Friday, May 18, 2012

Facebook IPO= D.O.A.

Facebook's much anticipated over-hyped and overvalued IPO did not go as planned. Opened at $38. Closed at $38.23.  Currently valuation= 88 P/E. LOL

The market sell-off continued with the Dow falling 73 to close at 12,369.

Rough week!  Market was five days in the red for a total loss of 4.3%.

Is the market oversold?

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