After consolidating a large move, Priceline.com (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
x
Thursday, March 25, 2010
Priceline.com (PCLN) - Breakout
Posted by
Mark
at
11:54 AM
Priceline.com (PCLN) - Breakout
2010-03-25T11:54:00-04:00
Mark
Priceline|
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Labels: Priceline
Priceline.com (PCLN) - Breakout
2010-03-25T11:54:00-04:00
Mark
Priceline|
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