Overstock.com: The Benefit of Cyber Monday
12/02/2008 12:29 pm EST
As you might have imagined, Overstock.com (NASDAQ: OSTK) had a nice run up prior to “Cyber Monday” yesterday. Although it was down yesterday on larger than usual volume, this might be an opportunity to get in.
It is definitely trading below its 50- and 200-day moving averages, so this is a high-risk play. However, a day trade in OSTK could yield a dollar or more per share if it bounces back from profit taking—especially if the sales numbers come out better than expected, as they did for retail stores on Black Friday.