Linkedin - Or how you got screwed

I'm a Linkedin member. I won't pay for it and I don't read the ads nor do I do anything much more there than keep up with associates of my choice. I've had to take my profile private to associates only because a loony person who I once knew has turned stalker and I'm too old for this nonsense as the saying goes.

Yesterday, Linkedin went "public" which means that if you have great connections on Wall Street you might be able to pick up a few shares but mostly you will be allowed to buy into this stock when some of the big guys who get to buy it at the opening, they figure that making 20-30% in a few hours without actually having to put down real cash is enough work for the day.

The Linkedin daily chart is displayed above.  I've taken the time to mark with red arrows when the traders took over and played the stock like a harp to really make their money - remember that traders can leverage their "bets" 20:1 so their profits are not merely buy-sell but 20 x's that or more. 

Just some good morning Friday news for those of you who didn't get into this nonsense until noon.