Google Stock Quote

Don’t recall if this has happened before or not for Google’s stock - going through two century marks in one calendar month.

Google goes through the $600 mark on 8 October 2007 and through the $700 mark on 31 October 2007.

Kind of like a blue moon.

Hopefully for those holding long positions in GOOG, we won’t see the stock go through 2 century marks on the downside.

As I write this post and look at the daily stock chart for Google, I can’t help but notice that the stock has been on an almost uninterrupted rise in price for more than two months. In mid-August 2007, the stock briefly pierced the rising 200 day moving average ~$490 and then started marching higher. Even the few down days in early September look like a tiny blip on the proverbial radar screen. Today’s price near $670 is 40% higher than the low from two months ago.

Want to know something? This is nothing. Go look at an all time chart (since 2004) for GOOG and tell me what you see. Or let me tell you what I see.

Just using my eyeballs, I see that Google stock doubled in price in 2004. Keep in mind that GOOG went public in August 2004. In 5+ short months, the stock doubled from $100 to $200.

Guess what happened in 2005? That’s right, the stock doubled again, from $200ish to over $400.

2006 was a lackluster year for Google. The stock price effectively did nothing, the beginning of January 2006 the stock was near $420, by the end of the year the stock was at $487, up a measly 16%.

2007 year to date is up about 38% - certainly better than 2006, but behind the gains of 2004 and 2005.

Based on previous price history, anyone want to bet that we haven’t see anything yet with regards to GOOG’s price appreciation? I’m not crazy enough to think that the stock can keep repeating the doubling of stock price every year, but my trading experience indicates that stock price movements can go well beyond what is “reasonable” - reasonable being a term I use loosely.

Finally, Google hit $600 exactly in the AM on 8 October 2007.

You can almost smell it, Google’s stock price at $600.

Those round century numbers act like a magnet. Today’s and yesterday’s large range bars look like a sprinter heading for the finishing line - the $600 per share finish line.

Don’t act too surprised when GOOG hits $600.