Friday, March 9, 2012

PCLN Idea

I hope I don't regret this, but I've never had more emails about shorting a stock then PCLN, everyone wants this one.

The only reason I bring this up is because the risk here doesn't look bad as PCLN formed a tweezer top today which is also a reversal pattern. I'm looking for a move potentially in to the gap.

 The stop would be above today' highs.

 60 min

 30 min

 15 min

2 min

If you take this trade idea, it is essential to honor your stop, I would be a little above the highs and take fewer shares.

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