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Technology Stocks : eBay - Superb Internet Business Model

EBAY 82.13

+0.1%

10:40 AM EST

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To: lebo who wrote (1572)	2/4/1999 8:16:00 PM
From: Howard Hoffman	Read Replies (1) of 7772

<<Tomorrow should be a great day for EBAY>> A differing opinion: Today was EBAY's worst trading day ever (not the biggest % or pt drop, but the worst in terms of pts x volume). That is hardly likely to indicate a great day tomorrow. At a minimum, EBAY will probably trade down to 234 to close the Jan 27 gap up. Anyone thinking tomorrow is a "buy opportunity" should keep a few things in mind: * EBAY chart forming a 3-headed Head & Shoulders - ultra-bearish, probably leading to 180 or so very soon * Downside risk is far greater than upside potential on a stock that went public a few months ago at 18 * Greenspan said nothing about EBAY or any specific stock, true EBAY may be around a few years from now, but when will it have enough sales to justify a capitalization of $11B (recent peak) * Good timing for insiders to bail out: announce 3:1 split just before lock-up period ends * Look out especially if EBAY breaks support at 218 Lebo, How do you explain today's volume and the fact that EBAY was the biggest casualty of the major Internet stocks today?

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