Posted on July 19th, 2008 at 06:50 PM
eBay (EBAY) will trigger short at $22.84. For more detail on how these trades work please see my video on XTL Breakout/Breakdown trades (viewable by GET Members only).
As I wrote a few days ago, the NASDAQ has underperformed the other indexes to the downside. We should continue to see weakness in the four letter names, specifically (RIMM), (GOOG), (EBAY), and (AAPL).
Speaking of Apple (AAPL), the chart looks ominous going into their earnings report on Monday afternoon. Look what happened to GOOG, EBAY and RIMM after earnings. Do you think AAPL will be any different? Below is a graphic version of what I think AAPL will look like Tuesday at the close.
Joel Stahl
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