eBay - Superb Internet Business Model Message Board

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Technology Stocks : eBay - Superb Internet Business Model

EBAY 94.41

+1.2%

3:59 PM EST

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To: AJ Berger who wrote (7074)	10/21/2002 10:53:03 PM
From: AJ Berger	Read Replies (1) of 7772

Longs should be careful here ebaY has had a nice $10 run in less than 2 weeks. this is not sustainable, even if this bear run continues a few days longer. The past few days of this two week run I have noticed a lack of short covering closes. This tells me that despite the loud shorts filling other threads, this stock is not actually in a heavy short position, or the remaining shorts are determined to hold their ground. Either way, new buyers will dry up now, and only sellers and confident shorts will remain. It should be noted that we short here into ebaY strongest quarter so while I believe we will go lower, we may not drop as much as we did a few weeks ago. Those expecting to short down to $45 may be dissappointed. My strategy would be to move with the indexes, while keeping and eye on retail and .com's for some guidence as to what bias ebaY might trade. Today retailers and .coms did not join in the rally, which tells me we are getting close to a top for ebaY. Because of these observations, I sold my long position, and went short into the close. Good luck trading.

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