Bottoms come in all shapes, sizes, types and colors. Big and small? Long and short?
Nice bottoms have even become so popular they have their own T.V. Show. Nicki Minaj is very thankful for the bottom.
Coco?? Last i checked there was a Zipcode request for that one. But yes, she has a T.V. Show as well.
Spotting nice bottoms can be considered an art form. Especially for a trader looking for the perfect time to go long. Is it the capitulation volume? Chart signals like the moving averages or bollinger bands? Sector news? Sometimes it's just intuition. Either way, on December 14th, 2011, we spotted the bottom of all bottoms. Priceline.com(PCLN) had just touched the bottom bollinger band at $445. We wrote about that action here. To add fuel to the fire, Cramer put Priceline.come(PCLN) on his "Stay Away" list the next day. We wrote about that here.
Check out that chart we posted:
Now check the chart nearly 3 months later as Priceline.come(PCLN) nearly hit $700:
Anyone can look at a chart like Priceline.com(PCLN)'s and figure the odds of it going down are better then the odds of it going up. If trading was that easy we would all be Millionaires. What separates those who make the millions and those who lose their money, are the ability to see through all the fog, the distractions, the short call articles like this one(here).
Cramer has been wrong to the tune of $255 in the past 3 months. Priceline.com(PCLN) is now up 64% from his bottom call. I guess Cramer does not like a good bottom. I'll get Coco his number.
More to come on Priceline.com(PCLN). Be sure to check out our chat for our trades.