Facebook Comes Back Down To Earth

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

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shares are trading lower by $2.14 at $85.84 in Monday's session. After holding up well in Friday's volatile session, the issue is succumbing to the broad markets steep decline today. The issue is two days removed from the fresh all time high it made in Thursday's session at $89.40. On Friday, it posted its all time closing high at $88.01. After a lower open ($86.61 vs. Friday's close of $88.01) it rallied back to $87.50 before reversing course. So far the decline has taken the issue to $85.74. That marks the lowest level for this issue since it bottomed on June 23 at $84.76 as it was building momentum for its explosive rally.