PCLN Update

I think a few of you did take a weekly call out on PCLN and I do think it will move, it's essentially the same set up as AAPL, just replace AAPL with PCLN. The 1-3 min charts look like they'll move, there's a decent, although only day long, reversal process in place. The problem is the 5 min charts and beyond, the 5 min looks horrible so as a long, I'd not hang around too long, I think some money can be made, it's more risk than I'd feel comfortable taking, but I think it will set up another great, "Come to us" trade.

Here's the 5 min chart that is really the fly in the ointment and why I won't get involved (if it were positive or inline I'd probably get involved in an ultrashort term/ultra-leveraged trade, but with this on the radar, it's a matter of probabilities and high probabilities and LOW RISK.

PCLN 5 MIN CHART, A HUGE DIFFERENCE FROM THE 1-3 MIN CHARTS.

As for targets, look at the H&S type top in PCLN, it looks like it needs a right shoulder, that may give you some idea of where to look at a tighter trailing stop or of course we will see things earlier with 3C.