Twitter update

In my last post on TWTR I wrote: "I hate to throw out price targets like this but if pressed I would call it $26 for 5 of C. The subsequent short covering rally should bounce back to perhaps $45."  While not perfect, I did have the direction correct as you can see from the current chart below.  Instead of bottoming at 26, the ending diagonal bottomed at 28.75.   It then broke out both rails and is not approaching the 23.6 fib.  This is weak, weak, weak.  I was expecting a 38.2 fib dead cat bounce but this one has rigor setting in already so it's not bouncing very well. 

The A and B waves are long over and C might be done as well.  Twitter is now too pooped to tweet.  I will be zero surprised if this useless left wing social media company ends up in receivership within 18 months.  The coming return to conservatism will have people stop living their lives out on their twitter and FB sleeves.  The social media craze is headed for a massive contraction not because those working there want it to but because these companies would never have gotten funded without wild amounts of debt creation and when that debt collapses so will all their future funding.  Besides, conservative people simply do not tweet and so it will just go out of style as if it were a pet rock or some other useless mania of the past.