I've paid close attention to Priceline recently, since it stood to reason that the stock market would go nowhere without Priceline to lead the charge. However, with the stock closing fast on a 1224.45 correction target flagged here a week ago, there may be a 'Jackpot Bet' opportunity using out-of-the-money calls due to expire on Friday. For further details, see my PCLN tout and chart -- and drop by the chat room today for further updates in real time.
Thursday, September 4, 2014
PCLN – Priceline (Last:1195.02)
– Posted in: Current Touts Free Rick's PicksThe stock has fallen $27 since I first flagged a 1224.45 correction target a week ago. If you were short for any of it, reverse the position near the target and use your gains to cushion a stop-loss for longs initiated there. I'll also suggest -- to all -- that you position for a possible 'Jackpot Trade' with a laid-back bid for Sep 5 1250 calls if they should trade for under 1.00 today (Thursday) with PCLN 1224.45 or higher. This order should be considered VERY time-sensitive, since the calls will be fading fast if they look like non-performers in the last two hours of the day. I'll be in the chat room to provide timely guidance in any event. ______ UPDATE (Sep 4, 10:25 p.m. EDT): The stock continued to look like hell, although some subscribers ended the day retaining a call position that has a chance of performing if PCLN opens on Friday with its well-accustomed head-fake. ______ UPDATE (Sep 7, 10:25 p.m.): The stock opened on a gap lower and continued to sink, rendering our calls instantly worthless.
GCZ14 – December Gold (Last:1279.20)
– Posted in: Current Touts Rick's PicksYesterday's flaky price action failed by 2.30 to achieve a downside target at 1259.60. The near-miss of a target so clear and compelling would have bullish implications if the next move is higher and exceeds the tiny 'external' peak at 1278.80 shown. However, a breach of the support, even by as little as five ticks, would hold at least mildly negative implications for the near term.
