WOW, WHAT A DAY EVERYONE!
Certainly the internet auction stocks are the hottest stocks since YHOO, AMZN and AOL came out!
THE FRENZY CONTINUES!
There are a couple of things which concern me for the rest of the week, however.
I don't like the fact that CNBC is deliberately attempting to influence the "exuberance" displayed currently in the "hot" internet trading sector - sure, I realize that this is no longer investing, but "legalized gambling", yet we are all adults here where do they come off treating us like little kids when it comes to online-trading!
CNBC constantly reminds the viewers how overvalued these stocks are
Duuuh...!
Also today, William Blair & Co. "dumped" huge blocks throughout the day, several times keeping MALL from rising to even higher heights.
This was especially apparent at the close when over 26 straight buys came in at $34.25, yet the offer (held by WBLR) never lifted.
A SURE SIGN THAT SOMEBODY BIG IS DUMPING!
At this point - it is not too alarming, however, keep your eyes on WBLR (for those of you with level II) and check if they continue to keep this stock from realizing it's true potential.
In regards to staying long over the weekend, without news, I believe besides COOL, MALL is the best long in the short as well as the long run. (I truly dislike EGGS as a buy, however)
BTW - a friend mentioned that he sees Merrill bringing UBID by Tuesday 11:00 a.m. EST
Finally, for those of you who care, I daytraded MALL today for a nice profit of 16k, but I am still long 9,200 shares (6,000 from $14 3/8 and 3,200 from $36.5)
Rico
P.S. At this rate I am looking to change my licence plate to MALL LOVR <<gg>> |
