Is PCLN Too Pricey?

PCLN 10.13.09This is when I truly feel I’m at the Roulette table.  The wheel is spinning, no more bets and that little white ball is bouncing in and out of numbers adjacent to *your* slot.  *Come on 17!!!* 

PCLNs angle is unsustainable and is due for at least some downside with MACD showing negative divergence.  Looking at a 10 year chart, $180 is resistance.  Considering the overall market being a little hesitant here and 3Q earnings just beginning to come out, I’m leaning towards shorting it with a $10 leash to give it space.  I would hope it’s drawn to the gap in this environment.  If that’s a little too pricey for you, I fully understand.  I would recommend waiting until it decisively breaks below support with volume and short it at that point.  It has an ATR of $4.87 Daily so volatile price swings should be anticipated.  Consider when/where you’re entering and fasten those seat belts.

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One thought on “Is PCLN Too Pricey?

  1. Pingback: Fridays Diary « Kos' Tradebuz

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