this one is sporting a bull flag and in all probability will break out upwards soon. unless the market break down hard. the yahoo-ms deal should be baked into this more or less. it does have the 200 dma overhead to get over, but a bull flag is a rather strong bullish formation. good luck.
Just who, who, is expecting better economic conditions by / during summer. Some have suggested the second half will improve -- and these are the same folks who brought news the credit contraction would be fixed by the end of 2007!
It's typical for there to be some better spending news, and in result corporate profits, during springtime in NA. It's also typical for tax rebates to provide short term stimulus.
But, this year isn't typical RS
ps - flags are broken to the upside or downside, but, it's a mistake to say they are bullish
This puppy will pull back $10-20 if MSFT and YHOO announce a deal. Maximum floor is $500, due to their good quarterly report. Otherwise, look for GOOG to gradully increase in price. With the expected market improvement over the summer months GOOG will top out in the $620 range until their next quarterly.
Quite frankly, I wouldn't short this baby until it hits the $620 range.