My online and broadcast schedules have gotten short shrift for the past few weeks, mainly due to an intense travel schedule combined with the need to put in some extra hours on the final revisions for my upcoming book on Mercury and the Markets.
My travels took me to New Orleans for a week, where I was presenting some advanced astro-trading techniques at a global gathering of astrologers and traders. While I was there, I had a wonderful chat with one of our active Gold-Plus Elite members at FinancialCyclesWeekly.com. He works for one of the major Wall Street wire houses, where he advises international clients on positioning their portfolios for maximum profits in these turbulent times.
“I really appreciated the warning you put out about avoiding the Facebook IPO,” he told me. “My clients had been calling me up, wanting to know if there was any way that I could get them some shares of Facebook. I told them I thought they should stay away from it.
“But a couple of my clients absolutely insisted on buying Facebook. Fortunately, though, I was able to sell out their positions during the first hour of trading on the IPO day, so they managed to get a little profit before out before the stock crashed.”
When I looked at Facebook (FB) before the IPO it was clear that bad timing– putting the shares up for sale just before the May solar eclipse– would have an adverse effect on the stock’s potential. But I also mentioned a Sun/Admetos conjunction as one of my other concerns, and that’s what turned how to have a longer-lasting impact.
As is so often the case, the astrology proves to be exactly right. In fact, that interaction of the Sun and the transneptunian Admetos is what continues to drive the price action for this stock.
As this trading chart illustrates, Facebook opened its first day of trading almost exactly at a price point corresponding with the Sun/Admetos conjunction, and after a brief upward surge, started heading south from there.
During the next two trading sessions the stock moved lower, in each case starting its trading below a lower eighth-harmonic Admetos price line. More recently, FB has found some support on a fourth-harmonic Sun line, but an eighth-harmonic Admetos line is still defining a resistance zone.
What will happen during the coming weeks remains to be seen, of course, but this Sun/Admetos interaction points to a potentially critical date for this stock: July 3, when the Sun and Admetos will align in a 45-degree semi-square.
July 3 will be a shortened trading day because of the U.S. Independence Day holiday on July 4, when the markets will be closed altogether. Although this suggests that we will see reduced trading volume on July 3, it also points to an important trading period for Facebook.
Although the buyers who are still hanging on after the disastrous IPO would certainly love to see a trend reversal to the upside then, it seems just as likely that FB may be subjected to even stronger selling pressure.