MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Lucky888 who wrote (23330)	8/18/1999 5:26:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

Well EBAY is one of my harder stocks to chart as I was just telling a friend onthe phone a little while ago. My question is why risk it? You are comfortably up. As I have stated here many times, I don't trade internets so I am far from an expert on their behavior but.... EBAY has an unfilled gap just below 120 and first support if it tries to close that gap tomoorw would be around 115. Would it be worth a 10 drop inthe option to hold on? Futures sold off after the close so you may get a gap down but I would have dumped today before the close if it were me. I would at least sell half your position to protect some of your gains. I try to remeber to not be greedy as there will always be another trade. Better to hit and run ona few 10-20% gains than try to hit one home run and let a profit turn into a loss or at least lose most of your gain. There is unemployment coming out Friday I believe and Trade deficit news being released soon. I still show the OEX MAx pain well below our current level so there are many factors that could move the market down the next couple days. While I am impressed with the NASDAQ's strength so far today, I would not risk what appears to have been a FANTASTIC trade for you. Well done. Probably not what you wanted to hear but if it were me, I would take the money and run. Let someone else carry it to expiration. EDIT to clarify, I would at the minimum sell half and if it were me, I would sell it all at the earliest opportunity but I am overly cautious. Good Luck, Lee

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next