Seeking Alpha

InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Priceline And Expedia Have Hit Their Tops  0 comments
    Feb 24, 2014 1:38 PM | about stocks: PCLN

    Priceline.com Inc (NASDAQ:PCLN) and Expedia Inc (NASDAQ:EXPE) have topped out. These will see at least a 10% pull back in the coming months as reality sets back in. Just last week, Priceline reported earnings that beat expectations on both earnings and revenue. However, they warned for the coming quarter. The market initially ignored the warning, sending shares as high as $1,333.12. Reality is now setting in.

    1. The stock opened sharply higher after earnings and fell the rest of the day, barely squeaking out a gain following earnings.

    2. Today, the markets are having a solid rally with the Dow Jones Industrial Average higher by over 150 points. However, Priceline is barely positive. This shows relative weakness and should spell significant downside on any market pull back.

    3. Sister company Expedia shot higher in early trading this past Friday. By the end of the day there was classic topping tail, a major bearish signal. Today, the stock is red on a green day.

    Ultimately, these stocks are run too far, too fast. They will pull back and I have shorted Priceline (PCLN). Enjoy and profit.

    Gareth Soloway
    InTheMoneyStocks

    Stocks: PCLN
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart.... http://bit.ly/YelpChart
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock. http://bit.ly/WMTAlert
    Apr 10, 2015
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.