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Electronic Arts Inc. (ERTS) Message Board

  • morihei8 morihei8 May 13, 2003 1:06 PM Flag

    Longs:"TSO good." Meanwhile, ERTS down.

    THE MARKET HAS SCREAMED UPWARD since March 13th!

    Where has ERTS gone? Answer: Up 4 points.

    Earnings came out.

    Where has ERTS gone? Answer: Down 3 points.

    I said stay short if ERTS did not close over $62.89. It didn't, and now ERTS is down to $60.85.

    Meanwhile, I hear a lot of yapping from the die hard longs that ERTS can do no wrong, whatever they do concerning MSFT is the right thing, and they have the leverage, etc. etc.

    Last time I checked, this is a stock board. Any longs care to explain what the stock price is telling us about the state of ERTS now that the latest EARNINGS report is out and E3 is underway?!

    Get with the program and listen to the market, not to that feeling of pride that wells up inside you every time you think about EA and its games.

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    • monhei,

      Thanks for the reply.

      Jamok

    • A close below $57 would be the beginning of a decline to at least $52.

      I'm not saying it WILL reach the 52 week low again, I'm saying it will approach it IF the condition I just mentioned occurs.

      I try and let the market tell me what it will do next, rather than just guess.

      So far, so good. This approach kept me out of trouble up at $63, while anyone who didn't close long and reverse short are now under water by $2.60 and counting.

      As of now, the most recent failure at $63 has strengthened the argument for the shorts, as any catalyst for a run-up has come and gone.

      If we do get to $57, I would treat it as I treated $62.89, and go long on a failure to close below $57, while staying short if it succeeded in closing below $57.

      There is some major support there.

    • monhei,

      <<If it falls below $57, you may get another opportunity to buy it (or sell it) at your beloved $47 level>>

      Are you really perdicting a return to the 52 week lows if it pierces 57? Or was that said in the heat of argument? If so, could you explain the rationale? Curious, not attacking.

      Jamok

    • Eh, this debating time frames for comparison is a waste of time.

      ERTS has underperformed this month, with earnings, that is not up for debate.

      If it falls below $57, you may get another opportunity to buy it (or sell it) at your beloved $47 level.

    • monhei,

      <<Any longs care to explain what the stock price is telling us about the state of ERTS now that the latest EARNINGS report is out and E3 is underway>>

      FWIW, I've been following this stock so long that I'd swear, without looking at the stats, that there is a pattern of a run-up into earnings and a sell-off afterwards, so it may be part of that pattern. In any case, a run from @47.50 to 60.85 isn't an impressive run to you? I'd bet, again without looking at stats, that it's beat the market percentage-wise since the lows.

      Regards,

      Jamok

 
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