This internet stock is just lifting off from its launching pad.

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.