GOOG. A chart with a boatload of problems back in January. Sold off ahead of earnings - see those red bars before the nasty gap down. Then the nasty gap down on earnings. It has been trading sideways in a tight range between 600 and 620 for 6 weeks. Volatility squeeze. Close to the 50 day moving average, but in the last week it has started trading above the 50 day moving average and not below. There is still alot of overhead. I have no position. If it gets any higher though, I think you could consider it for a trade. (Baron - he of SMG fame - traded this one a tad this week as well. I was too busy staring at AAPL.)
Friday, March 16, 2012
Friday Morning Thread
GOOG. A chart with a boatload of problems back in January. Sold off ahead of earnings - see those red bars before the nasty gap down. Then the nasty gap down on earnings. It has been trading sideways in a tight range between 600 and 620 for 6 weeks. Volatility squeeze. Close to the 50 day moving average, but in the last week it has started trading above the 50 day moving average and not below. There is still alot of overhead. I have no position. If it gets any higher though, I think you could consider it for a trade. (Baron - he of SMG fame - traded this one a tad this week as well. I was too busy staring at AAPL.)