The reason for the drop is that the
boycott/slowdown by ebay
sellers is finally starting to take
hold. The news media is
being notified and the
message boards have been humming. Ebay
has been hurt
by their outages and this is just another nail
their coffin and a win/win situation for their up and
competitors who are learning from ebay's ignorance.
Next Tuesday (9/14), Nasdaq's Customtracks Corp.
will be changing its name.
As you all know, often
an internet stock will double when it changes its
name. The most price action is seen between 5 days
before and 15 days after the change.
The symbol is
No one will be able to compete with eBay for a
loooooong time. I actively buy/sell on eBay and find these
outages only mildly annoying. I have checked out all the
other auctions sites and they all stink compared to
eBay. Nobody can come even remotely close to the volume
of items, and ease of use. Ebay also has a very
loyal following; for the most part. If you question
that, check the message boards. Ebay is not perfect,
but it is BY FAR the best auction site out there. By
the way, I am not a stock holder, just a very
satisfied eBay user. Good luck eBay longs. Bite me eBay
I was thinking along the same lines when I hit
upon your message. Probably what you might wanna add
is that when there are not many new buyers left and
the market begins to go down, the first people to get
out are the first 15-20 people who got in (who are
institutional investors, underwriters and insiders) most of the
time. Talk about a pyramid scheme...
There has never really been alot of institutions
in this stock. E-Bay did 4 mil shares today with
only 85k being institutions. Compare that to PFE which
did 5.4 mil and 1.7 mil was institutions.Institutions
don't want to pay $120.00 to earn one penny. For that
they'll pay maybe $15.00 to $20.00. They could buy TECD
for $36.00 to earn $2.54.
All I can think of is that the shorts figure that
the news to come out tomorrow and Friday will drive
the price lower, so why cover, and that the longs
figure that because the NAPM report didn't hurt, neither
can the news yet to come out this week, so there's no
sense in selling at a loss.
I have to agree with
stcg_marketcrash99 that there's not nearly enough pain out there
I wish they would put a lie detection meter at
the bottom of the CNBC screen because the majority of
analyst outright lie for gain OR they're throwing darts
for their stock picks. The same goes for this message
board. I'm using stochastical charting, technical
analyst and classical analyst...and it ALL shows EBAY is
setting up for a major downturn. This kind of b.s.
message is why I started studying trading. There are so
many talking heads out there you can't believe any of
them (unless you can separate out the fools any greedy
liars). The herd is ready to panic right now and Fridays'
report may do it. This is no time to be long in
anything, especially a bloated stock like EBAY.