Given Facebooks especially poor price action, even under those conditions, it would be wise to wait for Facebooks next earnings report along with the three month lockup period expiration. For the intermediate term speculators who already purchased the stock, do not change your time frame to that of a long term investor. If you are not familiar with IPO bases, review the early stage base formation (not the latest correcting action) in recent IPOs KORS, GNC, INVN, TNGO, and SYNC.