You might as well put more indicators on your charts , price labels & one more MA and like CCI under & RSI ontop for quick look at RSI , they work well together for me alot ...
GOOG has been correcting , MA & V got sold down from their former top highs so why not PCLN too? People are afraid of PCLN but why when its up so much, makes perfect sense it would pullback too. Also EXPE followed, have noted in the past they would rather take profits in PCLN after popping it, let it fall back before earnings so if they beat jump back in giving it a good squeeze. (we've also seen them miss too and drop 60pts)
Basically theres the one pop to 722 & RSI 80 and a higher double top at $728 recently which they're happy to take profs in and let it fall back, pretty richly rewarded up at 728 where the short was if one was ignoring the noise like $1000 PTs for GOOG etc.
When shorted it's gap last e/r in the premarket $533, peeps were amazed when it fell back a whopping $17 later in the morning . Why would the mighty Mastercard fall? Its the same reason so many gap fades this earnings season have been shorts like COST last week because they've already bid up in anticipation is the simple answer and fundies sell into strength at all time highs usually everytime.
So the same thing happening with PCLN happened here too, its a toppy market and if they beat earnings next time they would rather have sold the tops now then reposition in lower, thats how smart fund guys operate.
(over 80% of the ALT pops on earnings have been shorts this season even with the SPY popping, its one's like MW that are already beaten down that are doing the popping & rarer ones like CREE that are in secular gowth mode, that was so cool getting the fade on today!! hehe)
GS here's why was taking fades 154/55 area, SPY 155.50 some mentioned holding long but not a good idea withlower R there and mini sell-off risk out there.
* if you note later SPY bounce to the penny almost right off 60min 200ma @ $153.60 , some bounced & some didnt, NFLX off 179 & AAPL IBM or more beaten down ones like FFIV
EA faded all the way back down to 17 from 20 last night
CELG more proftaking BIDU hammered back
CREE fade yest at 54+ was good
GMCR tuff XEC down a little more from 59
KORS down from 59 test 20m above PANL another $1 fade
LULU contrarian bounce, too many shorts in higher & covering which propped it
GS kissed the lower 50ma like it was scripted from lower double top high
Wouldn't even know how to trade PCLN so just keep it off screen, EXPE so much easier with lower top at 66 but so many easier trade set ups out there than compounding madness with PCLN scattered moves
Might CREE finally rolled over took shorts near 55 were all working
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