Thursday, March 25, 2010 (PCLN) - Breakout

After consolidating a large move, (PCLN) was trading under $246 for a few weeks.  That level was breached today, and you can see the power of the "breakout" trade below. 

Which is why you don't want to be shorting anything that breaks out of a consolidation pattern....

Within the next few days we might finally reach the "panic buying" stage; today seems like the first step.  You can almost hear the thundering foot steps of a 7 foot tall, 400 lb bundle of bullishness approaching.

No position


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