"Ebay just had a secondary public offering priced at $170 a share, a price which the underwriters are backing in the market. This is an iron clad guarantee that Ebay will never close in the $165 to $170 range, it will only close higher than that."
>>This is an iron clad guarantee that Ebay will >> never close in the $165 to $170 range, it will only close >> higher than that."
Yes, you got me, my proprietary technical analysis model clearly missed the mark by a much as 4 points! If if makes you happy, go ahead and keep hammering away on that single point. Does this give you any comfort when you realize you failed to buy Ebay in the $150-$160 range today? It's not too late, Ebay is still a great bargain. Buy tomorrow and be receieve your financial salvation.
Looks like Goldman Sachs and the other underwriters to the SPO are still out there doesn't it? Either that, or the market is finally starting to realize that below $165, Ebay is way oversold. Ebay is among the most undervalued stocks in history.