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To: Nelson Chang who wrote (1567)	2/4/1999 2:42:00 PM
From: Ricky Rydell	Respond to of 7772

Anyone got an up to date number on the float? Curious if that even all the underling employees dropped half their shares, it might not even double the float.

To: Nelson Chang who wrote (1567)	2/4/1999 3:40:00 PM
From: Howard Hoffman	Respond to of 7772

Nelson, <<Howard, No offense but you seem very close-minded. I mean it appears oblivious to you that this stock may go up and break 300.>> It already has by a tad. I agree it could again, but probability says it is unlikely to soon or to stick if it does. When EBAY gapped up and closed >300, there was no follow through. That type of gap is usually a trading gap that will be filled. Not always, but usually. <<There is a strong possibility that this stock can shoot right past the psychological 300. Volume tapered on the way down, and we have somewhat of a reversal from its low of 247. We are just 20 points away from 300, and the 35 point move in YHOO still shows that net stocks are capable of making substantial moves. They haven't been played out. And then there is the huge short interest in EBAY that was established around the 275-300 level in the last week.>> Look at today's volume. The only thing this baby has going for it is the 3:1 coming up which the naive will interpret as bullish. Only the "greater fool" theory could justify a price of 300 at this point in time. I do not know what will bring EBAY back to earth, but it has the most bearish chart of the 10 I-stocks that I am following. <<Yes, large gaps are often filled. But not always. And keep in mind that there is large institutional support for EBAY. Those shares released from insiders could easily be absorbed the market due to the demand. >> Sure many of the institutions missed the Internet boom and are looking for ways in. But most of those people are not momentum players like the people who have been pushing this sector beyond reality. They may be buying to show some participation. With so many mutual funds, there can be quite a bit of volume. But, I think that most of those people are going to wait until a crash comes and you and everyone else who is still bullish is puking out their shares at prices below what you can dream of right now. <<...and the fact that EBAY gapped down? What has that got to do with anything? Virtually every net stock gapped down and many tech stocks also, but they came roaring back. It is next to meaningless when EBAY gaps, because it does it everyday whether up or down.>> You are correct. However, my point was just that EBAY finishing off the bottom for the day was not that bullish. Yes, there was a 1 day reversal of what looks like a significant top and downtrend.