Google Update
One of my readers wanted to know if I am still bullish on google, so rather then just send him an email saying yes I decided to post the above chart to make things easier to understand.
As you know I've been bullish on GOOG based on the 6 month cycle and so far GOOG has been trending higher but very slowly. In fact, GOOG is lagging the market and not even close to making new year highs like the DOW and S&P. When I see a stock that is lagging the overall market I immediately raise my protective stops.
If you look at the above chart you will see that GOOG is still holding its long term trend line. As long as that trend line holds I will remain bullish, however if GOOG breaks last week's low I would exit the trade.
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1 comment:
Thanks for the notes Kevin...I bought some GOOG today thinking a push thru 483 on volume would be my signal. Now dropping but won't sell unless they pull the rug out from under it from here to close. now 481.6.
The qqqq has a tremendous overbalance of put to call this week set for 44...expect a market drop.
Just to continue...I've been long AAPL since Jan 2004 and sold the first chunk this week...but had sellers remorse feeling as though I let a family member go and bought back today. hahahah
Lots of growth to got there...
thanks for the refresher...please continue to come back if only once a month.
sincerely...Kevin
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