EBAY We did finally get our target of 100 for EBAY (set the evening after the report) We knew we were wrong on EBAY dropping below 90 from the moment of the report so we readjusted our target from below 90 to 100) which was significant and possibly now some of the flyers will be ENDING rather than beginning. eBAY was a "blooper" and one of the few we misdiagnosed for after earnings. EBAY made 20 point on the short end and another 10 on upside after the report. We lost those 85 puts for May but it was worth it.
Maybe those bears crying "pullback" for the past 5 weeks will be correct as what goes up inevitably must come down..........................................eventually when the doom and gloomers end up in their bloomers!
Posted by: jenna In reply to: jenna who wrote msg# 14917 Date: 4/22/2003 4:39:30 PM Post # of 16346
Long eBAY 88.85, target over 90 after the cc or higher. Doom and Gloomers biting the dust yet again. This market just wants to power high and glad no shorts. We don't analyze the direction, just the stocks, earnings plays and support/resistance of those stocks. Now I'm down in those eBAY puts but with these positions I will still power over $20 profit since March 28 just on eBAY
Posted by: jenna In reply to: jenna who wrote msg# 14948 Date: 4/23/2003 10:49:31 AM Post # of 16346
eBAY is a buy the dip stock and I do think it will see 95 and even 100. Every short, intermediate and long term indicator was pointing at "buy". Never judge just expected the possibility that it would see 95 after the report, that is the Chameleon Strategy and why I traded this after hours because of all the volume.
EXPE looks ready for a 5-8 point pullback about like the last one. I will look forward for shorting technology rallies as I can't see any catalysts in the earnings arena that would prop up the techs much from here. SMH has topped already on Thursday by 10:00 and rallies are being shorted. We've gone through this cycle for 6 years. Once the major technology stocks have finished reporting the techs usually pull back until the next earnings warnings (late June) when the cycle begins all over again. To anticipate an upcoming rally now is like walking across a frozen lake during the spring thaw and praying you don't fall through the ice after successfully stepping across safely through the last earnings season. There will be some ups and some downs but beyond trend and reversal period trading i wouldn't hazard a swing here.
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