NEW YORK (TheStreet) -- When it comes to my investments and due diligence - much of which I am privileged to share with you in my writing -- nobody is harder on me than I am on myself. Allow me to just get that out of the way.However, I do understand that being the public figure that I have become certainly draws its share of criticism. Sometimes I take it with a grain of salt and other times . . . well, let's just say being wrong and being reminded by readers that you were wrong has a way of humbling a person. It introduces doubt about one's own ability to do that which he thinks he is good at -- I hope that made sense.
Although at this point I would consider re-entering the stock at any price under $31, I think $28 is its next target. What is working against me in this projection is the fact that the stock does not present sufficient trading history to play on investor psychology -- even from a technical standpoint. However, other stocks that have had similar IPOs offer a similar pattern and thus have become my gauge. These include Groupon ( GRPN), LinkedIn ( LNKD) and Pandora ( P). What I have found were pretty consistent patterns that suggested that while Facebook will be fine in the long term, from now until the rest of the year, it is going to experience some wild swings. Furthermore, the fact that the so-called "quiet period" from its IPO is over, there will likely be more selling from those that were "lucky" enough to have gotten it on it. I think these investors may say "enough is enough" and punish the stock further for its disappointment -- one that is still down 18% from its IPO price.