Ouch... How many stops to cover were placed in at 100.01? I hope any rookies learned... never fade a rally... never fade strength.... rallies always last much much longer than your avg. joe expects...
I hope the newbies watch and see what happens when a momentum stock cracks $100 this one has worked smooth like a swiss watch.
I'm short right now @102.30. Made money last time by selling naked calls on EBAY. But overall my portfolio is quite long.
Hehe, some people just gotta fight the current! I'm long it since 99.50 (lol, this morning I was just hoping it would crack 100). Let's see how far this mo can take us. You know, this baby's only something like 20% away from it's all time high. Imagine that? An internet stock so close to it's 2000 high. Maybe we get there? As much as I love this momentum moves, like today's morning, I just can't figure out a good spot to place a trailing stop. I'm loathe to just pick out some arbitrary number and put it there, so, since I'm expecting a few more points on this one yet, so I'm really going to have to risk giving back all the juicy gains of today, cos I definitely believe it could easily retrace all that on it's way up.
not for nothin, but being a Trend Follower, I have to ask Why would you short a stock that is going up? Thats like buying a stock that is going down (re: Enron)
EBAY is trading at 100 times earnings. You gotta love that P/E esp. when the stock is trading at $103 and the company's market cap. is $32 billion. This is a great short, perception vs. reality. when it comes to the public though.
BMW, What you are saying makes perfect sense... Except.. since when does the stock market function logically... ? At this point no one really cares how much money the company is making.. its purely a momentum game... Supply and demand at its finest...