Facebook has just paid a whopping $18 billion for an instant-messaging application that evidently has caught on with the kids. The company, WhatsApp, has 55 employees, and its two founders are now billionaires. It would hardly surprise if their clerk-typist and janitor have become multimillionaires.  No one knows what kind of revenues the company has been generating because that’s a secret. But they do not use an advertising model, and subscriptions are free for the first year, rising to $1 a year thereafter. Zuckerberg paid about $40 per for each of WhatsApp’s 450 million users — supposedly the going rate. Frankly, we view these valuations as absurd.  However, such concerns didn’t stop Wall Street’s OPM stewards from goosing FB sharply higher yesterday, pushing the stock well past a 67.43 Hidden Pivot target that we might have expected to contain FB for more than a few days.  Keep the number 75.82 in mind, because Hidden Pivot analysis says that’s where this gas-bag will bump up against something solid. We’ll be looking to short aggressively up there, so stay tuned to the chat room and to the tout updates if you’re interested. _______ UPDATE (February 28, 2:50 a.m. EST): Yesterday’s detour south could take the stock down to 67.66 if the intraday low, 68.85, gets taken out.  The target can be bottom-fished with a limit bid and a stop-loss as tight as 5 cents. ______ UPDATE: Friday’s 67.38 low overshot my target by 28 cents, stopping out any bidders who played it by-the-book.  The overshoot of the target suggests that still-lower prices may impend. _______ UPDATE (March 10, 11:33 p.m.): Once past a midpoint resistance at 72.20, expect this stock to cruise to at least 74.93 (daily chart, A=66.51 on 3/3), the next Hidden Pivot resistance of significance. ______ UPDATE (March 17, 1:50 a.m. EDT): The stock poked above 72.20 by 39 cents — not quite enough to ensure a follow-through to the 74.93 target. Now, if the selloff hits 66.50, that burden of proof would be on bulls for a rare change. _______ UPDATE (March 20): The selloff halted at 66.62, sparing bulls, at least for the moment. FB’s hourly chart subsequently went bullishly impulsive:  A= 66.62, B= 69.60, and C=66.90.