It would appear that Priceline shares are in for yet more weeks of winter, metaphorically speaking. As you can see, the stock has crushed a midpoint Hidden Pivot support at 1184.05, implying it will now grope its way down to at least 1038.20 in search of traction. If so, don’t expect the broad averages to go blithely in the opposite direction, since they depend on the buoyancy of the ‘lunatic stocks’ to gain loft. Priceline is a lunatic-sector bellwether, as good an example as you will find of the kind of manipulation that fund managers routinely practice to extract dollars effortlessly from the stock market’s gratuitous ups and downs.
