By Ilir Shkurti, Benzinga Staff Writer

As the public downgrades Facebook (FB) from "history in the making" to cautionary tale, shares continued their second-straight daily dive, nearing the $31 level Tuesday afternoon.

Meanwhile, another high-profile stock, Apple (AAPL), was seeing quite a bit of activity. The stock had picked up steam earlier Tuesday, gaining 9.5% in the morning alone. By the afternoon, however, Apple was down more than 1% to $555.16.

Given the popular nature of the two stocks and degree of participation they have brought in the market, it is not far-fetched to assume that a sizable amount of capital has switched back and forth between the two since Friday.

Moving back in time to May 10 -- when FB was the hottest thing with a ticker -- AAPL opened near the $575 level and shed just under 8% of its value by the close of May 18, the day of Facebook's IPO.

On Monday, Apple opened at $534.50 a share and by the end of the day it had clawed back over 5%. Meanwhile, Facebook had shed 11%. Tuesday seems to be a continuation of these respective moves.

For those traders that are making the round-trip from Apple to Facebook to Apple again, their trading has proven expensive. An investor exiting 10 Apple shares at the May 18 open of $533.96 would have had gross proceeds of $5,339.60. Those proceeds would have bought 140 Facebook shares at $38 a share.

If by the end of trading session on Monday the investor had a change of heart, he or she would have exited Facebook at $34.03, for gross proceeds of $4,764.20. Entering an Apple trade at that moment would have gotten the investor just eight shares. As of the end of trading on Monday, then, the investor would have been down just under 16% in terms of capital, or 20% in terms of their Apple position.

The bright spot of such a back-and-forth shift would also have meant that the investor avoided a further 2% decline in Facebook, and captured about a 1% appreciation in Apple.

FB was heading into Tuesday's close at $31.09, down 8.6% for the day, while Apple was trading at $553.84, down 1.3% for the day.