Step Right Up - Google (GOOG) Is Ready To Be Bought
I have to follow up on my Google (GOOG) post from July 12th, when I warned traders to get out of GOOG when it was well over $920. The stock has a history of not performing well in consideration of the price pattern that had matured, the over extension outside of the upper Bollinger Band and so on and so forth...
Whether it would ultimately be due to earnings or some other foreseen even, I wasn't so much concerned about the catalyst or what it would be that would tank this stock, as I was that I knew that the stock would drop.
But now I have decided to get back long on this stock. Not because I am some kind careless knife-catcher of sorts, but because the charts support it. Two major trend-lines - a short-term and long-term one that are holding this stock up, and the risk is small enough, that even if I am wrong, it is nonetheless well worth trying..
Here's the trade analysis in Google (GOOG).