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Long Play Updates

None today.

Short Play Updates

IAC/InterActiveCorp - IACI - close: 23.23 chg: +0.73 stop: 24.51

News this morning that IACI made another acquisition helped fuel the stock's 3.24 percent rally on Tuesday. Now normally the acquiring company's stock trends lower on news of an acquisition unless Wall Street really likes the deal then the stock of the acquirer trends higher. IACI is paying about $720 million for Cornerstone Brands, a privately held print catalog and online retailing business with an enviable growth rate. As short-term bears in IACI we are worried with today's breakout over the $23.00 level, which was supposed to be overhead resistance. We are not suggesting new short positions at this time and traders with bearish positions should probably be on the defensive.


Picked on February 22 at $21.95
Change since picked: + 1.28
Earnings Date 02/16/05 (unconfirmed)
Average Daily Volume: 4.4 million

Closed Long Plays

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Closed Short Plays

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