Many mutual funds have been loading up on google. Fidelity is holding 10% of google. Sure insiders are selling a lot of stock, but it is being eaten up on the market. On the 19th they will be added to the Nasdaq 100. Eventually when they have enough of a float the S&P 500 will add them.
Just for kicks, I'd like to see the dozens of posters that were assuring us they would be making big money shorting GOOG , to come around and say hello. I note the one post tells us of a massive short gain. Aint it grand.
Are you that ecstatic that you're long? It's like you have had your first homerun, relax already. Such signs of an amateur. The ones to make money short on this are gonna be the insiders & smart money when this stock will just gap down ridiculously on news. For this stock to actually show a break in the trend and reverse would be a miracle to the sore burned shorts looking for payback and for those waiting for the right time.
professional shorters would never short GOOG. Stock777: good long play I congratulate you as well. 300% thats no percentage to kid around
Stock 777 you are up hundreds on Goog and you are sulking?! I complimented you on your skill and you bitch and about a small profit I made going short?! Guess you know what you can do with those Goog gains:therapy! Try and have a Merry Christmas, even if its only for the sake of those around you.
Well I am not a professional shorter but I am a professional trader and have been for a long time. I have shorted Goog a couple of times this year and have made some money though admittedly I would have been a lot better off going long. To say that one can't make money shorting goog is as stupid as saying that one can't make money shorting. Shows that you haven't been trading long or you would recognize that a trading style that allows you to hold Goog from seemingly the IPO is only one style and only very profitable when you are lucky enough to catch a winner like Goog. Most of the time and with most stocks that type of strategy is called buy and hold investing and the returns are far lower than those of most successful trading strategies. No doubt Stock777 is going to come on here now and tell us he picks Goog's all the time and his strategy is the holy grail, good for him, though he is surprisingly bitter and unhappy for someone with such talent, perhaps he has had a few too many Goog's that didn't pan out? For what its worth I am up 982% this year and while that is in my top 5 years it is not my best year by a long shot. Bu then again I guess I am just an amateur punk right ;-) seriously ET is a funny place.
You got that right!!! Dude picking Goog's left and right and holding for hundred's of points, that is my hero right there. Too bad about the attitude.
And for the record the buy and cover for the trades that resulted in that 36 point gain in a matter of a week or two were posted ahead of time on ET.
It's funny, I found myself in a similar predicament that coolweb found himself in just last week. I had bought a seat on the merc (not the cbot like cool) last week and then realized, "hey, futures trading is for the birds. I just don't like the way prices move up and down". Laughing at myself (the silly guy I am), i made a quick shift into trading stocks. I am in the process of purchasing a seat on the NYSE right now. A sharp mind realizes the folly of his ways and fixes his mistakes. Like the old trading adage goes, you gotta cut your losses short. Merry Christmas.