GOOGLED

Goog_102805

Only have a minute since this is my third posting of the day, but I did want to point out Google’s (GOOG) action since last week’s earnings blowout and announcement that they will be taking over the world.  Notice the upward slope of the price and the downward slope of the volume?  That’s called “wedging higher,” and it’s not a good sign.  Also note the stochastic crossover in the lower part of the chart.  I took a flyer here to test out my new OptionsXpress account and try a $340 / $320 Dec GOOG put spread.  Stay tuned to see how it turns out.  I can tell you already that I broke a rule by entering the trade before a clear technical signal was given.  That’s what sometimes happens when you set a limit order away from the market and then go into a meeting…  The instruments actually come to your price.  That’s a kink I’m still working out, but at least I recognize it, right?  Ok, gotta hop.  Cheers!

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