever again.
But, but... GRPN is down 55% since it launched. What exactly did he miss out on?
FAILbook!
Here's to seeing the end of that POS excuse for a "company" by the end of next week.
Check out all the other recent IPO stocks (P, Grpn, Zynga, LNKD etc)....all of them got whacked today. I smell some fear in the air.
LOL!
No, seriously ... LOL!
They waited too long. Like a fine wine that's faded badly. Like a once beautiful woman. Like a flower that's just starting to fade.
Like a bloated corpse that sits in the garage long after the car has run out of gas?
pods
Here comes another bubble At least webvan came with paper share certificates which you could sell on ebay in a decade
Zuckerburg is throwing a party tonight at his crib. I wonder if he will get shit faced?
I think they call it Laughing All The Way To The Bank.
Suckers!
Monster Energy Drink and Ugly Asians Woooo Hoooooooooooooo...........................
Wont be a real CEO until he figures out hookers and blow......
A Suggestion: Next time, don't focus on FACES. Aim a bit lower......just sayin'
Pussybook?
I will tell my grandkids - I was there when it happened, and they won't have a clue what I'm talking about.
they won't have a clue what you're on about because it was floated at $38.00 and probably closed at $38.10 and think, "Grandpa thinks watching paint dry is an event, WTF???"
Funny shit zero govt!
Where will it trade when you can short it
It was amazing to watch the bid size at 38.00. It seemed unlimited. I had straight 99999s across my size for the longest damn time toward the close. Seems someone was not nterested in seeing any 37, or lower, print. Kinda fishy to me.
Are you intimating the stock markets aren't perfectly efficient or free? What the fuck are you getting at? I think the markets are fine. Another fucking conspiracy theorist. Bob Pisani said in Trader Talk that he wants Facebook to succeed. Maybe people were just following his sage-like advice.
Just so ZH knows, I went long VIX at 15. What a fucking no brainer. I'm not a particularly gifted investor but YOU CAN"T GO WRONG SHORTING FACEBOOK. BET THE FARM. Unless QE3 rolls into town......
I actually loathe investing because I don't want to contribute to that system. The only way I can morally justify any kind of financial "trade" is by thinking that there might be some fund or investment bank on the other end. I really like the idea redistributing wealth to me. If anyone has any adivice on expediting that process please chime in.
"I had straight 99999s across my size for the longest damn time toward the close."
HFTs.
There is no way they will let it drop below $38.00. They closed it at $38.01. What a joke.
After-hours trading, bitchez!!
You should print out the chart for FB today and frame it. It will make a lovely curio in years to come when your grandchildren ask you to tell them about the madness at the turn of the last century.