Facebook Inc (FB)

neg -0.91
Today's Range: 86.70 - 87.79 | FB Avg Daily Volume: 32,184,800
Last Update: 09/04/15 - 10:59 AM EDT
Volume: 9,820,904
YTD Performance: 12.98%
Open: $87.20
Previous Close: $88.15
52 Week Range: $70.32 - $99.24
Oustanding Shares: 2,817,545,492
Market Cap: 203,127,716,592
6-Month Chart
TheStreet Ratings Grade for FB
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
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Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 23 23 22 22
Moderate Buy 4 4 3 3
Hold 2 2 2 3
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 1.28 1.28 1.26 1.32
Latest Dividend: 0.00
Latest Dividend Yield: 0.00%
Dividend Ex-Date: 12/31/69
Price Earnings Ratio: 91.72
Price Earnings Comparisons:
FB Sector Avg. S&P 500
91.72 91.80 24.50
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
6.93% 16.25% 388.15%
Revenue 58.40 2.36 0.49
Net Income 96.00 1.94 0.43
EPS 85.40 1.29 0.31
Earnings for FB:
Revenue 12.47B
Average Earnings Estimates
Qtr (09/15) Qtr (12/15) FY (12/15) FY (12/16)
Average Estimate $0.35 $0.46 $1.40 $2.00
Number of Analysts 10 10 10 10
High Estimate $0.38 $0.51 $1.47 $2.28
Low Estimate $0.31 $0.41 $1.26 $1.70
Prior Year $0.32 $0.32 $1.34 $1.40
Growth Rate (Year over Year) 9.38% 43.44% 4.25% 42.95%
Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands
I added to my long book on morning weakness from the highs. Although I'll end the day longer
The market doesn't know how to stop, so it doesn't.
Pick stocks the way you would pick players.
The U.S. stock market closed near its low on Monday. Spyders were $2.30 lower while QQQs dropped by $1.65. I am short both, as my primary vehicles to be short of the market. August performance gaming is clearly over, though it showed not an appearance on Monday. As I write this at 10 p.m. ET Monday, S&P futures are another 28 handles lower and Nazzies are 60 from the close. Friday's late afternoon "Trades of the Week" (for this week) fared well on Monday. The SPDR S&P 500 ETF (SPY) Sept. 18 $199 weekly calls (on which I am short) -- put on at $4.17 -- dropped to $3.08 and the PowerShares QQQ Trust (QQQ) Sept. 18 $106 puts (on which I am long)  increased by about 65 cents on the day. These trades should do even better today I played last week's rally well. I went net long last Tuesday and sold some positions on the gap on Wednesday and Thursday. I then began to expand my short book toward the end of last week. I got more aggressive as prices rose and as SPY moved over $199. I remain net short and, as mentioned previously, have shorted SPY calls, Spyders and purchased QQQ puts. Again for emphasis, an important top was likely established in the first half of 2015. Last week might have been the Second Chapter in a "saw tooth" move lower for the major indices. (The First Chapter was the breakdown of two weeks ago). Last week was also a harbinger of future chapters and more evidence of breakdowns in the market mechanism. The talking heads who have consistently sanctioned buying the dips will likely be silenced in the month ahead. Many of those talking heads are commentators and, too often, manage virtual portfolios -- and many have missed previous market inflection points. Some others are flip-flopping on a near daily basis, providing little value-added. I am trying to be consistent with my thread, within the confines of the renewed volatility. It's really tough at times. The market mechanism is broken. Badly. More evidence may lie ahead. There has been massive technical damage in the market. Last Monday's down gap messed up so many charts and there was much collateral damage. I am not sure how this plays into the interpretation of a great many charts. Last week retail investors withdrew $17 billion from domestic equity funds. I remain of the view that "Death of the Retail Investor" may be at hand. I have been warning about the loss of liquidity for over a month. Jim "El Capitan" Cramer captured the zeitgeist in an afternoon column on Monday. With retail investors getting religion the demand/supply equation for equities has deteriorated. I will remind everyone that there will be damage, maybe serious damage, from the recent volatility in currencies, equities, bonds and commodities: "As I have warned, this past week's market schmeissing was preceded by unusual volatility in numerous asset classes -- stocks, bond, currencies, commodities and so forth -- in the previous few months. Today's shellacking in the first 30 minutes was like a DEPTH CHARGE -- you simply don't get these moves in the aforementioned asset classes without some dead, levered funds floating up. The damage is not likely over after one day. While the computers and machines panicked this morning, it still is not clear whether the humans will panic next!" Once again (!!) it appears corporations have bought high (at the highs) in their record level of share buybacks. History rhymes. Bonds started the day strong -- up $1 on iShares 20+ Year Treasury Bond (TLT) -- but ended weak (down $1 on TLT). I continue to expect the yield on the 10-year to range between 2.1% and 2.4% over the balance of the year. This would be nonthreatening to my closed-end muni bond holding, which should be an oasis of stability in an uncertain investment world). The yield curve continues to flatten (the yield on the two-year U.S. note hit an eight-month high on Monday), placing pressure on the recovery in bank industry net interest margins. I wouldn't chase bank stocks here, but I would be a buyer on weakness. Compliance and legal expenses are moderating and operating costs are well under control. High-yield and municipal bond markets were unchanged. But Blackstone/GSO Strategic Credit (BGB) was weaker by 1% and I am getting the impression that this ETF is in weak hands. I have been adding. FANG -- a terrific term coined by Jim Cramer for Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) -- began to sink late in the day. A reminder: I re-shorted Facebook late last week and put back on my paired trade with long Twitter. The latter was recommended by the eagle-eyed analyst at SunTrust and the stock closed up 80 cents after being up more than $1.40 a share.   While the price of oil advanced smartly on Monday, energy-related equities didn't quite follow suit. Either this is an opportunity to buy or oil will retreat back in price. I favor the later. Autos traded well on Monday. Let's watch these in the days ahead for a possible trading opportunity. Ford (F) and General Motors (GM) remain on my Best Ideas List and peak autos seem discounted in the prices. Yesterday I posted weak Gfk data for Apple's iPhone that I received late Thursday afternoon. I don't have a dog in this hunt, but I am leaning to re-shorting Apple (AAPL). It took me a while to evaluate whether the analytical source was a good one (it apparently is!), and given that I was out most of Friday I passed on some observations in the Columnist Conversations on Monday. In marked contrast, Citi's analyst upgraded the shares, seemingly in contradiction to the GFK data. Based on rising volume in the common and in call activity, I continue to accumulate shares of Hartford Financial Services Group (HIG). Check out how Wal-Mart (WMT) combats a hike in the minimum wage. Data for Tuesday: Markit US Manufacturing PMI 52.9E; Construction Spending 0.6%E IBD/TIPP Economic Optimism 47.1E; ISM Manufacturing 52.5E, Prices Paid 39E; Wards Domestic Vehicle Sales 13.7mE, Total Vehicle Sales 17.3mE; Boston Fed President Rosengren speaks at 13:10 ET. A special thanks to Chris "Not the Designer" Versace for a terrific job Monday. Frankly, he did a better job than I would have done yesterday. I love LA, but it's time to get back to business. I feel a quake coming, but not on the West Coast; rather, on Wall
But bears finally have some momentum heading into a seasonally poor month.
Which means interest rate hikes are being built into prices.

That Was the Week That Was Real Money Pro($)

Let's review.
But saying so loudly carries huge risk.
My most important take is that the normal correlations between asset classes -- stocks, bonds, commodities and currencies -- is not holding today; this should concern Bulls in the next day or so , if it continues. Most importantly, bonds closed near their highs -- and that is not a RISK ON message. I took the road less traveled buying on Tuesday afternoon and I took the road less traveled shorting on strength today. I am struck by so many low-quality stocks -- which have been schmeissed -- are rallying in rather large percentage terms today. Again, not the best of Bullish signposts. It seems, in watching the business news channels that EVERYONE caught the bottom ... and are again complacent. Ignored in that observation is the monumental technical damage of August 2015 and the fact that the global economy is wobbly and valuations are rich. Ignored is that the market mechanism is broken and Monday is not the last of it in all likelihood. As I have written, Tuesday was a near-perfect capitulation bottom after two -90% days. History shows we get a couple of contra trend rallies that are fierce in delta, but this is typically followed by a period of testing. I added aggressively to my Facebook (FB) short (over $89 today) and materially increased my short exposure through SPDR S&P 500 ETF (SPY) shorts all day on strength. As I posted in Columnist Conversation, were it not for a trip to the West Coast I would have been even more aggressive on the short side today.  (Medium-size short SPYs now). Banks are the world's fair. I like my early week pickups in this sector. A lot of technical analysts who were predicting another 10% drop on Tuesday are now looking for a rally towards the old highs. This provides little value-added to anyone as the rear window always has 20/20 vision. The close will be a function of the

Columnist Conversations

1. It was a good move tactically to cover yesterday's SPY short. 2. It will prove to be a bad move tactically ...
But small. Rationale coming up in Diary.
The August labor data did little to help U.S. equity futures, which are now down about 1%, following the lead ...


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