Friday, January 20, 2012

Rally round the ticker, boys

There wasn't a lot for me to like in today's action.

It got started yesterday afternoon with another debacle where all the analysts got Google's earnings wrong again.  Why don't these guys get fired?

Then, today, all my stocks opened down and stayed there for most of the day, plus it was raining in Snellville.

But, into the close, their were a couple of things to get cheery about:

     >  ATPG didn't go down.

     >  COP and OIH went down, but just a little.

     >  DE was impressive, gaining a dime to close above $87.

     >  C was up smartly, but nothing C does in the near term means anything.

     >  GOOG, after it's initial whoosh! to damn near $560, settled down.

Bouncing off that bottom, GOOG rose at the open this morning to $591 and then stabilized around $586, where it closed. This doesn't feel like the ghosts of GOOG debacles past. I feel strength and resiliency in the stock.

Despite this setback, I believe we are entering a new range for GOOG. People are becoming aware that GOOG's relentless earnings, even when they disappoint, are lifting the tide that will ultimately engulf the price and carry it upwards.

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