I elected to cover the rest of my EBAY short inside 12631 just now @ $51.78 from my $54.17 entry last Friday to lock in the rest of the win. The stock is now down through its lower Bollinger Band and 200-day moving average, so don’t want to get too greedy. And I am l looking to re-enter on a weak bounce.
I also scaled partial profits in my EXPE short into this move lower as it hits down through its own lower Bollinger Band.
I have one long on now and am down on it. Overall, I am very heavy cash here and simply playing hit-and-run trading with the shorts.
Turning back to eBay, I still think the stock is dangerously close to confirming a massive head and shoulders top dating back to February. At a minimum, I think you would agree the stock has suffered damage and is quite sloppy.
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well played.
Lagniappe.