eBay Inc - EBAY - close: 84.32 chg: +2.25 stop: 77.95*new*
We cannot find any specific news to account for EBAY's strength today. The stock added another 2.74 percent to out perform the tech sector and most of its peers in the Internet group. We are raising our stop loss to $77.95.
Nike Inc - NKE - close: 85.21 chg: +0.56 stop: 87.01
NKE pushed to the $86 level this afternoon, which effectively "filled the gap" from last week. If you look at the intraday chart you'll see the late afternoon pull back. The $86 level should be resistance. Aggressive traders can use today's move as a new bearish entry point. We'd prefer to wait for another drop back under the $85 level and ideally back under the $84.50 mark before initiating new bearish positions.
Picked on February 08 at $ 84.55