GOOG

[Rolo]

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I split the thread, figure individual stock talk having their own topics would be cool.

tsptalk wrote:

Rolo wrote:

You gettin' back in? I may look at that. [GOOG]

You know I hated that the double bottom didn't hold at 165. It's doing a little downtrend thing now. It will at best come back to 168 (the gap from yesterday). But it may still fill that 153 gap from when earnings were announced last week. Makes me a but nervous right now. Watching right now.

A nice gap up today (11-23) for GOOG..resembles the huge gap up spinning topon 10-22.

A W pattern seems to be forming. I would speculate that it will go straight up from this double-bottom base to it's prior high, around $200, pull back a bit from the resistance, then resume growing. GS says $215.

I am contemplating buying today and selling at $199. Thoughts?

 

[Rolo]

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I did it, bought some GOOG. The Doji's show a lot of indecision and the Harami Cross and today's volume is telling me that the downtrend is reversing.

 

[Rod]

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Rolo wrote:

I did it, bought some GOOG. The Doji's show a lot of indecision and the Harami Cross and today's volume is telling me that the downtrend is reversing.

GOOG is up over $7 today!:^

 

[tsptalk]

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Rolo wrote:

I did it, bought some GOOG. The Doji's show a lot of indecision and the Harami Cross and today's volume is telling me that the downtrend is reversing.

This what Gary Smith at Realmoney.com had to say about googletoday (before the Goldman Sach's report). He mentioned what I was saying yesterday, aboutitneeding to fill that gap.

I hope Gary doesn't mind I posted this. He's a great technician and I highly recommend his service. That should cover it.

By the way, I moved your topic Rolo. The buy - sell - trade forum is for personal items. If you want to sell your PT Cruiser, you can put it there :shock:.

 

[Rolo]

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I wonder why he believes the gap should be filled. I am thinking that, due to the exhorbitantly high volume, that is a new support level.

Today's Doji almost broke that trendline. I do agree that it can go either way and that Friday may be a better day to decide to purchase it to mitigate risk.

 

[tsptalk]

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Rolo wrote:

I wonder why he believes the gap should be filled.

That's what gaps do. I rarely see one that doesn't get filled before it makes a new leg. It could take months, but mostseem to fill eventually. But I guess it does happen.

 

[Rolo]

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tsptalk wrote:

If you want to sell your PT Cruiser, you can put it there :shock:.

hahahahahahaaaain't gonna happen!

Sorry, Az! <g>

I wondered why stock talk wasn't in the obvious "Buy - Sell - Trade" D'OH! RTFM, Rolo!


[line]


I need to get some chart-reading/candlestick books.

 

[Rolo]

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I sold my Nov 24 position in GOOG today for $197.12, a 10.4% gain.

It looks like profit-taking had begun today. I think there may be much more profit-taking Jan 3 and I wanted to avoid that. It looks like a 10-20% correction is in order--the handleafter the cup.

The Bollinger bands and the trendlines also have me thinking that there is more downside potential than upside.