A few thoughts on today’s action..(EBAY, PCLN)

By: ispeculatornew
Date posted: 03.11.2009 (4:23 pm) | Write a Comment  (0 Comments)

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Today was an interesting day in the markets with Ebay rising by 4,8% as they announced that the Paypal division was expected to double its revenues by 2011 creating by itself an important amount of growth. And as of writing this post, Ebay is up an additional 3,7% which if it carries through could mean the successful end of the February 25th trade,  as the trade is currently up 24%. But given that part of it is after market, I will wait tomorrow’s action to decide if the close should be terminated.

On another note, some very interesting action in the internet travel sector as Expedia announced a major promotion that sent Priceline and Orbitz sinking. I will have to re-evaluate the situation but it certainly looks like a trading opportunity. I have major doubts that Priceline’s 6,6% decline is warranted but it is already rebounding after hours so for now I will observe and perhaps Priceline will be part of my next trade, it has been a favourite of mine in recent months.

All for now!

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