Assuming the stock makes it down to the 193.52 target shown, that would represent a 25% correction — a bonafide bear market. Even if the nastiness is justified by LinkedIn’s spongy business model, we should nevertheless expect the stock to catapult higher from the Hidden Pivot support instead of continuing to discount the facts as we know them. The game, after all, is not about pricing shares according to the realities of business, but about creating extreme price swings so that DaBoyz can more easily accumulate or distribute stock. Accordingly, I’ve set a screen alert just above the projected low, the better to lay in an inventory of call spreads in advance of whatever sham story will catalyze the next absurd rally. Stay tuned. _______ UPDATE (1:59 p.m. EST): The stock is getting crushed again, down more than $10 to a so-far low at 192.25 that exceeded my target by 1.27. Camouflageurs can try to bottom-fish a turn here, but be aware that LNKD will be signaling more downside to a least 179.48 if support fails. _______ UPDATE (February 24, 1:57 a.m.): The hourly chart is bullish, but the stock would need to rally to 235 to negate the 179.48 target. _______ UPDATE (March 17, 2:05 a.m. EDT): The stock has gone to hell since we last looked in on it. If you care, I’d suggest using the 168.05 target as a minimum downside objective for the intermediate term. Traders please note: That would not negate a speculative buying opportunity near the 192.77 midpoint pivot. ________ UPDATE (March 20): LNKD bottomed at 190.78, picking up support somewhat above a key low recorded in mi-February. The action suggests that the 168 target is unlikely to be reached any time soon. _______ UPDATE (March 26, 1:09 a.m. EDT): Sellers have gotten second wind and are now threatening to beat this glue horse yet again. A somewhat fuzzy Hidden Pivot at 175.87 can be used as a target, although I wouldn’t recommend bottom-fishing there unless via camouflage. _______ UPDATE (March 27, 8:45 p.m.): An $8 swoon at the opening turned higher from 178.25 — not close enough to the target given above to get us aboard. It is nominally bullish that LinkedIn couldn’t quite reach a downside correction target, but it would now take a push exceeding 197.98 to suggest that bulls have seized the advantage.
