Agree on the shorting at $75...I was just pointing out how when it was at $75 many thought it would go to $80 and then poof, it dropped $17...Lets drop $10 from here and I'll be happy! I'm short lower than you and need it to fall further...See how she acts next week.
I'd love nothing better...I think Santa Claus might keep it propped up to early January and then the air might come out after Santa leaves town...Not sure if I should short more up here or not...Might see how next week plays out into and out of the Christmas break...Didn't like seeing it break above the top of the trend channel but that doesn't mean it will stay above it...It's broken through the 50dma recently and failed.
Well da_driz, she went above the upper trend line...I guess we need to see if it can stay above it...That's the trick...Might not be until January until it drops...Hard to tell with a $9 run up in a few weeks you would think it needs to take a downward turn...What's your take?
You'll be making some serious dough when this happens....We'll have one good correction by March IMHO and Yelp will fall hard if it's not already falling on it's own. Good luck! What are your reasons for your trade?
If you are very confident in your company, you don't sell a ton of stock like this...Not good for investor confidence...Sell some, yes but not as much as he sold...Him and others raise red flags on the health of company...
Couldn't make a higher high and get through the trend channel ceiling and now two days in a row heading south...Again.
Agree...Not sure what a Santa Claus rally might do with Yelp but like you say, it was down yesterday on a big dow day...I want the air to come out of this balloon in a hurry! We've seen it take big drops before so can happen at any time.
What's your take on the next week or two moneynow27? I just like getting different opinions of what people see on the bearish side...Lower high made two days ago...Top of trend channel...All I can see is down from here but Yelp keeps hanging in there...Good luck!
If it broke above the trend channel I'd be a bit worried but it hasn't done that in over a week so I one would think it has to run out of gas at some point and head south...I just wish that down arrow would start moving faster!
WOW! That's a hell of a call da_driz! Into the holiday eggnog early today? LOL! Still at the top of the trend channel and have been holding here for quite a while now...Not sure what's holding it up here...Would have thought we'd be pulling back by now even with the Fed booster rocket Wednesday. What's your take? Besides its going lower! ;-)
Intraday doesn't count! It's how it finishes...A lower high was made two days ago and now two days being below that...Heading back down. Hope you enjoyed your 'high.'
Just made a lower high two days ago...Now heading for another day of not finishing above it...What direction do you think is next?? No, down is the answer.
Many of the power players have dumped a ton of stock in the last 2-3 weeks...It's not to buy Christmas presents I'm sure...Unless they are buying Islands!
I'll check it out...As long as it help confirm that it's heading down, I'm good with that! I know, nothing set in stone that it will drop but down looks like the course of least resistance...Post more candle info when you see it...Thanks!
moneynow27...I don't know everything about charting as far as the candles go...Can you elaborate a little more on your terminology please and how it applies? Is the 'doji' where the thicker part sits on the vertical line? Bottom line is that the tops of the candles aren't breaking above the top downward channel line...Thanks for any insight you can give...I need to go to candle class!
da_driz...I look at Tuesday's high the top of the trend channel...How are you seeing it? I guess the Fed can move things for a day or two but overall Yelp looks like it had it's bounce off $58 and needs to go visit it again.
I have accidently used it when doing search's for businesses...A Yelp review will come up from time to time but I NEVER go to Yelp itself to do a search and I know of nobody in my social circle that uses it. The fact that they mess with a businesses reviews unless they pay up is criminal...Tainted reviews will kill them once the word on that spreads more...