Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.

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TRADE #6 - Sell EBAY 50s @ $51.25 in Datek (Backlog for April 30, 2001)

Contributed by mm | January 4, 2003 2:20 AM PST

[This is a backlog for a previous trading transaction. It may not fully represent my thinking at the time of the trading.]

I sold 50 shares of EBAY @ $51.25 each today.

My EBAY position has jumped 48% since my purchase on March 13 (ARR = 1,823%). I decide to cash some positions today and celebrate my first success in the stock market. I become to feel EBAY is somewhat overvalued now.

As of today, my initial proceeds of ~$6,800 from stock option exercise has turned into over $7,000 now. Though only a small gain, it's really satisfying considering the general market behaves much worse during the same period.