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  • itm2000 itm2000 Mar 7, 2006 9:37 AM Flag

    THE GOOG CHRONICLES 3/7/06:::::::::::::


    Again, as I always say but have re-emphasized STRONGLY of late, you ALWAYS HAVE TO HEDGE YOUR LONG SHARES AND LONG CALLS POSITIONS ON GOOG. ALWAYS. It is simply just too damn unstable and unpredictable.

    This time, it is not rumors or news about is the market itself. Interest rates are killing upward traction. The DOW and all of its commodities, etc, is taking the lead with the NAZ and the S&P following in lock step. GOOG is tracking these indeces in lock step as well. Charts are nearly identical. Watch the DOW because its movements take the lead this time.

    Hopefully, as I have mentioned before today, you are out of any March calls. That is the only peril here. Shares will be OK. Too dicey to enter new shorts. Too late to buy puts, probably.

    Watch the simple DMAs:
    200 = about 344. 50 DMA about 40. MACD looks like shit right now. RSI bad. Stochastics are largely oversold.

    Don't sell the puts that I have been telling you to accumulate...because it is not bad enough, yet. It may get so. More than likely, we'll drop some but stage a turnaround later today. Be sure you dump out of any March puts in the trough today....hang on to some or all of later month puts for later, larger declines that could occur.

    I still believe we can reach highs this week of 395+.

    Hang in there. GOOG is a shining star amidst a sea of uncertainty.

    The interest dilemma is NOT that bad, btw.


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