I was looking hard at FB at $29 but did nothing. I DO believe the research and I think they will need to adjust their business model and find other streams of revenue in the future. Americans are very privacy conscious and Zuckerburg is way too cozy with D.C. for me. I think he's capable of selling out his members if it benefits his own personal ambitions.
Personally, I think Twitter could have more permanence than Facebook in the long run. But, again, it's business model is also unproven.
But I can't complain about missing out of FB because my two single remaining stocks did outstanding. I'm getting gun-shy with individual stocks so I have been in the 'buy and hold' camp for a while. Watching Amazon cross the $400 barrier after I sold it at $13 in 2002 will do that to you.
Short-term, I do have a little cash that I will probably invest after there is a bigger correction. Long-term, I hate the Fed's interference in the Market and changing the rules as they go along. I think the Market is artifically high and several underlying systemic problems have still not been addressed. I wouldn't be surprised if there were a major pull-back after November 2014 for domestic reasons or possibly sooner for international reasons.
Approval and construction of the Keystone XL Pipeline could change everything, however. Wow, imagine real jobs again and a country heading toward energy independence!