On strong volume closes above 518 This is only the beginning of a huge rally to 600 within a year Notice the perfectly formed cup and handle as well as interesting triangles. I am normally skeptical of most TA but this formation couldn't be more obvious Within a decade google will have a market cap of over two trillion making it the largest stock in existence. Yahoo, ebay, amazon, microsoft, cisco, fox, time warner, and oracle will be inundated by the google juggernaut. Eventually the US gov will powerless against google as it extends its reaches into space exploration and habitation. Google's goal to "Control the exchange and transfer of all information on planet earth though all mediums" will inevitably clash with the US constitution since that type of goal is unconstitutional. The phenomenal rise of google coincides with the transition to a Type 1 civilization give or take a couple decades. from wikipedia Researcher Michio Kaku quotes Dyson as calculating that Earth will achieve a Type I civilization around the year 2200. [11] This estimate is based on a simple extrapolation of the current development rate of Earth's energy budget. Kaku has also stated in a Discovery Channel interview that this transition may occur 100 years from now, around 2107.
Did you get hit by a car before writing that or did you forget your meds? Remember when you were whining about GOOG and asking if it was the worst stock ever? And if it went to $600/share your gain would be $150 on a $450 investment meaning you could make 33% over a year and a half or so. Good job, that's some AMAZING return.
You know me GOOG Slayer. I say couple weeks ago to go short GOOG at $481.00 and very next day it go down and go down over 21 points over that time period. Others say me like genius. Now listen to me.. Me Goog Slayer but I say right now to buy CALLS!!!!Buy CALLS or BUY STOCK That right, GOOG going to be $550.00 before anyone can say "Shock & Awe" Yeee Hawwww GOOG Woof, Woof
It was annoying how AAPL and the rest of the market was advancing but google was stuck at 460. Finally it goes a lot higher. 33% is better than Cramer and the indexes. but then again it isn't very difficult outperforming cramer since 90% of his picks are horrid.
I want to say a few things that I observe from my perspective. That's not a cup and handle. Cup Handles usually form in middle of charts, not at the top of an extended move. In fact, my experience is cup and handles are pretty rare patterns. If anything it looks like a bounce off a major trendline, although the line was drawn wrong. Either way though, I will say it is still a good trade. Long momentum stocks in a rampant bull market, even if you thought that pattern was a double top you should be going long. If you want to see a cup and handle pattern, look at VPRT on the daily from May 06 to early 2007. I would post the chart but I'm at work right now. Cup and handles take MONTHS or YEARS to form and complete, rarely a week or two.
This is a big day for me. I made every mistake in the book on this trade (going long options .. being bled to death) going on since the selloff at January earnings. It turned into my #1 long trade of 07.. I've probably bought calls at every dollar on the way up from 440.. [and bought em on the way down !!! heheh] Pared a giant position down today. I too see it easily hitting 550. But just in case it stalls out here, (remember we were at 470 2 weeks ago) I bought some short jun 510 / long july 510 calendar spreads to offset some synthetic straddles [520 and 530 jun calls + short stock]. Remember when AAPL took off, it was at least after earnings, stimulated by an iphone catalyst. Here the catalysts aren't as obvious, other than TA (Which this stock follows to a T). fundamental valuation should be the driver, considering the stock is priced right now at 519 for 27% annual growth. A 40 multiple should be doable instead of 27... This will easily be 600-700 in a year if the bull market persists. But just a look at the PEG ratio could tell you that.
Yes, but 33% in a year and a half, assuming the stock goes to $600 is nothing impressive at all. Not sure why you're bragging...as of now you're up only about 15-17%...that's nothing to brag about. You're making as much as an index.
One thing I will say about GOOG, buying leap Calls even at $600 wouldn't be a long shot off because it would be very very unsurprising for them to split at this point which would send the stock much higher fast. That's just a guess, but I wouldn't be surprised for a split to be coming.