Google, Inc. (NASDAQ: GOOG): 2:15 PM NYC time, October 10th: Still almost two hours left in the trading day, but GOOG is working on a major intraday reversal, as is the rest of the market, notably the Cubes (NASDAQ: QQQQ), which have run up in low volume on last week’s breakouts. At $1.6 billion for a reportedly unprofitable YouTube, with all its copyright infringement lawsuit risk, this will be interesting to watch. I am 100% bullish on the growth of UGC (user generate content) on the Internet, but…
…there’s always a transaction that goes becomes the top of the current cycle. Are we there yet? Too soon to tell, but I at least wanted to point out GOOG’s intraday reversal. We’ll see how it closes. Cheers.
Click here for an index of all of my recent CROX postings.
Like my blog? Want to get automatic email updates at a frequency YOU chose? Enter your email address at the top right of my blog and click “Subscribe.” The service is managed by Squeet.com and is private, SPAM-free and doesn’t cost a penny, so signup now! You can cancel at anytime by clicking the unsubscribe link in each email.
Already receiving my blog via email? Don’t forget to click the “Promote This Story” link on posts you like (links are in the emails you receive).
SEE SOME OF MY OTHER SITES: