GOOG floundering between 50ma and 200ma; another wave of insider selling; volatility ready to revert; RS to Q's rolling over; an ounce of bad news and a drop below 200ma could start a good 50pt drop
GOOG Google estimates raised at RBC (389.99 ) -Update- RBC raises their Q2 and full year ests for GOOG, saying their checks indicate acceleration in domestic search spending in April and May over Q1 levels. Firm also thinks that a weak dollar and continued monetization tweaks should more than offset the seasonal and World Cup-related volume decreases, suggesting upside to consensus is likely. Finally, the insider-selling window is closed until after the Q2 report, easing supply of shares. Reits Outperform and $465 tgt.
Is that an upside down cup w/handle? It could be a bear flag as well. Either way, prob. favors downside move. I backed up the truck and loaded up on some out month fall paper(puts). I hope you're right GF.
Great! Pin-pointed with an error of about 0.25%! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1102547>