The Stock Is Falling Apart
GOOG didn’t even make an effort to respect the support level just above $190.
The stock gapped down to open at $188.25 today. Within the first ten minutes, the stock comes up to test the old suport level above $190. After getting rejected at that price level, the stock is down to $183.35 within the first hour of trading.
As I write this, GOOG has tested the $190 level again - and again was rejected. This intraday price action signals that the bears are in control for now.
As mentioned last night, I’ll be interested to see how the stock closes today - less than one hour from now.
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I purchased 48 shares of google open to public sale for $100.50. I want to place stop trail
of $145.50. Please comment, when should I sell?
Comment by RLPHMENDEZ — 5 Nov 2004 @ 5:05 PM EST
You’ll want to contact your broker for that information.
Comment by Anonymous — 6 Nov 2004 @ 9:38 AM EST