Monday, May 14, 2012

Is Facebook our Avenger?

I know we're all watching the Facebook ($FB) IPO this week. Yes, the banks are crashing all around us, Greece may leave the Euro, France is socialist, California is a fiscal high-speed train wreck, and etc. On and on it goes.

But we're all bored with that. It all may mean the market in general can't go higher. After all, financial stocks are 20% or so of the SP500. As go the financials, so goes the SPY, right?

So we need a Super Hero. We need a Wall Street version of the Avengers.

And here comes Facebook. Now FB may raise their IPO range...


Facebook expected to raise IPO range to $34-$38 a share
CNN MONEY | MAY 14, 2012
Facebook is expected to raise the price on its initial public offering to $34 to $38 a share, a move that could lift the company's valuation to $81... Read more

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