Tuesday, March 2, 2010

Smart Money

The smart money, which is to say the guys who predicted the Dow would go to 5,000 in 2008, is now saying that GOOG is destined for 480 soon.

Yesterday's action made me think that we have seen the near term low at 520. Today's action - up 9 plus - makes me think I'm right. If GOOG closes strong (9+), I'll be reasonably certain of it.

The smart money doesn't see it that way.

5 comments:

Larry Blumen said...

With vigor, GOOG reached 545 (+13) by midday, but succumbed to profit taking into the close (541.06 +8.37). So the future direction for GOOG, near term, is uncertain.

Resia said...

Is online business smart money too?

Larry Blumen said...

Resia: not for me - I haven't monetized "The Google Opinion", but some people make a lot of money with their blogs.

Larry Blumen said...

It looks like the smart money was wrong this time.

Larry Blumen said...

In the fulness of time, every right thing is wrong, and every wrong thing is right.