TraderWise

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....

I can't fight this feeling that.... I've totally whiffed when it comes to our holding in Priceline.com (PCLN).  Much like Baidu (BIDU) we had a great entry point early last spring, then took profit on a trade... and simple never went back in as we await some sort of pullback.  Our twins of missed opportunity.

I am beginning the oft mentioned Priceline.com (PCLN) today around $102... the 20 day moving average is around $99 but I am watching so many things I tend to lose track of stocks of interest if they are not on "my sheets"... so I am just going to start with a 0.4% stake hoping for a larger pullback.

I also added to the following positions, many of which I cut back seriously in the past few weeks

I've added some long exposure here in the past 48 hours, so to balance that I am going to cull some other names.

BorgWarner (BWA) has had a big run, relative to the type of stock it is (staid).  I am going to sell the majority of what I have left (keeping a holding position of 0.1%) and try to buy back lower (hopefully below $44).  I am locking in roughly a 19% gain.

Well, we have a big winner to close after Priceline shot up following grat earnings. The trade on Long Priceline (PCLN) and Short Travelzoo (TZOO) is currently up 44,49% and will be closed tomorrow morning on the open… so yes, there will be a new trade on Monday!

If you are wondering how it did so well, just take a look at Priceline’s chart just below and you will understand!

I have some high beta on the long side, and I am pairing it with some high beta on the short side now but I am starting small since the market has potential upside to 1095ish.   I am going to begin starter shorts in both Amazon.com (AMZN) and Priceline (PCLN); two companies I actually like fundamentally.   Right now they have broken charts but of course that can change in student body left trading overnight.

Priceline.com (PCLN) is showing some decent strength here, although the close is more important than the intraday price.  This is a 50/50 ball at this point - so not my type of odds.  Plus risk is "on" today as seen by the moves in commodity stocks; and Priceline is one of those hedge fund dominated stocks - risk on, risk off blah blah blah.  Since the stock does not seem to care about "resistance" at both the 50/200 day moving averages and the S&P 500 has a potential for an extra 20-25 points before hitting the next level the bears will show

Good afternoon,

Just a quick post to let you know that I will be closing off the trade on Priceline(PCLN) and Expedia(EXPE) as the trade is now over +20% (+20,20%).

Quick note to let you know that I will be closing off the Feb 2nd trade of LONG PCLN vs SHORT AMZN tomorrow. Amazon did not go down as expected but great results by Priceline were enough to insure a 21% return. Will confirm the exact profit tomorrow when market opens..!