Thursday’s Initial Public Offering of social media firm LinkedIn, Corp. (LNKD) provided the financial media and investors with a lot of hype and excitement in what has been an otherwise choppy and non-descript general market environment.
As we watched LNKD’s share price convulse on Thursday as the opposing forces of greed and fear pushed the stock back and forth, as we can see on the 15-minute interval intra-day candlestick chart of LNKD, below, it became clear that trying to buy the stock within a day or two of its over-hyped IPO amounted to little more than throwing darts at a rapidly moving target.
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