Comments on: Chart Request: Google Inc. (GOOG) http://tradermike.net/2006/06/chart_request_google_inc_goog-4/ Trading, Stocks, Stock Market, Money Mangement & Risk Management Tue, 06 Jan 2009 08:47:28 +0000 http://wordpress.org/?v=2.6.3 By: Baby Jocko http://tradermike.net/2006/06/chart_request_google_inc_goog-4/#comment-2642 Baby Jocko Mon, 26 Jun 2006 07:39:05 +0000 http://www.tradermike.net/2006/06/chart_request_google_inc_goog/#comment-2642 One other thing about GOOG's chart. I did mention the downtrend line and uptrend line, which means it has formed a symetrical triangle. That would suggest that it is more likely to breakout on the upside. But, we shall see. I'm not sure if this market is strong enough for that to happen. Perhaps it may all depend on the Fed this week. One other thing about GOOG’s chart. I did mention the downtrend line and uptrend line, which means it has formed a symetrical triangle. That would suggest that it is more likely to breakout on the upside. But, we shall see. I’m not sure if this market is strong enough for that to happen. Perhaps it may all depend on the Fed this week.

]]> By: Baby Jocko http://tradermike.net/2006/06/chart_request_google_inc_goog-4/#comment-2641 Baby Jocko Mon, 26 Jun 2006 07:30:58 +0000 http://www.tradermike.net/2006/06/chart_request_google_inc_goog/#comment-2641 I agree. I also have been looking at GOOG for a short (although I will look to short HANS first as long as it doesn't breach its downtrend line). For GOOG, I see another resistance line, a downtrend line from its recent major highs. Tomorrow, that line will be around 420 or so, slightly higher than the 415 resistance. Nevertheless, I think GOOG will pretty much follow the overall market as most stocks are these days. Few stocks want to be bold and stand on its own while going through this market trepidation period. Having said that, what the market will precisely do tomorrow is anybody's guess (my guess is down). But, beyond that, my analysis tells me that the market is about to go way down -- deep, deep down; scary down. If that does happen, then as soon as GOOG breaks its uptrend line (~ 384 as of tomorrow), I down't think it will pause until it fills its 310 gap. That's the way I see it. And, although I am often wrong, I'll play it as I see it until I am proven wrong and then quickly exit. But, for tomorrow, my short candidates will be HANS, ABAX, and GOOG. I agree. I also have been looking at GOOG for a short (although I will look to short HANS first as long as it doesn’t breach its downtrend line).

For GOOG, I see another resistance line, a downtrend line from its recent major highs. Tomorrow, that line will be around 420 or so, slightly higher than the 415 resistance. Nevertheless, I think GOOG will pretty much follow the overall market as most stocks are these days. Few stocks want to be bold and stand on its own while going through this market trepidation period.

Having said that, what the market will precisely do tomorrow is anybody’s guess (my guess is down). But, beyond that, my analysis tells me that the market is about to go way down — deep, deep down; scary down. If that does happen, then as soon as GOOG breaks its uptrend line (~ 384 as of tomorrow), I down’t think it will pause until it fills its 310 gap.

That’s the way I see it. And, although I am often wrong, I’ll play it as I see it until I am proven wrong and then quickly exit. But, for tomorrow, my short candidates will be HANS, ABAX, and GOOG.

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