The chart looked good, so was the action in after-hours. Therefore we bought last night. Just like we would have bought if it were the chart of another high growth company stock, or the chart of gold, or silver.
We bought Nasdaq and S&P 500 ETF's as well as a rebound looked in the cards. It's amazing how this website, Facebook, has become a bellwether, an indicator for the broader market. As a chartist, I still connected to the conference call for the first half hour as last earnings release saw a big reversal on an analyst asking about teen usage (see here : http://buy-point.blogspot.ch/2013/10/momentum-stocks-hit-brick-wall.html. No such thing this time around (was the question sidestepped ?), earnings were up 8 fold year-over-year, and mobile revenues about as big as last year's entire revenues. Apparently, the chat between analysts and commentators was about how Facebook could monetize your personal information, with for example an ad network (which probably would be tracking people's browsing habits and serving personalized ads similar to what Amazon and other companies are doing after you visit their site). That's right Facebook knows everything about you now and is intent on making money with that information.