Google Quarterly Earnings
I have been waiting to post this message about Google’s earnings.
Rather then make a comment about how the stock reacted to the impressive quarterly earnings that Google posted, I decided to wait to see how the stock reacted over time before making any comments.
You see, it’s one thing for a stock to react favorably like GOOG has done - and then quickly fall out of favor when the news is out. But it is a sign of strength when a stock doesn’t give back the recent price gains.
And that’s exactly what Google’s share price has done.
It’s held up near at the new all time highs - forming what looks like a new base at these higher price levels.
This is particularly encouraging for higher prices considering that the overall market has been in a funk recently. Overall, the market has been down, while Google has been up.
Now if we can get the overall market to start moving higher, then maybe Google will get a jump at even higher prices. Even if the market doesn’t participate in a rally, Google tends to march to it’s own drummer.
