This Google chart is taking me back to the good old days when YHOO and EBAY would run 30 points in a day. My co-workers and I, who were all long YHOO, would play wav files of people saying “Yahoo!” all day long. 
Anyway… Mark sent the following about GOOG
I bought goog at $103 and sold half at $265. At this writing its at $290. The chart appears to be going parabolic. From the stochastics it appears to have been overbought for a while.
Congrats on a great trade. You did something that I love to do when I get in something that doubles — sell half. I always like to get my initial investment back and then let the rest ride with a loose stop. The chart is certainly going parabolic. Stochastic has been overbought but remember that oscillators will do that in strongly trending markets. So I wouldn’t sell solely based on stochastic. Having said that, it looks very toppy to me — may be time to decide how committed you are to the remaining half of your position.
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My co-workers and I, who were all long YHOO, would play wav files of people saying “Yahoo!” all day long.
Ahhhh Mike, the good ‘ol days
James,
I had to make sure you were still reading.
I need to track down those wavs.
Why not just use a trailing stop? Who knows where this ride is going to stop? It looked like the end at $220 earlier this year. No need to get out just to be getting out. Unless there is a better prospect Mark would like to put the GOOG money into.
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