2:35
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The big three indexes may have based and bounced a bit last week, but they haven't regained and closed above their 50-day Simple Moving Average that has acted as a support for much of this year.
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The past two weeks have seen the markets trading lower overall...There are periods of time where the equities markets have tried to recover after a selloff, but then the sellers- orselling- kicksback inandtakes things lower again.... Read More »
There are a lot of questions these days about the valuations of high-flying tech stocks.
Are they too high?
Are tech stocks a bubble?
Can they keep trading higher?
Frankly, I'm not interested in weighing in on any of those questions because we can just as easily shift our focus away from the expensive tech stocks and zero in on fairly-priced alternatives, like eBay Inc. (NasdaqGS:EBAY).
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The trade that we opened on Monday on eBay, Inc. (NASDAQ: EBAY) is currently in a profit-taking position.
Although we are slightly off of our target, this trade has the potential to move down over the next few trading days, so we are going to grab our money and run.
Here's what to do...
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We're on the brink of football season starting in just a few weeks, so forgive me as I start with the analogies, but... have you ever seen one of those memorable drives down the field? You'll know the one I'm talking about in just a minute.
A team gets "pinned" inside of their own one-yard line and is looking to move the ball 99 yards for the score. Those moments usually end in either a tactical move down the field one step at a time or a "lucky" play that breaks straight to the point.
You know my saying "luck prefers the prepared trader," right? Well tactics and preparation when it comes to investing and trading often result in some special success.
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As I was getting ready for the Livestream that's happening at 11 AM, a signal flashed across my screen that I just couldn't ignore.
Ebay (NASDAQ: EBAY) is setting up to pay out big, so I needed to get this out to you as soon as possible.
Now, we will go over the details of this trade in the Livestream that you can catch right here.
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I have good news and bad news.
Since you can't exactly tell me which you want first, I'll start with the bad.
Just before 3:00 this afternoon, shares of eBay Inc. (NASDAQ: EBAY) shot through the roof after news that Intercontinental Exchange Inc. (NYSE: ICE) made an offer to purchase the ecommerce company for more than $30 billion.
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Talk about a blast from the past!
Well, first thing's first - this afternoon's results from the model run were pointedly favoring the bearish outlook, despite the market's jump higher.
The reason for the negative bias in the results is the fact that the market is becoming a little less correlated in these moves, meaning that we're looking at a larger probability that the market will take a much-needed rest in the short-term.
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