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Electronic Arts Inc. (ERTS) Message Board

  • NetProphet2 NetProphet2 Apr 14, 1998 8:15 PM Flag

    That's more like it

    Up 5% today looks pretty good. The stock is very volatile short term, but I have a feeling this is the beginning of a good uptrend. It probably will test the 50+ level in the next week or two. What do you think Raphael, Siracusan? You guys still in?

    NP

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    • Netprophet,

      I'm still in and holding for the longer term. I agree completely with Raphael, part of the recent weakness in ERTS might be
      due to the almost frantic interest in the momentum stocks such as Lycos, Infoseek, etc. I work at a retail discount broker and
      have been amazed at how many investors are dumping blue chips and even mutual fund positions and throwing it all into the Net
      stocks, I've taken more orders for Seek, XCIT, YHOO and LCOS than probably all other stocks combined over the last few days. Mostly
      market orders too. It scares the heck out of me to see the masses panic like that, so naturally I'm not long any of those. I'm just
      going to kick back, remain confident in the fundamentals of ERTS and open my eyes in a few months.

      Ciao!
      Siracusan

    • Yesterday, I just closed my eyes when we went below 41 and had the nerve to close below the 10-w moving average. I figured it was due to the very low volume we've been seeing and the probability that the people who buy ERTS are also dabbling in those oh-so-exciting Internet stocks. Unfortunately, that didn't give me the nerve to go on margin for more shares at 41.

      Today was a relief. I'm going to believe this was the test of 40.25 that I was looking for so long ago and gave up on. Now that we've been there, and done that, I'm praying that we'll go higher without looking back (dammit!). Still I'd like to have seen today's action on better volume.

      I'll confess that I'll be looking to lighten up, but not entirely, at 46+, I'm so overweighted. Also, I'm beginning to believe that the whole market is going to move lower in the not distant future, and I'm afraid ERTS will be held down.

      But, hey, my view changes with every new bar on the chart! (And, dammit, that Elliott Wave book hasn't arrived yet either.)

 
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