Taking Another Short Shot
August 2nd, 2006 by BWV
Sold Google short today on this breakdown out of a huge triangle. It “should have” bounced at the bottom of this pattern with that hammer on earnings day.. That bounce failed miserably.
The stock hasn’t made a new high since January, and there are lots of folks underwater on their GOOG investment (almost anyone who bought since Nov 2005) probably looking for an exit.
I took a loss trying to short this thing in mid-June. This new setup is much cleaner. We’ll risk about 20 points, stopping out on a move back over $390-395.
Short GOOG
