A Sign Of Weakness — An Example From TZOO

  • September 28, 2004
  • Tsutae Kamada

At last Travelzoo (TZOO)
sold off. I’m sure many traders have been waiting for this moment. At
the beginning of September, TZOO was trading at 43.34, and the 23rd of
September, it hit 76.58, a new high.

None the less, the stock was beginning to show

a sign of weakness. TZOO formed a bearish tail two days in a row, and it
closed right at the bottom of a channel last Friday.

10:04:13
(From TradingMarkets TradersWire)


Intraday Setup Alert


Travelzoo (TZOO) is forming a bear flag on the 3-minute chart. TZOO is
down 5.32 at 65.72.  

A breakdown below the bear flag produced a small gain, but the big one came
shortly after 11:00 A.M.. TZOO took out its intraday support line and fell
almost 2 points in 3 minutes.

By the way, could you borrow the stock for short selling?

T.Kamada

If you have questions, feel free to mail them to me.

Â