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Electronic Arts Inc. (ERTS) Message Board

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  • Raphael8 Raphael8 Sep 13, 1999 5:02 PM Flag

    Reason for price drop

    I don't believe for a minute that ERTS dropped
    today because Microsoft is entering the video gaming
    console business. That may be the excuse (though I doubt
    even that), the reason is that ERTS broke down on the
    hourly chart.

    That huge trade (read sale, not
    buy) must be somebody who trades on the technicals. It
    was made just after the trend line was clearly
    broken. The guys who buy on fundamentals kept buying, so
    the price didn't drop right away, but there was no
    stopping it in the last half hour. Another big volume down
    day and MACD (histogram) down on hourly, daily, AND
    weekly charts says that the move is now down, and that's
    how the traders will likely play it. If I can work up
    the nerve, I'll play it that way
    myself.

    Doesn't mean that the stock is broken yet, because it is
    still okay on the daily chart, and it is very
    encouraging for the bulls that we didn't go below 71.5 today.
    Could go either way tomorrow. There's room to move up
    to 78+ and room to move down.... well, let's just
    say that there's a lot of room after that huge run up
    off 60+

    Perhaps there was a little
    disappointment today that Sony confirmed Playstation 2 for March
    2000 in Japan, not the rumored 1999 ship. Again,
    that's just an excuse in my book.

    Best of luck to
    all.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • if you watched the ticker in the last half hour,
      you would have seen a whole lot of this:

      Bid X
      (size > 100)
      Offer X - 1/6 (size >
      100)
      Sale X - 1/4 (size = 100)

      It was the MOST
      frustrating thing to watch, and frankly... pissed me off.

    • do just one thing, drive prices of games down to
      meet PC game prices. Personally, I don't like MSFT
      games nor think Windows is a superior product. They
      have a big following, big name and are expanding. All
      they are going to try to do is flood the market, buy
      shelf space. It just means more competition and a
      company like EA thrives on this and will have no problem
      surpassing even MSFT for quality.

      BTW: last 10 ERTS
      transactions were all buys. I expect it to drop more tomorrow
      but it shouldn't send any investors in a panic

    • Maybe fear of Dreamcast success had something to
      do with the selloff today. COMP USA was apologizing
      in my Sunday paper for selling out on consoles and
      games and having to turn people away. Sega has many
      months to gain a foothold. EA wouldn't make a nickel off
      it since they aren't developing for it.


      Anyhow, some profit taking was about due. This stock has
      never been volatile only on the upside.

      • 1 Reply to Buck_Trend
      • I often forget that the average ERTS investor
        (including the funds) understands less than we do about what
        can happen in the game market. Seems to me everyone
        should have been expecting a strong Dreamcast showing
        since E3, when everyone was surprised how good it
        looked and how much support it had with solid
        games.

        Now that Dreamcast has shipped and confirmed it isn't
        an outright dud, EA may look silly for having
        nothing on it. And then Sony is pricing PS2 at $375.
        Yikes. Good thing it's a DVD player and more. Of course,
        I don't honestly expect it to ship at $375 in the
        US next Christmas. That feels like such a long way
        away, doesn't it? Still, gotta say, I trust the folks
        at EA to make the right decisions on this
        one.

        Anybody know how the new Final Fantasy is doing in the
        stores here? Certainly didn't stop anyone from buying
        Dreamcast.

 
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