PCLN has had a nice run of over $100 per share over the past couple of weeks, but $810 is the best it will do right now. Take your profit and let it drop at least 3 percent before diving back in. The shorts are not going to get squeezed forever....they will have their way going forward in the short term.
Take your profit and wait for a better entry point...or wish next week you would have!
At any sign of weakness from anywhere in the world of finance, wealth managers will start unloading PCLN in droves and this stock will drop $50 - 70 in a heartbeat. Go back and look at its history. Over 95% of the stock is institutionally owned, and those guys always run this stock up quickly before unloading it on retail investors. Europe in recession, payroll taxes increased 2% on working people, and America barely gaining strength in employment: this is the formula for a successful year of online spending for summer getaways? Where is the money coming from? Why do you think PCLN management decreased their earnings forecast for this quarter? Don't fall prey to the hype. I've shorted 200 shares @ $812 today. Next week, this stock goes below $800, no problem. If we have any bad news, it goes below $750. Don't say I didn't warn you.