GOOG at $500
It had to happen. After flirting with the $500 mark a few times last week, the stock price broke through the $500 mark and did so quickly and on high volume. Check the intraday chart to see what I am talking about.
In theory, the sky is the limit. With so many people loving this stock, the stock can only go up … right?
Every so often, I like to throw out this picture: QCOM
I’m not going to have the gloom and doom discussion on this stock yet. We will revisit this idea at a more appropriate time. Until then, this is just a gentle reminder that most good things come to an end.
Getting back to the present, the price at the end of the day should give us an indicator if the stock is ready for a “Santa Claus” type rally.
