Buying and selling facebook shares

Had a great couple of days off and I enjoyed my cousin's wedding immensely. It's nice to get away from trading and betting now and again and re-charge the batteries. Having said that, I'm spending time reading the news today and catching up with what I missed.

Facebook shares have been particularly interesting this week with some staff selling their shares now that the time period that prohibits them selling their shares has come to an end:

Facebook shares this week:

Weeks ago, I suggested that Facebook was a sell and the shares are now down around $19, roughly half of what they were once worth. Unfortunately, I didn't really give it a lash with serious money - not quite sure why but hey ho.

 I've no open trades on Facebook at the moment and I'm kinda unsure as to where they will go next. On the one hand, the trend is definitely down and there's no real reason to suggest a reversal - although some recent selling by staff (and other traders trying to catch that wave) has blurred the picture somewhat so I think they are best left alone for a week or two at least.

The fundamentals haven't really changed and in my opinion they were not too strong in the first place; where Facebook will continue to make money from other than ads remains to be seen.

Having said all that, it's a site that has become a big part of a lot of people's lives and that's gotta be worth something I guess. Anyway, we'll continue to watch this with interest.

Elsewhere, I've been working on some strategies which I read in

Big Money, Little Effort by Mark Shipman

Basically, the book talks about moving average systems and so far I've had some success - even though I've only been testing with pennies.  I may post more on these strategies in the future but for now, I want to do some more testing. 

***

On the racing front, I've three bets for Saturday. Here's what Timeform have to say about each:

4.40 Chester - Bountiful Girl
Second career win when cashing in off sliding mark at Carlisle (9f) in July. Good second at Beverley (1¼m) in mid-week, and major player on these terms if this doesn't come too quickly.

1.40 Newmarket - Strictly Silca
Has some fair form to her name, including second to Toronado in 7f Ascot listed event last month. Does to bounce back from a slightly disappointing effort in maiden company last time, though.

1.45 Ripon - Bachotheque
Been unlucky not to win a maiden so far, finding frame on first 3 outings. Possibly found race coming too soon at York last time and worth another chance to get off mark in this company.

Enjoy the weekend and best of luck with your trading and betting.

Wayne

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