And now, Priceline has joined the list of high-fliers that have gotten sacked as portfolio managers limp toward the goal line. Surely the Masters of the Universe could not have wanted December to turn out this way?  One suspects they had little choice, however; for not only was there insufficient buying power to goose the broad averages into year’s end, there weren’t even enough bidders to hold stocks at cruising altitude.  Under the circumstances, it’s logical for DaBoyz to have allowed some of their bread-and-butter stocks, most painfully Apple, to fall to levels where shares can be more comfortably accumulated.  Even better for them, once sellers are either depleted or on holiday, it will be relatively easy to recoup the losses in mere hours via short-squeezes that are a reliable feature of the December trading calendar.

From a technical standpoint, PCLN would become a moderately fetching buy at 617.79, the midpoint pivot (on the 30-minute chart) of A=661.86 (12/07 at 2 p.m. EST); B=626.53 (10 a.m. on 12/10).  That number should also serve as a minimum downside objective for this dive. _______ UPDATE (December 14, 2:30 a.m. EST):  Priceline took a $6 bounce, its only real rally on an ugly day, from 617.72 — just seven cents from the Hidden Pivot target given above.  No trades were reported in the chat room, so I will not be providing a tracking position.  However, if you’re interested in trading the stock, it is now an odds-on bet to fall to exactly 584.55. (60m, A=672.95, B=623.10). The midpoint pivot associated with that price is 609.47, so be prepared for a struggle at that price between bulls and bears.