Facebook (FB) has rallied substantially over the last few months. The stock reached a low of 17.55, but now the stock is trading in the upper 20s. If the Q4 earnings report shows that Facebook is beginning to monetize its mobile user base, then the rally will continue. Facebook should continue report to sucess with its mobile monetization based on thier Q3 earnings report. The switch from PCs to mobile devices was the cause of Facebook’s weakness the first time they reported earnings. I am not investing in Facebook despite the possibility of a continued rally. The valuation is still sky high. Facebook has a P/E ratio of 153.68.