Perfect rebound from the low of 636 on a technical basis great buying opp You dont short stocks like RIMM and GOOG. The 'powers that be' want those stocks to go up. Unless you enjoy losing lots of money. You short underperforming crap like Citi, crox, bsc, home depot, lowes, wallmart, meril, lulu, southwest aairlines, jetblue, so on
How correct you are. But some folks will enter a bullring just to see if they can tackle a bull. You never short these powerful high flyers like GOOG, AAPL, RIMM unless you want your ass handed down to you in a hurry.
. . .and downright silly u r. You rah-rah this stock ad nauseam. Where is your sense as a trader? A simple 1-yr chart will show a stock that bounced around the 450 level (+- 50 points) for the better part of the year. Then it breaks out for a little over a month allowing any good technician to buy at an optimal point. Volume surged and gains <em>were</em> easy. Got it so far? The better part of a 35% move <em>was</em> possible with proper entry and exit. Once leaders pulled back with the market, distribution <em>would have</em> dictated to lock in gains as the stock pulled back and hit stops. Didn't have any, huh? OK so now hold-and-hope along with all your money tied up until the market comes out of this correction - that in all likelihood will be more in duration like summer '06. And well, yes GOOG will likely continue to be a leader so new highs are very possible - but you won't be making any money trading in the interim. So all you can do is say - NO this will move right back up right now and I don't see it any other way, I am right!! OK you are right and it will and hooray! But keep in mind volatility is back and institutions did dump this stock on you. 100 points in paper gain - OR HALF of what may have been earned is gone and well there you are. That is the norm, so the quicker you learn it the better and there is nothing you can say to change it. In fact a short while back I was getting frustrated and started a thread to ask "Why can't the Nasdaq go from 2800 to 2500 (since that has been my experience) and sure enough it has begun to go on the way. See a chart. Study past charts. Know what has to happen and learn to profit from it. If GOOG goes up 50 points tomorrow these basics will still hold up and it will go lower and stay lower for quite some time - sooner or later...that is just the norm, so no need to rah-rah. Paysense
powerful high flyer's like GOOG, AAPL and RIMM. They may be shining now but we all know it doesn't last forever. Look back at 1999-2000 and pick some high flyer's, see where they are today... you think GOOG, AAPL and RIMM wont have any stock declines of 20%, 30%, 40% or even 50% in years to come. Remember these shining stars.... CSCO MSFT DELL AMAT YHOO EBAY
It's not the same as 2000 though. RIMM AAPL GOOG have substancially lower PE ratios as well as much greater growth than CSCO, MSFT, DELL etc had in 2000 at the peak of the bubble. There is still plenty of upside. Trying to call the top on these stocks is a loser's game.