Monday, April 10, 2006
Trading GOOG (as of market close, Apr. 10, 2006)
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The upside for GOOG that we predicted on Friday, April 7, 2006 after the market's close has been fulfilled today, Monday, April 10, 2006.
GOOG closed at $416.38, up $10.22 for the day. In fact GOOG not only retested the $414 level today, but exceeded it, showing greater strength than expected.
So what's next? Is this a false breakout above the $414-$415 level? While this is possible, it is not as probable. The balance of the outlook is in favor of more bullishness, not immediate exhaustion. In fact, it is now possible that GOOG may move higher to closes the gap it made on February 1, 2006 in coming days or weeks.
Therefore, don't be too surprised to see more upside GOOG, perhaps to around $430.
We should find out soon enough if this current new assessment of GOOG proves correct.
P.S.: Beginning today, April 10, 2006, we've added the comments feature for the first time so that you can make comments, if you so wish. Comments are moderated to screen out spammers.
The upside for GOOG that we predicted on Friday, April 7, 2006 after the market's close has been fulfilled today, Monday, April 10, 2006.
GOOG closed at $416.38, up $10.22 for the day. In fact GOOG not only retested the $414 level today, but exceeded it, showing greater strength than expected.
So what's next? Is this a false breakout above the $414-$415 level? While this is possible, it is not as probable. The balance of the outlook is in favor of more bullishness, not immediate exhaustion. In fact, it is now possible that GOOG may move higher to closes the gap it made on February 1, 2006 in coming days or weeks.
Therefore, don't be too surprised to see more upside GOOG, perhaps to around $430.
We should find out soon enough if this current new assessment of GOOG proves correct.
P.S.: Beginning today, April 10, 2006, we've added the comments feature for the first time so that you can make comments, if you so wish. Comments are moderated to screen out spammers.
