FB didn’t do much on opening day….much less save the markets! While the morning was positive in anticipation of Facebook’s IPO, the Nasdaq kept delaying the first trade, making traders skittish. That just started the waterfall. Another IPO where the hype was over-hyped. C’mon, 100 times PE? Really now!
With the combination of Facebook and OpEx, volume was the highest it’s been in a while, but still not breaking 3 million contracts in the ES. NQ and YM, along with ES, are approaching their 200-day moving averages…from above, while the TF actually did close below its 200DMA. Not looking so good.
I can’t remember the last time we had 5 consecutive down days in an Options Expiration week, can you?
Related articles
- Nasdaq Delayed Facebook IPO for 30 Minutes (mashable.com)
- The Facebook IPO: What it looked like inside the company’s headquarters (venturebeat.com)
- IPO? What IPO? Here’s a Liveblog of Everything You Need to Know About Facebook Today (pandodaily.com)
- Facebook IPO Day: The Scene At NASDAQ’s NYC Times Square HQ [TCTV] (techcrunch.com)









Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....


