Wednesday, October 17, 2007

EBAY

TASR continued to show weakness..... dipped below 20-day EMA, though not with high volume but it's still a red flag. I still believe the 50-day EMA (currently about $15.90) should show some support, we'll see.

Both CEDC and EFUT they went up in the opening but eventually dragged down by the market. At least they are still in the shape I can consider holding.

LOCM's pattern today is similar to CEDC, but a bit better. Looking to see it improves day by day.

EBAY just reported earnings, beat expectation. Went up by $2, and volume mainly came from the last 15 minutes. Well there's always someone knows something earlier than others, can't do anything about it. After market went up but eventually came back down. We'll see tomorrow morning.

Market was a bit diverge today, Nasdaq went up in the morning due to good reports by Intel and Yahoo, went all the way back down in the afternoon, regained all the points by the end of the day. Intel and Yahoo managed to post an up-day, while IBM got pushed down more in the last 15 minutes (with large volume). It looks to me under this kind of market condition:

1. People are having diverge anticipations, not sure market as a whole should go up or down
2. Strong stocks probably can continue to be strong, while weak stocks could be pretty weak, so watch out on any weak stock, specially stocks that miss expectation while reporting

Have a question before I close here. What has happened to PTR today that worths another $50 billion in market cap???

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