Zeev's Turnips Patch-No Politics (ZEEV)

[Bearmove]

EXPE...

Internet travel agent Expedia (Nasdaq: EXPE) took its turn in the earnings
confessional last night, reporting fourth-quarter results of 48 cents per
share. These figures topped Wall Street's consensus estimate by seven cents
per share, or 17 percent. This morning, Legg Mason boosted its rating on the
shares to a "buy" from a "hold." The shares have advanced more than six
percent today, hurdling their 10-day moving average in the process. EXPE has
not closed above this short-term trendline in over a month. Additionally, the
equity has moved above potential 50-percent retracement resistance at the
58.16 level. This marked the retracement point between the equity's
mid-October low and its mid-November high. During this month-long rally, EXPE
shares increased more than twofold. Schaeffer's put/call open interest ratio
(SOIR) for EXPE has fallen rapidly over the past few weeks. As recently as
January 21, the indicator stood a chip shot away from a new annual high at
1.23. The SOIR now reads 1.01, in the 50th percentile of all readings
measured over the past 12 months.


Click the following link to see the Daily Chart of EXPE Since October 2002
With 10-Day and 20-Day Moving Averages:
http://www.schaeffersresearch.com/wire?ID=7064 .