CNBC's Joe Terranova: Only Ones Disappointed in Jobs Number are Those on the Sidelines

In this week's chat with Joe Terranova, contributor to CNBC's Fast Money, chief market strategist at Virtus Investment Partners and author of the new best-seller Buy High, Sell Higher, we get insight on the Facebook IPO, Iran and the fall in oil prices, and the market response to unemployment numbers released today. Listen to the audio for his take on the unemployment figure and Mark Zuckerberg the executive. On the Facebook IPO:

Joe Terranova: I think this will be priced so that there is appreciation from the offering, but I think this is different. You had multiple social media IPOs in 2011 -- Zynga, LinkedIn, and Groupon -- and what is going to happen is you are going to have the lockups on those IPOs come free in the spring, at the same time as Facebook is listing as a publicly-traded company. For a money manager, that's a relatively easy question. The lockups come up, you're going to sell some of those holdings, and you're obviously going to put them into Facebook. Where it comes out on a pricing basis -- again, on the secondary market it got up to $135B. Does it go north of $100B? I think it does -- I think it goes up to probably $125B.

On how Iran risk factors into oil forecasts:

Joe Terranova: I think Iran is the ultimate wild card. There are too many people out there who will claim to know something about everything. None of us know what's going to happen with the situation with Iran. Back in Gulf War I, the fear was that oil was going to go to $100. That didn't happen. Oil went the other way after the initial strike was made. So, I'm very cautious about that. Could there be a super spike in oil at some point? Absolutely. That's always a possibility, but that's generally more related to something happening in Saudi Arabia. That would be one of my biggest concerns, something happening domestically in Saudi Arabia, but any type of military action that could occur surrounding the Iranians -- I don't think there is anyone out there who absolutely knows where the price of oil is going.