Saturday, January 07, 2006

EBAY - ing

I've been posting about EBAY a lot lately. Yesterday's post was a micro look at its price behavior. Today's takes it out a bit further. Now when you look at this mini-move EBAY, I am questioning whether I've overstayed my welcome and it's time for a reversal. What's a weekend without a holding to sweat over, though? Monday will be another closely watched day. One of two things will happen 1) a breakout above the resistance level since late Nov. of 46.50 or so, or 2) this drops like lead back down to support as low as 43. From a fundamental standpoint, EBAY is not a company that I'm uncomfortable holding overnight, but that doesn't mean I want to give my cash back either. Not making any snap decisions but my finger will be ready at the trigger on Monday, that's for sure.


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