Thursday, July 15, 2010

Bookkeeping: Restarting (PCLN)

Like John Kerry during a presidential campaign I'm flip flopping on (PCLN).  I tried a very quick and dirty short last week just under the 50 and 200 day moving averages which I exited for a 2% loss as the stock broke above (around $200).  The stock has continued to roll since (+10!) and as I said when I shorted it, I actually like the company's fundamentals.  So now we have a much stronger technical outlook to go along with the growth story.  Its drop in May was so steep there is really no resistance until $270s.... assuming the S&P 500 can stay benign.  Therefore, we are back in - last exit was February 2010.

Since the company reports in an "off" month there is no earnings risk until August.  I've started with a 1.6% exposure.

[Feb 23, 2010: IBD - Could and Expedia Hit Headwinds?]
[Feb 18, 2010: - Another Stellar Earnings Report]
[Nov 10, 2009: Hits an Earnings Home Run]
[Aug 10, 2009: - Recession Recsmession! Continued Impressive Results]
[May 14, 2009: in Investors Business Daily]
[May 11, 2009: Continues to Execute Well]
[Feb 19, 2009: Impresses on Earnings]
[Aug 6, 2008: - Down 17% on Good Earnings?]
[May 8, 2008: 2 Earnings Reports of Note: AIG (AIG) and Priceline (PCLN)]

Long in fund; no personal position 


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