The market needed a good week and it got it. We identified the gap that needed to be filled a while ago, and thankfully, the Dow cooperated with a strong surge the past few days.
With that done, I’d now expect to see the market back to old highs. We’ll see what happens after that.
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This past week, Twitter announced plans to IPO, so I thought it was a good time to look at past social media offerings, Facebook (NASDAQ:FB) and LinkedIn (NASDAQ:LNKD).
FB I’ve shown a number of times, avoiding it early on, but recommending a “buy” at lower levels.
I’ve never been a big fan of LNKD, probably because I didn’t use it much myself. Shame on me as the stock has been strong and I’m using it a lot more. I’d wait, though, before buying.
Back next week to see if the rally has any staying power!