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Technology Stocks : Booking Holdings (formerly Priceline) -- Ignore unavailable to you. Want to Upgrade?

To: ecommerceman who wrote (2260)	2/10/2000 12:31:00 PM
From: Trey Yon	Read Replies (1) \| Respond to of 2743

I too was forced to dump my small PCLN stake this week. Here's my take on the technical read on PCLN. It's caught in a downtrending channel (lower highs & lower lows) for the past 6 months or so. PCLN had reached the upper end of this channel (in the $60 area) over the last few weeks, now with lockup expired I'm looking at a series of filled candles and anticipate a short term test down to the low to mid $40's. (Not the kind of pain I was prepared to take) Tuesday (when the lock-up expired) a 2,815,000 share block was tossed on the market at 10:44 AM at $56-3/8 (somebody wanted out badly) On other subjects I was floored when I went over the Income statement to see this young company just charge off a Billion dollars on the income statement like it is NOTHING. Don't get me wrong, I think PCLN is uniquely positioned, a GREAT web business model, BUT given the way the company handles it's finances & the laws of supply & demand where large early investors who now want OUT are going to GET OUT at any price because they still are riding on big paper gains. I'm talking mostly about airline partners of PCLN. They are selling to fund buybacks of their own depressed stocks. just my 2 cents, back on the sidelines