I’m canceling the hell-of-bearish target at 13.97 and the death sentence I disseminated in August, since Facebook has come up with the first great money-making idea I’ve heard from them since the abortive IPO in May. In brief, the plan will leverage the birthday, anniversary and special occasion wishes that Facebookers send each other by enabling them to add flowers, chocolates or other gifts with the click of a mouse. This could be a huge winner, since it will allow advertising tie-ins between Facebook and a broad variety of retailers and possibly even a percentage deal for them. Gift givers will love it too, since it will make them look like they actually care enough to go one thoughtful step beyond the automated, and therefore perfunctory, special-occasion greetings that have become annoyingly familiar to so many of us.

Why the Street Is Wrong

Please note that my bullishness is unrelated to the $153 million in revenues the firm booked for mobile advertising in the last quarter.  Wall Street went ga-ga over it because this category didn’t even exist for Facebook as recently as last spring.  My gut feeling, however, is that too many advertisers will be competing for eyeballs on ‘billboards’ with extremely limited space, and that users of smart phones and pads will resent the intrusion, the moreso if it becomes too aggressive.

In the meantime, we’ll wait for the right buying opportunity in the stock, since attempting it now, following yesterday’s 25% move, does not interest me. Stay tuned — and be sure you’re signed up for email notifications if you wanted to be notified in real time of any possible intraday opportunities. For your information, yesterday’s move was not bullishly impulsive on the daily chart, since it exceeded no external peaks.  It did, however, bring the stock up to a 50% retracement of the enormous fall from $45 on its IPO day to a low of $17.55 .  Click here to give Rick’s Picks a free try.