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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (1515)	2/1/1999 3:11:00 PM
From: Howard Hoffman	Read Replies (3) \| Respond to of 7772

EBAY started trading options today. I am in with Feb 285 puts. This stock has one of the most bearish charts of any I am looking at. Besides the gap to close (down to 220 or at least 230), the downward sloping wedge creates an objective in the 100-150 range, depending on how long this takes. If EBAY closes below 220, then look for the bigger drop. Looking for a big drop toward the close today. With the lockup period over and the price/sales at 229, there is a lot of downside potential. And, I admit, of the on-line auctions, EBay.com is the best. On the other hand, the stock looks like it is in for rough weather. If you are looking to buy in, wait for at least 230. Smarter is to look for a base at or below 230.