Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: Johnny Canuck who wrote (36210)	2/21/2002 2:00:12 PM
From: Johnny Canuck	Read Replies (1) of 69974

[madtrader] Thu Feb 21, 8:36am PST PYPL I am starting to scale out of this one as it approaches 16.50 level. That makes is near 10% bounce from the lows. I will take that. sold PYPL. [madtrader] Thu Feb 21, 7:40am PST PYPL The reason I am willing to play a deadcat bounce on this one without too much worries; this is a brand new IPO, we are still in the period that the bankers have a lot of incentive to support the shares. When it went to almost 100% gain the first day, that was up to the hedge fund guys to flip it. But down here, the bankers who floated this company do not want to have egg on their face so soon. So they will be actively supporting the shares as it approaches the syndicate price. already long. [madtrader] Thu Feb 21, 7:31am PST PYPL Getting hammered today. I am looking to pick some bottoms here. Don't play this one if can't stand the wide spread and the lack of trading history. long

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