SHORT GOOGL. Price target $660-680.

Interesting perspective. imo the best R/R shorting opportunity for GOOGL was late Oct when the stock ran into weekly and monthly resistance on the same day.

Today GOOGL did break and close below daily resistance (as I calculate) and still has a little room for more downside action although the R/R is now not as favorable as it was a little over a month back. Hope it works out for you.

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Van Halen said:
Interesting perspective. imo the best R/R shorting opportunity for GOOGL was late Oct when the stock ran into weekly and monthly resistance on the same day.

Today GOOGL did break and close below daily resistance (as I calculate) and still has a little room for more downside action although the R/R is now not as favorable as it was a little over a month back. Hope it works out for you.

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2 things:

1) Agreed that your timing would have been better shorting opportunity. However, I use a combination of factors and signals and tend to pride myself on not always catching the top and not catching the bottom. I usually require some confirmation of trend direction for my trades before taking them. I also use an hourly chart for entries despite following mostly longerterm timeframes for trade direction. So my R:R is usually more than adequate. My R:R here is nearly 1:6. Its just what works for me.

2) You have the GREATEST Profile Name EVER. Rock On!! Long time Van Halen fan!!
 
It is also likely GOOGL can come down to $720 and reverse back to go up making new highs. Depends on how the general market SPY does. I am anticipating a down move to $195 area.

For the real money, given "not sure" type scenario, I would not take any position in Googl as of now. Would just watch the paper trade take place and take notes.
 
toc said:
It is also likely GOOGL can come down to $720 and reverse back to go up making new highs. Depends on how the general market SPY does. I am anticipating a down move to $195 area.

For the real money, given "not sure" type scenario, I would not take any position in Googl as of now. Would just watch the paper trade take place and take notes.
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Could you clarify something, please? So you think its a not sure scenario but you expect it to go to $195? Not sure I understand what you mean. Also, I am not a paper trader. I do trade real money.
 
Not sure means "when in doubt then stay out". SPY is due for correction but as to how far does GOOGL follow is the question.

Paper trading even when actively into "real money" is essential. Markets are tough tough business, got to test them with calls at every point and make a journal of each call and find out where one went right or wrong.

One situation was recent when TWTR was touching $24. The next day it fell out of the bed and gapped down by nearly $5. Only now am able to reason why it gapped down and only few weeks or even months into future from here on will be able to confirm the reasoning. Won't touch TWTR on either long or short with real money, but will follow its movements with zeal.

Making a trade journal (both paper and real trades) is essential part of development in the markets.
 
eganon69 said:
Similar looking charts but it looks slightly stronger than GOOGL. I would not short it yet but that could change in the next week. I certainly would not be long AMZN here. I just would not trade it. There are better opportunities elsewhere in my opinion.
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yeah, that's true, there risk is too big here.
 
Sure GOOG is not a Buy. But a Short? Same story as AMZN for me.
IMO it is quite better to short a weak stock in a downtrend (biotech stocks for example), or at least wait for a test of the former high @817 dollars (double top?).
Moreover, the November correction stopped right at the middle of the July Marubozu.
See how the October'15 Marubozu worked as a strong support @663 dollars?
Without bad surprise and if support @728 holds : too early.

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CM
 
Well my original short was at $786. This is a smaller add on short at $775. My stop is just above $782ish now so at worst I am slightly profitable.
 
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