Mercado Libre (MELI) blew away even the most optimistic of calls on its 3q08 earnings and returned a 13c EPS. Sales revenues of U$40.3m were also top notch. These are really good numbers and unsurprisingly MELI jumped bigtime at the bell, touching $13. However the broad market selloff has taken a lot of the shine off today's pop and right now it sits up "only" 13.5% at $11.70 or so.
As for me, well I know I'm fated to get this stock wrong 100% of the time. I sold nearly a buck lower yesterday after chickening out, even though I like the fundamentals of the stock and in this post called it a buy at $20 with charts and everything (in my own defence that was before the whole of the stock market dumped bigtime, but a call is a call). The worst of it was that I even called 3q08 EPS at 10c in that post, and the big beat yesterday should have me buying this stock again. But i think it's best left alone...I might get the big picture on MELI, but my mojo just doesn't work for trading it.