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Saturday, July 22, 2006

Revisiting EBAY

posted by Tom C:

At the beginning of July I discussed EBAY. The bearish scenario unfolded over the past few weeks; since that post, EBAY has fallen over 13%.

If you are short, I would recommend covering at least 1/2 (if not all) of your position here. If you hold on to the remaining 1/2, the logical place to put your stop would be above last week's high.

The black line on the chart indicates the 1/2-way point between the 2005 low and the 38.2% Fibonacci extension from the 2005 high to low.

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1 comment:

Randal said...

I hope you had a good break, TOm C. I got a piece of EBAY. Thanks and I hope you post some longer-term charts every few weeks. Nothing like making an extra 10% here and there!