UPDATE: OK, this is boring. Last update for now unless there's drama. FB IPO story summary as I see it: 1) "yawn," 2) what was the delay in opening?, and 3) traders reporting problems canceling and changing orders before the open. UPDATE: and now reporting problems getting order confirmations after the open. Black eye for NASDAQ.

(OK, an update to the last update. There are reports that underwriters stepped in at $38 to keep it above the IPO price. Sounds like this feverishly hyped highly anticipated IPO is a bust. On the plus side, any "normal" people who wanted in got a chance to buy it at the $38 insider price.)

UPDATE: 12:13 a few buyers back, $40.21, volume breaks 250 million
UPDATE: 12:08 brief break above $40, now $39.86, volume still fading...
UPDATE: 12:05 new resistance at $39.90...
UPDATE: 12:03 breakout to $39.72, volume 227 million and fading...
UPDATE: 11:59 resistance at $38.75...
UPDATE: 11:55 buyers back in at $38, now at $38.20
UPDATE: 11:54 volume breaks 200 million...
UPDATE: $38.01 at 11:50...
UPDATE: Spoke too soon. Selling begins, $39 at 11:47...
UPDATE: Not much drama, I'm out.
UPDATE: Volume 147 million at 11:45 and going...
UPDATE: Appears to have found bottom at $40
UPDATE: FB $40 at 11:40...
UPDATE: Zynga shares down 13%, trading halted
UPDATE: 11:36 price: $40.102, bid: 40.11, ask: 40.12, volume: 108,976,836
UPDATE: NASDAQ website crashed
UPDATE: 11:32 bid: $41.50, ask: 41.55, high: $45, low: $40.44
UPDATE: Facebook opens at $42.05 (real time NASDAQ quote)
UPDATE: 11:28 still no trade, some kind of delay...
UPDATE: Trading delayed 5 minutes, until 11:05...
UPDATE: Barron's reports quotes of $45 before the open...

Message from Fidelity: "Facebook (symbol FB) has priced at $38 per share and is expected to begin trading in the secondary market on Friday, May 18, 2012. Limit orders will be accepted at approximately 7:00 am ET and Market orders will be accepted when Facebook (FB) begins trading at approximately 11:00 am ET, as announced by NASDAQ."

And so we wait.

Will update as events unfold. (No limit orders showing yet on any order books I can access.) Yahoo Finance FB page was down earlier, likely due to overload.

The $38 per share price (P/E 87.76) puts the company's valuation at $104 billion (bigger than FedEx and UPS combined) and makes Zukerberg the 29th richest man on Earth.

BONUS: Zukerberg rings NASDAQ opening bell by remote control...