I'm shorting GOOG around 650

Quote from Bowgett:
Are you nuts?
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lol... yes, I have to agree with this sentiment. The question is, why? Why short it when it is showing extreme strength? You can make good money shorting it when it's not showing extreme strength.

Applaud you for having strong convictions and being willing to act on them but this just seems to be a little premature. If you have a strategy that involves continuing to short it all the way up, that's fine, but... I'm sure you know the potential problems with that. If you don't have such a strategy, then you're picking the top.

I made a little money long RIMM today. Didn't even think of shorting it. Check the chart on that one.
 
It's broken out. Shorting a breakout like this is just crazy.
Earnings do come in around options expiration day for everything though. It might be worth buying a put or two the day before just on spec, as long as you realize it's a lottery ticket.
But actually shorting? Remember, your potential loss on a short is infinite, your gain is defined.
It's almost the opposite, though, if you buy a put.
 
Quote from Bogan7:

Only monkeys and broke traders try to pick tops and bottoms. You get in front of a train you often get steamrolled
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Absolutely right.

It doesnt matter what the fundamentals do. So many better risk/reward plays out there then holding short a GOOG, RIMM, AAPL etc. You can only scalp shorts on these.

Its hard to justify shorting a stock breaking new all time highs every week. Poor risk mgnt if you average in short.

Even if you short at 650, it shoots to 700, then back to 650 you continue to hold?? Very tough.
 
Source :

http://paul.kedrosky.com/archives/2007/10/19/google_price_ta_1.html


Google price targets continue to be ratcheted up after last night's beat and raise financial results. Among others, I see this morning that RBC's Jordan Rohan has raised his GOOG target to $725, and he rightly points out that the stock, even after its current run, trades at 24x 2009 EPS, a discount to the company's growth rate (which GOOG bears won't care about, because they don't buy the 2009 EPS figures, of course).

Mark Mahaney at Citi has a note out upping the Google price target ante. He calls the company's continuing high growth rate "extremely impressive", and ups his target to $775 (!) based on rolling forward to 2009 EPS multiples.

Speaking of GOOG bears, it's fun to read Jeff Matthews' missive on how Barron's (a representative media Google bear http://jeffmatthewsisnotmakingthisup.blogspot.com/2007/10/price-of-insanity-doubles-barrons-vs.html) has consistently missed the boat.
 
Quote from trefoil:

It's broken out. Shorting a breakout like this is just crazy.
Earnings do come in around options expiration day for everything though. It might be worth buying a put or two the day before just on spec, as long as you realize it's a lottery ticket.
But actually shorting? Remember, your potential loss on a short is infinite, your gain is defined.
It's almost the opposite, though, if you buy a put. [/QUOTe

"But actually shorting? Remember, your potential loss on a short is infinite, your gain is defined."

spoken like an amateur.
loss is not unlimited
ever hear of a buy stop?
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Good, luck why don't you send me some of your abundant cash?
Obviously you have money to burn......
Quote from cszulc:

I seriously don't think GOOG can sustain this type of growth (especially since Cramer says it can go to 750 within months). The rumors about gPhone are already priced in, and in my opinion, it will be not as widely accepted as hyped.

It had its run...

To each his own.....
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