Closing Priceline(PCLN) – Travelzoo(TZOO)
Yesterday’s action was brutal on one of my short positions, Amazon. While it is paired against Baidu (which is up a reasonable 9.56%), Amazon’s surge is creating problems. I am now down 7.45% on the trade. I probably miscalculated the impact of having all of those websites/media talking about Amazon as the best pick to play the holiday online shopping. In any case, I still expect this trade to reverse.
The good news however is that I am closing another successful trade at today’s open as my trade on the online travel industry featuring Priceline and Travelzoo worked out well and closed yesterday at +23,14%!
Actually, Priceline gained over 8% while Travelzoo declined more than that.. so a good call!
Will post final price later today!
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Closing prices were:
PCLN: 223.89$
TZOO: 14.12$
Final return on this trade: 24,45%