New All Time High

It has been about 5 years since Google’s stock price has been at this level.

As of this writing, the stock is at $748.95 (2:32PM EDT).

Now it is a matter if the stock can break through with conviction to new highs.

If so, then a retest of new highs would be expected (and appreciated by all the break out traders that might miss the first move).

Google Down Facebook Flat

Unless you are living under a rock – and even then – you know that Facebook went public today under the ticker FB.

Facebook was priced at $38, opened at $42 and never saw that price again.

Not sure if that is a great sign for Facebook’s stock price – barely able to close above the $38 price.

Google’s stock never gained any traction today.  Bumped up a bit in price early, peaked at 11AM, then all downhill from there closing down $22.65.

Google Stock Going Mobile

Google announce 3Q2011 financial results.

Revenue was up 33% versus the same period last year – closing in on the $10B mark for the quarter.

Lot of emphasis on mobile.

CEO Larry Page said that the total number of Android devices activated worldwide is 190 million (and growing).

As you might expect, GOOG stock price has responded favorably, up over $32 (5.80%) as of this writing to $591.

Stock Up After Google Announces

That’s what happens when you announce earnings and revenue that exceeds expectations.  Of course, the opposite is true, we just won’t go there today …

As I type, the stock is up 12.08% +63.90 to 592.84.

We could get into the financial side of stuff, but lets talk about Google+.  Yes, that’s Google with a plus sign.

Google’s making a big push to be more social.  Or at least get you to spend more time with Google then with Facebook.

While I haven’t involved myself with Google+, a number of people I know have reporting that some of the Google+ features are an improvement over what Facebook offers.  In particular, the “circle” ability for your friends.  You can create groups, i.e. – circles, of friends.  Something you can’t readily do with Facebook.  Do you really want to tell all of your friends (which might include your dear old grandmother) about your drunken debauchery last night.  I didn’t think so.  Google+ lets you communicate that type of sensitive information to the group of friends that you want to.  Sorry Facebook.

If Google can get you to stay more on their site(s) and less time of that other site, I would expect that to impact the bottom line.

Google+ still has a big hurdle … until my wife mentions Google+ I think Facebook will rule the social wave.

Google Earnings Disappoint Again

This is getting to be a bad habit.

Google stock price is down $40 as of this writing to $538.13.  Google announced earnings of $8.08 per share.  In the fickle world of the stock market missing the $8.11 for a high flying stock like Google can be the kiss of death (see today’s stock price for proof).

Who cares if revenue is up 17% versus the same time period last year or that heavy spending on new hires occurred.

Google Testing $600

Google stock is once again approaching a century mark in price.

This is a far cry from a year ago when the stock price sunk to lows in the $250 range. Now the stock is teetering on the brink of breaking $600 – again to the upside.

It will be interesting to see what happens when (not if) $600 is broken.

GOOG Stock

GOOG price closed at the high for the week. As a matter of fact, the stock closed at it’s highest level since October 2008.

Are we in for good times?

While the stock and the overall market has performed relatively well since last fall’s low, the overall move up has lacked … shall we say, a little “ummhh”.

The rally off of the low looks more corrective in nature than anything else. The rallies and declines are overlapping with no decisive breaks to the upside or downside. Still, the price movement is favorable for building a base to higher prices. At the very least, it looks like the downside momentum has slowed.

The 38% Fibonacci retracement is near the $437 mark – a price Google is not far from. A price – on a closing basis – that corresponds with the support of March 2008.