I bought GOOG a little after their IPO, with prices in the $150 to $180 range. They are THE company to work for in tech. I live pretty close to their main campus and know two employees. They attract the best and smartest. As long they can continue to get the best talent, they will continue to innovate. Tech companies are all about brainpower, and they dominate here
I'm shorting AAPL and GOOG
- Thread starter retaildaytrader
- Start date
In trading I don't give a damn about fundamentals like who is sick, who is running what, corporate issues, legal issues, or foreign government issues.
But price action wise, today looks like a long term down trend.
I wouldn't want to be long now.
GOOG was in a downtrend for a while alright.
Calling a short for AAPL at the beginning of a distribution was a little risky for weak stomachs and an insult to technical traders.
But today is the day of the call.
AAPL is at the lower boundary of its trending channel. For a prove of a real bull it had to make some strong bull days from this day on. But it doesn't look like it's gonna happen.
Of course there'll be some nasty pullbacks for the shorts (and some glimmer of hope for the longs).
And of course it's a matter of time frame. If you were long for the past 12 months it wouldn't matter (to me it would).
But for those who are flat and speculating for a profit over like three months, I'd rather be short .
You could short QQQQ or the Spider as well.
But price action wise, today looks like a long term down trend.
I wouldn't want to be long now.
GOOG was in a downtrend for a while alright.
Calling a short for AAPL at the beginning of a distribution was a little risky for weak stomachs and an insult to technical traders.
But today is the day of the call.
AAPL is at the lower boundary of its trending channel. For a prove of a real bull it had to make some strong bull days from this day on. But it doesn't look like it's gonna happen.
Of course there'll be some nasty pullbacks for the shorts (and some glimmer of hope for the longs).
And of course it's a matter of time frame. If you were long for the past 12 months it wouldn't matter (to me it would).
But for those who are flat and speculating for a profit over like three months, I'd rather be short .
You could short QQQQ or the Spider as well.
I just woke up to find GOOG down another 3% and then AAPL another 2%. How much more of this punishment will you guys take?
Guess what??? The co-founders, Sergei and whatever the guys name is, have decided to sell 10 million shares. These guys are cashing out.
I have modified my price target as a result to $438. I feel as if the GOOG stock price has been run up by overly bullish sentiment and propigated by guys like Jim Cramer saying it would go to 750. I feel at over 100 points lower then we can consider a long position.
The stock is clearly overvalued at current levels. Now with the Google founders cashing out, my confidence in Google has sunk ot a new low. Remember Angelo Mozillo cashing out at Countrywide selling hundreds of millions of dollars of stock? Looks like the founders of the company are now giving us a no confidence vote saying that its not worth it to be long.
I could be wrong and the price of Google could go back to March lows. Anything could happen at this point. This company might be another Countrywide Financial.
AAPL seems to be in a free fall. Steve Jobs is still sick.
I have modified my price target as a result to $438. I feel as if the GOOG stock price has been run up by overly bullish sentiment and propigated by guys like Jim Cramer saying it would go to 750. I feel at over 100 points lower then we can consider a long position.
The stock is clearly overvalued at current levels. Now with the Google founders cashing out, my confidence in Google has sunk ot a new low. Remember Angelo Mozillo cashing out at Countrywide selling hundreds of millions of dollars of stock? Looks like the founders of the company are now giving us a no confidence vote saying that its not worth it to be long.
I could be wrong and the price of Google could go back to March lows. Anything could happen at this point. This company might be another Countrywide Financial.
AAPL seems to be in a free fall. Steve Jobs is still sick.
its all about time frames. goog is not a trade for me. it is an investment that i've held since fall 08 and will continue to hold in a separate account. if it goes down to sub 500, i may buy a little more (only picked up 100 back then). i don't plan on selling either aapl or goog for a long, long time. but thanks for your concern.