I feel like Facebook is a stock I’ve traded for years now, but it hasn’t yet reached it’s 1st birthday as a public company. It’s been a volatile 10 months, though. A headline-filled start, followed by a dramatic 50%+ drop in just a couple months, then total disgust, then a renaissance, followed by renewed euphoria, only to be followed by renewed disappointment. That’s why it’s felt like I’ve traded it for years.
Price action always matters more than volume, but volume can often give clues to how the chairs are shifting on deck. Facebook is a perfect example of this. Here is the lifetime chart with my annotations on the volume panel below: