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I want to look at Yelp ( NYSE:YELP ).
These social media stocks
have been doing one or the other, they have either been going down
or going up, Yelp ( NYSE:YELP ) is the latter.
We look at volume, yesterday's volume; Wednesday's
volume was really pretty good. I thought this was
really impressive and the fact that this stock is flat on the day,
don't pay attention to the red bar it's flat, I guess red is the default
color for when the close
is lower then the open. The stock is working, its been consolidating for a few
months,
and they don't announce earnings for a few weeks, not until the early part of
February, I've seen estimates from the 5th
until the 9th, somewhere in there. You look at Yelp ( NYSE:YELP )
here, again, it's been consolidating, it's in that IPO strategy that I've
talked about,
and it's still working. So what I would suggest doing,
I would suggest being long. I'm not talking about the fundamentals,
I was actually short this stock for a while,
back here in November, when it looked like it was rolling over,
and I wound up taking a loss on the trade. Small, thank you very much, because
that's what I do, and that's what you should be doing.
Losing is a part of trading, big losing
should not be a part of trading, big losing is just for big losers,
so don't do that. If you are a big loser guess what?
You get to stop being a big loser right away.
Anyway, Yelp ( NYSE:YELP ) is up at new highs,
I think you just get this stock, stay long,
and then go out to this time frame, go out to this time frame and just let the
stock work.