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Friday, June 10, 2005

Update: Google (GOOG)

Trader Daily has publish an interesting post about Google (GOOG). There's a brief summary on Trader Mike's blog. The original article was posted on June 6, but it's still pretty relevant, because Google has been struggling between $300 and $280 since.

I personally consider shorting Google (or buying put options) if it hits $300 (and doesn't breake it quickly) or falls below $280 support area.

Stock Chart: Google (GOOG)
Stock courtesy of

Panics, Bubbles and Google!
June 10, 2005
Pete and I have noticed unusual (read: MASSIVE!) out-of-the-money options trading in Google, contributing to an explosive move in the underlying stock. Why is that? Because short sellers are taking major heat from shares already sold at lower prices. And a good many of those short sellers remain convinced that GOOG will see a correction, so they are not buying in their shorts. Instead, they are buying call options above the present price to limit further losses, should the search engine keep chugging higher.
Read further:
Trader Mike: Panics, Bubbles and Google!

See also:
Google (GOOG)


Blogger August said...

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I have a day market stock trading site. It pretty much covers day market stock trading related stuff.

Come and check it out if you get time :-)

10/15/2005 08:01:00 PM  

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