Google Stock Quote

Revenues of $3.21 billion for the recently ended quarter on 31 December 2006.

Other points of interest (to me) are:

Google Sites Revenue up 80% from the year ago quarter, 62% of total revenue

Google Network Revenues up 50% from the year ago quarter - Adsense programs - and makes up 37% of total revenue.

If I am not mistaken, the revenue is in the ballpark of estimates, lets see how the stock reacts.

Edit: Watched after hours trading and seeing that the stock is down, some prices were printing the $485 range.

Also, looks like employees get the chance to sell …

We currently anticipate that we will launch our employee transferable stock options (TSO) program in the second quarter of 2007. Because all outstanding stock options granted under our 2004 Stock Plan after our initial public offering to employees other than our Executive Management Group will be modified to allow selling under the program, we expect to incur a modification charge in accordance with GAAP of approximately $90 million in the second quarter of 2007 related to vested options as of the end of that quarter and a charge of approximately $160 million over their remaining vesting periods of up to approximately four years related to unvested options.

GOOG earnings 4th quarter

Pause for a moment and reflect on today’s price bar. what do you see? An inside bar.

Is anybody really suprised with this? You shouldn’t be. The fact that today’s price range is within yesterday’s price range indicates “indecision". Since there is effectively no trend in the stock for the last week of trading, then I am expecting a breakout from this price range. Why would there be indecision - tomorrow’s earnings report, of course.

I just did a quick skim of the news around GOOG’s expected earnings and I have to say that there appears to be no room for error. Google is being set on a pedestal that some day will not support the price valuation that gets heaped on this stock. Until that occurs, enjoy the show.

I’m not excited yet.

Yes, Yahoo had good news on the earnings front and the expected good news bounce for YHOO is taking place. And GOOG is and has been in the past sympathetic to YHOO’s price moves…

Look at the price level that GOOG bounced off of - near the $480 level. The $480 level is where the stock found support for about 3 weeks in late November / early December 2006. That same price level is where the stock found resistance in late October / early November 2006.

If we discount the recent news, then the recent price action isn’t so surprising. GOOG is testing the support/resistance levels previously established. I *suspect* the stock is getting ready to wind up for the earnings announcement which is expected on 31 January 2007.

By the way, in my last post I mentioned looking for an inside bar setup. That occurred with last Friday’s inside bar. Traders would have sold short on Monday’s break of the low (or the low preceding the inside bar). As it stands right now, the trade would not be profitable - of course, this depends on your trading time frame. Day traders would have been whopping it up.

Don’t tell me you didn’t see that. That’s right - a nice, well formed double top at $513 with a reversal bar to the downside.

Will the bears come out of hibernation? I mentioned that I didn’t like the run up - and in particular that gap up on “news". Is there enough mojo to push this stock through the $513 level with conviction?

It is not much of a surprise that the stock sold off after pegging the previous all time high. The next few days price action should be telling. Large range days with the close less than the open bodes well for the bears while non-committal, lazy range trading days would likely see higher prices in the not too distant future. My preference for a trade setup is to wait for a inside bar and / or a narrow range bar then go with the breakout above or below the previous bar. I’ll make sure to comment when such a day appears.

I hate this game. Someone has some “favorable” comments about a particular stock - Google, in this case - and the price runs up.

I’m all for making money on this stock and yes I have a long position, but come on, do we really need to encourage higher prices by way of “positive Wall Street commentary". And do you really need to reiterate a buy rating? I don’t think so.

Instead, we have a stock hovering just below an obvious support/resistance price, $500. The stock gapped up this morning with all the encouragement and now is hovering around that magical half millenium number. A close above the $500 mark might just get the bulls all excited while staying below $500 is almost a perfect setup for the gap getting filled.

Those are my thoughts based on observation. Don’t believe anyone, including yours truly.