Blah blah blah i am long from 397 and making easy $$$ Google doesnt follow conventional TA patters (bearish wedges). I easily see a target of 500 ...and 540 easily
You guys are overnanalyzing it THERE WONT BE A BIG SELLOFF WALLSTREET LOVES GOOGLE If you go shorrt you are suicidal It up 2% today..none of that symetical triangle wedge BS..just hold and make $$
Once you trading little bit longer you will learn that 10% sell off is not that BIG SELLOFF and happens quite regularly. You should not be scared to go short,if situation warrants it. Watch 405 level and try to find short opportunity.
I see 10% selloffs quite frequrntly as well, but google nas NEVER had a single day sell off of more than 8% or so. Usually google sells off 1-3% a day. There was continual selling in January/feb form 470 to 350 but that was because the stock was overpiced and earnings report was subpar. I will go short when there is some bad press about clickfraud, advertisers pulling out, decreased revenue/growth, etc but at this time the technicals aren't that important. There is too much news and hype surronding google now and it seems that going long will make you more money. Just ride the trend and go short when things go sour.
I did not know that you are daytrading it . I was referring to a swing trading GOOG. You are right about he trend, of course.
GOOG Google: Hearing Piper is out positive on GOOG - expects Checkout to increase ad click-through rates (410.15 +4.04) -Update-
yea..all that TA is just Bull..buy and hold goog MAKE S000 MUCH $$$. everyone loves goog! wallstreet analysts EVERYONE LOVES GOOG AND CANT SAY ANYTHING NEGATIVE ABOUT THE STOCK SO IT WILL GO TO 500 AND MAYBE 700 IN A YEAR. Dont fight the trend. You will lose your A$$ if you do.