Oops

It was just a month ago we were discussing all time highs for Google’s stock price.

Now Google has released earnings, prematurely …

“Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT,” the company said.

Now Google’s stock price is off $68, ~10%, and trading is halted.

So far, reports are that earnings are what they are expected to be.

Google Stock Rising

It’s about bloody well time. Google stock price is picking up from the low back in November 2008 near the $250 range to the current price just norht of the $400 mark.

The stock is above the rising 50 day moving average AND the descending 200 day moving average. If GOOG keeps this up for awhile longer (or at least maintains the current price level), then its good times ahead.

Maybe.

Or maybe not. The stock is well off its all time high near $750. Expect resistance near $410 as this previously represented support back in March 2008.

To be perfectly honest, this rally looks like a corrective up wave in a downtrend. Look at the price thrusts up – the previous up was about $130, the current previous up is closing in on the $130 mark.