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  • tfv77 tfv77 Sep 19, 2006 7:41 PM Flag

    Why GOOG is in danger of fall?

    < Ask yourself, if you chased this morning above 415, then got bailed out @ 395, will you come back into GOOG tomorrow even it bounces to 405??? >

    Seems like about 115K shares being 'chased' in AH:
    After Hours
    Last: $ 404.80
    High: $ 404.94
    After Hours
    Volume: 115,289
    Low: $ 398.2654

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    • No, I think those are day trading shorts covering in AH! I am day trading GOOG once a while, but seldom hold the stock positions into next day, long or short, gain or loss. It kills too much buying power if you held it overnight. Those who shorted this morning waited until the last minute to cover their early short still made $10 a day. And they cam re-short after open tomorrow, the buying power will not tie up after they closed the position in AH.

      • 2 Replies to jinqiu_lu
      • When GOOG hits 418+ Monday, discipline traders will set their stop loss near LOD Friday, the intraday selling took out all stop loss levels from 395-400, and wiped out the weekly gain on last week�s rally.

        The damage is huge and the Fourth mid-term top is in (other tops: 475, 450 & 427)! On a bull rally, profit taking and short selling will not create a top, those who took profit will jump back in if they realized that they sold too soon, and short selling were forced to cover when new session high set. Major top is create only by stop loss exit and bail, plus panic selling, you will see small bounces to happen after panic selling, but every bounces will get killed by those holding the bag overhead, so you will see lower high and lower low to happen in the following days, and every time the previous low penetrates, you will see more longs bail out, until volume hits bottom and selling pressure disappears, this process will take weeks or even months to complete.

        Don�t forget GOOG still has a gap unfilled near 320, if GOOG does plan to go to 500+, then it must fill that gap first!

      • < No, I think those are day trading shorts covering in AH > Yeah....yeah....yeah....seems that the shorts then beleive that the decline is

    • Wow Even more post!

540.38-16.1600(-2.90%)1:31 PMEDT

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