Friday, December 22, 2006

Shorting GOOG

What – they just put a $650 target on it and we’re talking about shorting it. What gives?

Although I don’t short stocks (I should - I just haven’t learned how) I know what a short set-up looks like on GOOG. I’ll draw it out on the following weekly chart and you can see if if you can see it too.

If GOOG follows the script it has written up to now it will kiss the 21 and rebound. If not it might fall all the way to the 90 then rebound - if it crosses 90 going down - look out below.


Cal said...

You run a stock market site, it's your absolute duty to learn how to short stocks, because if & when this large upswing we've had in the past 5-6 months takes a turn, you're going to see some prime shorting opps and could potentially make a lot of money off of them. Please read up as I would like for you to succeed.

Marlyn Trades said...

My little joke - of course I know how to short - I just don't want to be bothered with it - I make enough going long even in a weak market. Having to set up two different sets of filters and double up on the numbers of stocks I look at everyday would be too much. If the market is really bad and the weather is good I play golf - if the weather is bad I catch up on my reading. It's how I stay mentally alert and on top of both my games.

Have a good holiday and a great New Year.