blue line = DJIA green line = Facebook
The stock market is currently experiencing a rally based on the “certainty” of quantitative easing III by the Federal Reserve. While the majority of companies are rebounding today, Facebook continues its death spiral as shown above. But then again Penson Worldwide Inc (PNSN) is up 40% today and this company has no future as its stock price is shown below for the past five years:
What does it say about human nature when people buy a stock which has a PE over 60 and could be shut off tomorrow by the government? But then again, a rally based on government’s depreciation of our currency by quantitative easing says it all.
David DeGerolamo
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