Upgraded GOOG at this level?? Being in the game since 1989, I have to say most of the analyst are just B.C.B. analysts.
They upgraded GOOG because they took it as a tool to pump the market. They upgraded it in order for the institutions to get out.
GOOG is a strong sell in the short term.
Analysts keep playing the upgrade game on GOOG. We've seen that many times before. In 2008, they upgraded it near the top at $700; in 2010, after the upgrade, GOOG went down $100; even in last Oct/Nov, GOOG went down more than $100 after a upgrade.
They use GOOG as a tool, that's all.