Tuesday, September 18, 2007

The Bull is Back

Note: Topical Update

Believe me when I say, I wish I could have been at my trading desk today, I mean everything ripped higher today. I had a good feeling about today, after the BBY & LEH numbers, and decided to go heavy long GOOG.

Since I was unable to access a computer today, I thought my best bet would be to buy GOOG with a tight stop in place. I figured if the FED cut rates, which they did, GOOG would breakout from it's trading range above $530-- it did.

I still think the trade is good, right here, right now. Considering the move BIDU just had, why can't GOOG make a similar move? The stock is cheap on every metric, and the chart looks fantastic.

More on this later.....

4 comments:

Bluedog said...

I can't wait for GOOG to break out again. It's frustrating watching BIDU take off and not seeing similar action in GOOG.

StockRake said...

GOOG has 12 bucks to the upside just in the gap fill. Techs all turning up and not overbought yet. I like it.

Hey I noticed I'm not on your blogroll anymore...I promise to be more interesting. :D.

Ragin' Cajun said...

Stock rake,

You are in the traders section right below my blog roll.

Your blog is great.

StockRake said...

BTW congrats on the gap fill today!

Ah and I see I'm still on there. Cool.