33% down for no good reason

This is the situation the eBay share price is in for this year.

Obviously there are some reasons - fears of slowing growth and increased competition being the main ones. But eBay at $29.50? Wow! I never thought I would see that day.

It is frustrating watching the NASDAQ from a distance of about 3000 miles. What really is going on with eBay? Who is selling so much of it and why?

I am glad I am in no hurry to sell my shares as the current price is a terrible one. But on a 2006 PE of under 30 and with a growth rate of 35% this has to look like good value now? Especially with the defensive moat eBay has around its business.

I think to hold volatile shares like eBay you need to be healthily detached from the share price and very patient.

I try to be both those things. Perhaps I will come back to the stock market after the World Cup!