Friday, April 30.
But I'll be tellin ya
this, maties: it's a treasure hunt we'll be
I'll post a small bit o stuff every Friday, between 3
and 4. If you were lucky enough to see this and
plucky enough to keep reading, you'll be buyin like a
fiend on Monday, May 3rd.
First bit o stuff:
this stock exists now, it's an internet play AND it
has NOTHING to do with auctions.
Nasdaq 100 - double top or upside resistance
breakout? ND breakdown will affect Internets the most.
The Nasdaq 100 is currently at the top of a trading
range bound by 2150 and 1880. The top of the range was
first touched on February 1. When the Feb 1 peak was
formed, an evening star formed (candlestick formation).
The evening star is a bearish formation and preceded
the subsequent break of the trend line extending up
from the October lows. The index then traded down to
1880 and from there began the current trading range.
Now that the index is at the top of the trading
range the big question remains. Monday's sharp advance
was followed by a small reversal day on Tuesday (the
index was up most of the day, but closed down near the
lows by the end of the day). On Wednesday, there was a
sharper reversal day with volume picking up. These
reversals at resistance levels, combined with weakening
momentum and breadth, point to at least a short term top.
Not to make life easy for techies, the index then
rallied on Thursday going into the holiday. There still
appears to be selling pressure developing and now that
the third quarter and 401K deadlines has passed, the
Nasdaq will have a real test ahead.
To view a
chart on this commentary, go to
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I should have realized - it's best to go long on
EBay. After all, there won't be any competition, nor
will their shares ever be diluted. This thing has no
place to go butt [sic] up!
So I've finally made
up my mind - I will spend all of my money on EBay
stock. My enormous EBay divendends will go to
gold-plated tulip bulbs. I will buy as many as I can. Then I
will DUTCH-AUCTION them off on EBay! And then I will
be rich! Yes, RICH! And I'll issue my own shares for
all of you to buy. Anybody want to invest with me
now? Or lock in profits by buying futures in
gold-plated tulip bulbs?
Giving the genius of my
business model, no competition, and the high cost of
entry, I think a P/E of, let's say, about 10,000 would
be modest..... Oh - I forgot, there are no earnings
yet. Never mind, they'll be there!
Collectables and Antiquies are growing huge as the baby
boomers grow older. Believe me, a couple of years ago I
would never confess to shopping for these items. I'M
hooked!! 44 and counting.