I had two theories about GOOG, near term. It's beginning to appear that one of those theories is correct: "750 and beyond". The current troubling of the broader market may qualify this assessment a bit, but GOOG has, so far, been unsusceptible to such troubles. And why should it be? Contrary to the popular surmise, advertising goes up in bad times, not down. "What, GOOG worry?"
As I blog, GOOG is up a point. The broad market is tanking again. But it's early yet. My guess is, we weather this rough spot and resume chugging again.
Which is not to say that a day of reckoning has been declared illegal in this stock. But it will come from its own excesses and not those of others. Chastened by my premature profit-taking at 650, I will not be quick again to dilute that precious resource that is my GOOG position if it achieves anything as piddling as "fair value".
Over 800, I will think about lightening some more, but not before. In this respect, I am fearless.
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2 comments:
Anyone greedy will be burned on this stock.
Where are the sales and profits to justify the price of $700 a share?
This company isnt Birkshire Hathaway....
Thanks for your chastening comments - all three of them.
Check back with me in a year.
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