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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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Today was a great day. The MUPPETS told wall street....FU. The greedy pigs are squelling!
Sit on my Facebook and tell me that you love me.....
best comment[sic] from yahoo!
Blue Horseshoe does not "like" Facebook.
Bernank probably shit his pants just now, thinking "what if I announce QE3 and market treats it as IPO of FB?"
Soggy firecracker. Little smoke then nothing.
that's not what Jim Cramer was saying would happen
..aren't we supposed to be at $70.00 by close?
Cramer is going on a long vacation soon... He couldn't get the muppets to dance to his tune today.
I do not like Cramer but I thought he said do not buy at the open.
I have a balanced mutual fund evenly spread across YouTube, Twitter, and Face Book.
It's called: You Twit Face
Just what Morgan Stanley needed. To be holding millions of an overpriced inut!!
Always LOVE the non-trivial (aka, non-CNBS) analysis you guys do here. The HFT stuff was a trip. So very few know what's actually going on in the markets in which they foolishly invest.
"Traders with bowler hats can make a cool million on a .06 move, as long as they are me with my tractor beam!"
http://www.flickr.com/photos/79008263@N05/7074511733/in/photostream/
One man's Facebook is another man's Match.com -- the best thing about FB is all the past women of yesteryear that surface and send you requests once they get divorced
Thats cool
Divorce then FB requests...I know of a few cases where it happened in the reverse order.
While I'm not one to believe in metaphysics or mysticism (visions of the Virgin Mary on the side of a grain silo, etc.), the following can only be described as uncanny:
If you turn today's chart of FB upside down, you get an exact caricature of former Yahoo! CEO Terry Semel giving Zuckerberg the finger. Honest !
(I guess the lost chance to buy the company in '06 for a cool $Billion had to hurt).
Here's a photo:
http://articles.businessinsider.com/2011-01-03/tech/30319395_1_mark-zuck...
This simple line chart makes it more clear than Tyler's above: http://www.google.com/finance?q=fb
I'm finding this surprisingly easy to masturbate to.
Quote of the week!
the syndicate can buy whatever they need to support the price. at the end of the day if they're holding 200 million shares in inventory that they coudln't offload to some idiot somewhere else, they'll simply cancel those shares and FB just gets less money. no big deal....pun intended.
554 million shares sold, only 2.2 BILLION more to sell:
http://www.google.com/finance?cid=296878244325128
No way in hell are they going to be able to hold the price above $38 when they could barely manage that today.
ZH - or willbanzai7 - T-shirt:
565 million shares traded all I got was a lousy 23 cents.
Please like me.
Proof that retail did not participate in the IPO:
ETFC,IBKR,AMTD,SCHW,NDAQ,MS ALL DOWN TODAY
Awwwww... And the HFT traders were counting on retail suckers...
I hope FB insiders that excercised options but didn't sell today are shitting their pants over the weekend.
I would enjoy seeing "DOT COM VER.2.0" capital gain hell.
The idiots deserve everything they get just as they did in 2000.
What an overhyped POS. Well, I guess Zuckerberg rendered to Cezar today, and that's it!
What a sloppy way to debut a new stock offer. I would have pulled the plug and walked away, net -0- at the end of the day for most.
Mazel tov
Facebook Inc. (FB), the social network operator whose shares began trading today, was sued for $15 billion in an amended complaint by subscribers who claim the company invaded their privacy by tracking their Internet use.
In the complaint filed yesterday in federal court in San Jose, California, the plaintiffs say Facebook improperly tracked users even after they logged out. Twenty-one cases making similar claims have been consolidated before the court.
The latest filing seeks to proceed on behalf of U.S. residents who subscribed to Facebook from May 2010 to September 2011.
Facebook has been doing that for at least 4 years - Go to any website with their social plugin - even if you log out - you will start seeing which of your FB friends read that articale -
some big examples - WaPo, Huffington Post, the whole gawker family of websites.
Google tried the same with its failed venture Google buzz.
Whats funny that the bankers, lawyers and silicon valley "entrepreneurs" involved in this mess probably see each other every Sabbath in the same Synagogues in NYC and Bay Area
There's a new twist to the story though.
FB promotes products to you that your friends supposedly "like" and when you ask your friend about it, they never heard of it.
It's completely off the charts grotesque and the worst kind of manipulation.
Say for example, we know each other very well and we both had FB accounts. Then one day you get a message stating "walküre likes Bud light" when you only remember seeing me drink Warsteiner. If you liked me enough, you might just find yourself buying Bud light when you come over next time and then all hell would break loose.
I'm pretty sure that any and such particulars are promplty and extensively covered by the clusterfuck that is facebook's user agreement, which apparently holds you liable for your first-born upon subscription, in exchange for the right of having a profile where random people comment on high-contrast, high angle photos of yourself drinking latte while hugging a panda on a trike.
Dude, trying to drink over here it's Friday.
Useful:
https://disconnect.me/
Classic. the only thing missing from the clip is Walter telling Donny, "STFU Donny." And after this debacle today, how many MS internal meetings over the weekend to ask the all important question, "Boss, WTF do we do with all this shit at $38?"
"Oyyyyy."
http://vegasxau.blogspot.com
I'm thousands of miles away from Wall Street, but I could smell the fear on this tape. I think the IB's went a bridge too far today.
Where is my NIA mail telling me how much better an investment SYNC is then FB?
Facebukkake
redundant.
WTF
AH print of $42 flashing for split seconds several times and back to the 38 handle.
Stick a fork in it.
Apologies for cross-posting, but I'd really like to see a crapton of 'likes' for this:
http://www.facebook.com/pages/Shore-T-Faycebuk/290432514382589
Short Facebook needs your support!
That would require me to have an account, then login.
Nice idea though, best of luck.
This is so obvious, so clearly goddamn manipulated from 11 AM EST through the closing bell. Unbelievable horse@hit.
Post bell, I'm listening to the big Fakebook buyer assclowns on Bloomberg using the same lame-ass, 20th century sale pitch used to pump the .com insanity for years... 'The user opportunity! Now, people can pay for things on their iPads! That's never happened before. Its that easy! All these people will buy while they socialize! Maybe not now, but in the future! It's only upside going forward!'
(eyeroll)
I remember sitting in a telecom start-up in the late 90s listening to some hotshot talking loudly about how he took home equity loan and emptied his saving account to go all-in for the etoys.com ipo. $78/share opening price. He was bragging about about his insider information on how it was all dialed-in, a total cash cow... Sometimes I wonder if he ended up taking his own life, or if he's one of those meth addicts that they scrape out of a dumpster on the 'COPs' tv show.
http://www.cnet.com/1990-11136_1-6278387-1.html
All I can say, if this is opening day 'pop', then good luck, suckers. You 'Fakebook' buyers can at least point to the singular moment in your life where it all went wrong, that one wrong step that changed everything and led to your utter destruction.
How soon until we can short this crap game?
Lake City?
My Mom lives near there...
So there was a miraculous bounce of $38.00 around 7 mins from the close.... just as the 38.00 bid was down to 25,000 lots, they were suddenly bid for 100,000 and it moved to 38.10 and then higher.
So tell me, how come the bid wasn't buying any when they were freely available for ages between 38.00 and 38.10?
we told you not to take the red pill.
Did anyone ask how many of the facebook users are actually fake/dummy accounts?
Are you suggesting that all those pages created for people's cats aren't for real cats? How dare you, sir?
I think most mafia wars players created about 499 fake accounts each.
i have 8. the cast is southpark characters and i have no idea what adds they run. i do it to run the solitare game.....boredom is what it is used for.....facebook is the worst run and managed "social" network but they do have libertarian sites i joined, all of us. that is until the dog eating racist hatemonger gets re selected by the mob
I have 82. I drank too much Red Bull one night and was bored. I had to do something.
I have 4 facebook accounts. I have 6 personal email accounts. I have only one Zerohedge account.
Zerohedge IPO
Also, how about those who signed up, left after a while, but never came back?
Did they count inactive users in their totals???
I bet they have half the number of active users they claim...
My sister signed up and posted all the grandbaby pictures, refusing to send them any other way, to force other family members to sign up.
"Once you sign up you'll see how great it is!"
I tried to sign up, but it wanted a bunch of personal info, so fuck that.
Imade up a bunch of stuff, got the pictures, and never went back. Timmy Smith is probably still 'liked' out there somewhere....
Hah! Love it, with the every detail, especially the pause that occurs after the light on the console in the boiler room finds the 1 chump in a hundred that answers his phone, and the mad dash by the broker to net that fish before he gets away.
next move for ms, create a social networking etf?
How about a 3x beta short Social Networking ETF, I would be all over that.......
CRM PROFIT SOARED TO -.12 A SHARE AND IS UP 13% TODAY.
Whoever is buying that company is completely out of their mind, just leave that piece of shit alone, its impossible to get a decent short when dealing with crazy...
CRM is heavly controled by Nyse. Even when it pulls back it runs right back up. I do not knowe why Wall Street loves it so much but someone manages the shares. Used to trade it but stopped. To controled.
The problem with CRM is that the Executives take too much money out of the profits thru their compensation. Shareholders are just there to feed the insiders. You would think it would be a good short but for some reason Wall Street likes the fact that the Executives are Raping the value out of the Stock thru compensation.
"Granted, the stock looks very expensive, trading at 85 times forward earnings. But as long as Salesforce.com performs, its stock will likely be dear. It's just that kind of a stock, one that's built to trade at a premium. And though of course a fall from grace could be severe, the stock has blown away the Nasdaq since it went public in 2004.
So hold your nose and take the plunge if you're ok paying top dollar."
This explains the ridiculousness of the stock well enough. As long as the stock goes up it goes up. No one knows why they own it...
Zuckerberg grabed all of the value out of Wall Street and left nothing for Shareholders. Plus, no voting rights.
Maybe he is as smart as they say.
I'm guessing he got a little "help" coming up with those ideas....
Another CIA Asset... What can I say...
Delete *everything* from your Sh__book account and leave it open with a nice picture of Tahiti on it. Instead of "deactivating" it which is all closing does.
Everything still goes to, or will go to, the huge data center the govt is erecting (or is it completed yet?) in Utah.
Oh the wonders of true price discovery.
What's that?
Mark to Myth.. just sayin'.
I posted these charts several weeks ago and the massive Head & Shoulders patterns are even more prevalent now. Again, notice how two major exchanges NOT priced in US dollars are showing the same perfectly bearish pattern. I think I can guess how this is going to end....
Toronto:
http://stockcharts.com/h-sc/ui?s=$TSX&p=W&yr=6&mn=0&dy=0&id=p87623751908&a=267382093
The UK:
http://stockcharts.com/h-sc/ui?s=$FTSE&p=W&yr=6&mn=0&dy=0&id=p05933321023
Copper:
http://stockcharts.com/h-sc/ui?s=$COPPER&p=W&yr=6&mn=0&dy=0&id=p15855743380
They couldn't even get a 1% gain on the first day for the nightly news. That's FUCKING SAD.
Me thinks Tyler and the rest of you are showing some major envy green- for the nice shiny slot mackine that Zuk installed in the big casino. The marketing hype guys did their job, and the pushers came through. The "system"is working.
Y'all just couldn't find a way to profit from it- or you would haver been all over it.
I don't own a smart phone or subsribe to the social media movement, but FB has helped me contact some long lost friends, and I think that's great (and free).
ZH is fast filling up with armchair judges/naysayers (complete with foul language) and pontificators at levels heretofore unimaginable.
We are here to digest information that is pointing to major changs in our lives- and help each other.
STFU!
"(and free)"
Brilliant! You just made the nayser point for us.
I Upvoted since "ZH is fast filling up with armchair judges/naysayers (complete with foul language) and pontificators at levels heretofore unimaginable." is true
However, it should be noted that most people are displeased not because they were able to profit but rather because it offends our sensibilities. Not everyone would jump at every profitable opportunity. After all, if that were the case, we'd all be drug dealers ...
"Me thinks Tyler and the rest of you are showing some major envy green"
Very few if any here envy the hypesters or thieves nor do they pity the suckers. There is no "envy" involved, only contempt for the stupidity which enables the wholesale profiteering by unethical scum.
Wish I could plus this up more.
Here's an Honorary +100.
Exactly.
Hear, hear.
Had the concensus of fundamentals been in the green, I think all of us here would have tried to profit.
How do you expect a free social service to profit-- unless it's filled with adz--or--sells off your info!
I knew to steer clear once I saw the revenue vs. the IPO price. That is just common sense!
Ahhh so it was you on that 38 bid. Alls fine now.
You got me buddy. I'm so envious for not being an insider pushing garbage or a HFT operator.
/sarc
Earth to mother ship:
there are no more intelligent lifeforms left here
mission accomplished
Developing story..
"SEC launches inquiry into Facebook trading glitches"
I don't know when the story will be up. Possibly never?
My appologies, I leveraged my first post.
Algo's went apeshit today in Facebook
Bid Size Fall Cycle repeater: http://twitpic.com/9mi6tx
High Quote Levels: http://twitpic.com/9mggcb
The Facebook Clusterfuck from my chair: http://www.calibratedconfidence.com/2012/05/hft-banks-on-medias-hype-of-facebook-in.html
PieInTheFaceBook post-IPO recrimination party:
http://www.youtube.com/watch?v=a4-spBDcJyk
Great demonstation of the tractor.
http://www.bloomberg.com/news/2012-05-18/mf-global-trustee-seeks-to-get-...
FUCK JPM
The name of the game here was money in the bank and it sure looks like mission accomplished to me.
Maybe Warren Buffet was accumulating another great value stock....
Morgan Stanley, the underwriter, can eat shit (which they now have to) and die!
there was 100 billion $ generated out of nothing.... and we keep blaming banks for money out of thin air.
The Market Frowns on Facebook
http://www.elliottwavetechnology.com/2012/05/market-frowns-on-facebook.html
So, it started at 38 and ended up at 38.04.
What in the hell are they going to do with that 4 cents per share?
PARTY TIME, excellent!
Oh well, Zuck still gets stuck with a huge tax bill. Maybe if we are lucky, Bono will retire off his easy billion... that's the only upside I am seeing, other than a few more people joining the "One Percent".
Come on. I have used Facebook to link great websites and alternative articles, like Zhedge. The Internet has educated and changed many peoples minds about many issues. MSM is all but dead to the new generation. I was chastised to talk politics on FB amongst some of Berkeley/Columbia buddies in the beginning. Even they now have stopped propping up Krugman and the status quo. Ron Paul is where he is from many people "abusing" social media to tell the truth. That said, yea, it can be pretty retarded, but there you go. It could ultimately be a major reason we get our Liberty back one day.
Did your parents have any kids that lived?!?
Facebook is slowly becomeing the new MySpace
It already is, but just doesn't know it, yet.
This IPO did exactly what it was intended to do. The facebook IPO created a backdoor bailout of Jerry Brown's California budget mess via the wealth created and new incoming capital gains taxes.
This is a pretty common question about MossadBook, I mean MuppetBook, I mean CIA World FactBook and I have never heard a good answer to it...
"Facebook is valued at over 100 billion dollars. Have you ever bought anything from Facebook or even clicked on an ad? I haven't and I bet you haven't either.
900 million people doing nothing is still nothing, right?"
Good thing 25 percent of California's revenue this year is coming from Facebook! All those pensions, 401Ks and retirement plans are going to take a BEATING.
Whats that I hear? I hear a great disturbance in Farce, as if million of muppets and retirement plans screamed out in terror and were suddenly silenced.
The I.R.S. has a better database than these fucking guys!!!! I.R.S. Sell your data it and close the deficit,,,muhahahahahahah
A look at the NASDAQ100 would have sent a strong indication that FB would not have done well today.
http://bullandbearmash.com/chart/nasdaq100-daily-18-2012/
Is Facebook to 2012 what Blackstone Group was to 2007?
Cramer is saying anything that pops into his head to keep retail sheep from running from the stock market. "Sometimes brokers misprice the stock so the retail investor can profit from the IPO."
An article from yesterday that apparently not many people read based upon the very few comments it received. I missed it, too:
http://www.marketwatch.com/story/facebook-insider-sales-are-huge-red-fla...
Facebook insider sales are huge red flags
SAN FRANCISCO (MarketWatch) — If you had inside knowledge of a hot investment that you expected to be worth more in six months or even three months, why would you sell your stake this week?
That’s a question retail investors should be asking themselves now that the level of stock-dumping among Facebook Inc. insiders has reached a level that can only be described as “Grouponesque.”
Now you can lose all your money at the same place you lost all your time.
Only in Amerika.
Ho hum. even Cramer's getting bearish on the market. Must be time for a little re-trace.
Cramer's bearish?! Thanks for watching for us. Time to BUY BUY BUY???????!!!!!!!!!
His bankers tried to tell him he waited too long to bring this thing out. Nothing like a little hubris to shoot yourself in the foot with. Couldn't have happened to a nicer guy 'cept maybe Jaime.
Facebook's IPO is an IPU http://www.youtube.com/watch?v=h7i-8nrJ5KAHo hum. even Cramer's getting bearish on the market. Must be time for a little re-trace.
Ho hum. even Cramer's getting bearish on the market. Must be time for a little re-trace.
...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.
60mm @ 38...but still...that's like the whole green shoe...
Fadebook? Priceless!
Biggest IPO in history for an application that anyone can replicate with some capital. No wonder the trading was all over the place today.
http://confoundedinterest.wordpress.com/2012/05/18/german-brokerage-quoted-latest-facebook-orders-at-70-per-share-closes-at-just-above-38-missed-it-by-that-much/
FIATbook
Hieroglyphs for the future!
"like" button = future symbol for God
Status
Went to
Works At
Married to
Books: Richard Petty, Ted Nugent, Clifford The Big Red Dog, Leg Show
Movies: Richard Petty, Ted Nugent (LIVE!), Clifford The Big Red Dog, Leg Show (after hours)
Music: Star Spangled Banner (as performed by the IPO choir)
Facebook wikipedia, google, my space, ebay and many others, All Jewish owned and all of them either financed, conceived or infiltrated by US and or Israeli intelligence.
Yep! The Face Book insider members of the Satanic Tribe are taking the money and running. Does anyone wonder why they are the most hated group in the history of the planet?!?
Will it not go where the HFTs want it to go when they want it to go?
Papa Was a Rolling Stone ...
"It was like they gave a party and nobody came," Gaskins said.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/05/18/BUJ91OK7IG.DTL#ixzz1vNtTjmr2
I had to laugh at that comment!
face book owns itunes
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