Sunday, July 22, 2007

Google


What is the old line? What's at the bottom of
every sunken ship? Charts. This chart has a
few problems and might provide courage to the market bear. The short seller needs a high profile failure to pick-up any downside momentum. Another hard leg down in Google would convince us that there is going to be a test of the March lows. If not, the bear will suffer as the stock fills the gap before heading lower.