Long Facebook @26.91

Last night I went long on Facebook at 26.91 as usual via my spread betting account. My reasoning is that reading a couple of articles Facebook is one of those shares that is heavily shorted. Any hint of an upward movement in the NASDAQ causes short squeeze. Morgan Stanley are currently lending out Facebook shares to short sellers and business is so good they are charging a premium over their usual services! When everybody wants one thing the market normally responds by doing the opposite and those shorts have got to buy themselves out of their positions.
But that night the general index route was down and spotting that things were going to turn a bit sour I got out for a small loss. I had a feeling that dropping through that trend at that time of day it wasn't going to come back.
Sold at 26.56 and the stock closed at 26.13. I don't like holding overnight at the moment.

P/L -35