Google's runup today

Discussion in 'Stocks' started by bas_yun_hi, Jul 20, 2010.

  1. Hi,

    Today morning the market sentiment was not positive (not sure about negative).

    - IBM missed
    - GS missed
    - housing disappointed
    - DOW and NDX both negative.
    - Goog opened about -5 since last days close.

    I had a short position in Google and it just ran against me. +13.00 in about an hour. Sitting in front of my comp, I am just waiting for a retracement in goog, yet it is just running away from me with strong buying.

    In such situation, what would you all the experts out there will do (besides closing the position to cut your losses) ?

    - where to look for the reasons for this massive run up ?
    - how to ascertain which past resistance will actually hold up ?

    Any other thoughts how to handle such onslaught ?