Sergei Bryn has filed SEC form 4 to sell 5 million shares. He has NEVER sold this many shares before. Why would you dare trade against the founder of the company? The founder of the company is selling his shares and you should therefore follow him into the trade and sell yours. Google could easily slide another 20% from this point.
its not just sergi brin, the other founder, larry page, has filed to sell as well. it doesn't bother me in the least. first, the sales will occur over the next 5 years. second, the founders each have many, many milillions of shares and and this represents a relativel small portion of their entire holdings. third, if i had as many shares in one stock as they do, i would want to diversify as well. if you know anything about silicon valley companies you would understand that insiders and founders always sell shares, and the fact remains that the two google founders have actually sold a very small amount of their shares so far, so selling another 5 million shares stretched out over 5 years is well within the norm of the SV culture. sure, some (you are an example) will use this news to sell. whereas others will use this news to buy more. i may be in the second camp.
I just got back to my station to find Apple tanking after the conference call. It is now that time again where we need to double down on our shorts. A blow-out quarter followed by a selloff. Good time to sell...
Hmmm. Let me turn on my computer today to check the stock prices. Lets see Appl...down 2.5%, GOOG down another 1%.
So, lets look at the performance so far, since the markets peaked out Apple has traded down about 3.75%, the S&P has lost 5.4%, your call has underperformed even the broad market. Google is down a lot more but as we all know it was almost entirely on the back off their pullout of China. Great call dude, LOL Re your tech short call, the NQ has lost a little less than the S&P. You really have ONLY been lucky with Google which nobody could foresee. To be honest your call for a big sell off in tech right now looks like a huge 50/50 gamble, nothing I want to bet on. Go ahead and amass your disciples who think they can read the crystal ball better than the rest of the world.
+1 I don't think logic is retailstopfailure's strong suit. Don't forget, this is the kid who cited the founders' selling of a tiny portion of their stock as evidence that 'Google is finished'. Yes, that's right - if you don't believe me, review this thread. 'Google is finished' was his analysis. The whole point about shorting AAPL is, as you say, that it's a huge gamble. It doesn't make a bit of difference what happens to AAPL from here. It's just not a smart stock to be shorting at these levels, given the action over the past xx months. Someone made the point that you have to go against the herd to make big money. Sure, go ahead, but pick a stock that isn't in the top 5 of all time for its capacity to rocket upwards. At any rate, I think the weird statements that retailstopfailure has made in this thread and others (like how AAPL is 'tanking' when it is doing nothing of the kind, or how Google is finished, or how some of the most established guys here 'can't trade') make it clear that we're dealing with one of these interesting internet creatures - someone who is trying to construct a life for himself by pretending to be something he's not.
Here is how I played Google. I own 100 shares in my account. I had a nice run up this year and when it fell like a rock I bought a 600 long term put. I also sold a feb. 600 call to help finance the put. At the time it looked like support was at 580 and it cut right through that to 540 and the next level of support is about 480. Interesting that the run up was from 280 to 630 for a 350 point gain and a 50 % pullback of 175 from 630 is 455---close enough to 480 at these levels. I intend to keep selling otm covered calls to make a buck or two while I wait to see what will happen. Personally I dont look at the biggest and best like aapl or goog for short candidates--not that they dont have price swings--just that I look for the weak sisters in a sector to pick on and feel Im taking a better risk. Thats just how I see it.