yea, i'm also short MSG right now, seems overbought but if it doesn't decisively do what i expect in a couple days, i'll be out.
I think MSG is going to reach 34 some time this month. i've been buying and shorting MSG since Linsanity. . Also, became a knicks fan in the process haha.
I usually just buy the dips in strong overall market up trends. But .... Shorting GOOG pros, 'fundamentals' - - the company seems unfocused on maximizing profits - they are too leveraged to advertising - they just give stuff away Shorting GOOG cons, 'fundies' - - they are very powerful and have their hands in a lot of stuff; they just 'sit back' and let the $$$ roll in - they are not overvalued for what they do - they have the stock split and a possible future dividend - they could decide to get lean and mean and maximize shareholder value If you were looking to short an overall market pullback, I'd choose IWM.
I just checked GOOG chart and long term stock chart of GOOG shows that it has problems to stay above 625 USD level. This opinion is based on pure TA and several additional hints from candlestick analysis. Based on this I would initiate short with stop loss above last highs at 660 USD and target I would set to support level for this long term range near 520 USD. If uptrend line will be broken that this scenario will be in play for sure. I do not trade stocks that has to have earnings so now I would wait for few days how investors will react to GOOG earnings announcement. This is not type of stock trading strategy I use in my stock and ETF trading, but I think that this trade could be done only by this simple TA using support and resistance levels. Richard www.simple-stock-trading.com