now ebay could fall further...

Ebay looks like it's being accumulated or distributed right now, which one we won't know until there's a clear break and the trend changes or resumes.

The obvious s/r levels 91.41 and 84.34 should be watched, I believe they will tip the smart money's hand... sp... until then.... patience (sigh).

Mav.
 
Hi, im new to ET.

I have read and enjoyed this website for a while, and I wanted to say something about ebay.

Please know that this is just my opinion, and I am by no means a huge time trader or anything of the sort. I do not mean to offend anyone; that is not my aim.

What I want to say about Ebay is the following:

1. It is at a 3 year high.
2. It is showing an uptrend.
3. It broke out of the $70 dollar range on volume.
4. There has been no reversal pattern (no distribution, in terms of volume and/or technical pattern).
5. The stock is in an uptrend, in a bear market.

Since it's in an uptrend, wouldn't it be more profitable to buy on the corrections, rather than short this stock, even if shorting is profitable?

for example, I knew traders who bottom picked a stock, and yes, they made a point or two by doing that. But there would be others who go with the trend and take 5 to 10 points out of the stock. And those bottom picking people got killed when things went wrong (believe me, because I have done this myself).

Yes, I would buy this stock, but my funds are tied up in REDF.

I would like to ask the people shorting this stock, why?

Thanks

Jake
 
Jake,

You make some very good points. Honestly, EBAY has faltered a bit this week. Take today for example. It is basically tracking the market. Compare that to KLAC and QLGC, which have shown impressive strength. On a longer term view, EBAY is putting in what William O'Neill would call a high level base, a bullish pattern.
 
Quote from Jake777:

Hi, im new to ET.

I have read and enjoyed this website for a while, and I wanted to say something about ebay.

Please know that this is just my opinion, and I am by no means a huge time trader or anything of the sort. I do not mean to offend anyone; that is not my aim.

What I want to say about Ebay is the following:

1. It is at a 3 year high.
2. It is showing an uptrend.
3. It broke out of the $70 dollar range on volume.
4. There has been no reversal pattern (no distribution, in terms of volume and/or technical pattern).
5. The stock is in an uptrend, in a bear market.

Since it's in an uptrend, wouldn't it be more profitable to buy on the corrections, rather than short this stock, even if shorting is profitable?

for example, I knew traders who bottom picked a stock, and yes, they made a point or two by doing that. But there would be others who go with the trend and take 5 to 10 points out of the stock. And those bottom picking people got killed when things went wrong (believe me, because I have done this myself).

Yes, I would buy this stock, but my funds are tied up in REDF.

I would like to ask the people shorting this stock, why?

Thanks

Jake
More...
 
It's definitely getting down to crunch time for EBAY. As stated previously, if it can bust above 91 on a closing basis, one would have to go long I believe. However, if it moves below 84.34 that would be a strong indication that the double top formation is holding to form and I'll go short. One thing is for sure, it won't remain rangebound here for much longer.
 
Dear Jack,

maybe you are the kind of person, who goes long crude oil @ $ 39 because
1) it makes an all time high for several years
2) it' s in an incredible uptrend
3) everybody is long, including the turtles
4)all analysts are bullish and professors give price targets of $70-80
5) it is very convenient to go long, because short selling is kind of a bad thing, only evil man are doing

:p
 
heheh

Yea, I'm probably that kind of person.

Im always so late, it's not even funny.

A lot of my winners have been the kind of stocks where people thought it couldn't go higher and it did. Also, a lot of winners have been stocks where people thought it couldn't go lower and it did.

Shorting SEPR at 7 last September? I was really late on that one.

O well. Who knows what stocks will do. Not me, certainly.

Good luck to everybody trading, including me.

Jake
 
Quote from heilbronner:

Dear Jack,

maybe you are the kind of person, who goes long crude oil @ $ 39 because
1) it makes an all time high for several years
2) it' s in an incredible uptrend
3) everybody is long, including the turtles
4)all analysts are bullish and professors give price targets of $70-80
5) it is very convenient to go long, because short selling is kind of a bad thing, only evil man are doing

:p
More...


Well you are the kind of person that completely fails to realize why EBAY is still at such outrageous prices and not getting dumped, even though it has been discussed numerous times in this thread.
 
Think I realize that Ebay is quite strong at the moment, so I covered most of my position. Now I think a split will come right after earings come out.

Been there, done that, know how to act.

Good luck to all, even if you are my counterpart.
 
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