Thursday, October 16, 2008

READER'S REQUEST - Google (GOOG)

Playing earnings is a tricky proposition in this market. GOOG just happened to be my first earnings play this year. If you want an overview of Earnings Trading, I created a PowerPoint (free, PDF) located to the left in the "Past Commentaries" section. I went long GOOG at approx. 3:12PM and 3:46PM at $341.55 and $340.00, respectively.

What was the bottom line? It was that fact that GOOG was getting bid up so far and so fast within the last 15 minutes, it gave some clear guidance to which direction it'll move next. I also analyzed a 6-month chart and like almost everything else, GOOG formed a double Adam-Adam bottom. In addition, the massive volume was a no-brainer. People were buying this stock like crazy. That's it! No guessing, no reports to read, no fundamentals, no "hot tips" from friends. Technical analysis told me everything I needed to know.



GOOG Q3 2008 Conference Call Transcript

Disclosure: I am long GOOG


Don't forget to try out the Free Trend Analysis. It's FREE, so give it a shot!

3 comments:

Tradermarketinfo said...

Another Great call from John today, as soon as goog filling it's opening gap. John was confident going LONG GOOG into earnings, saying that a gap down tomorrow is very unlikely and I followed. I swear to God i'm soo freaken lucky to get to know John in today's Market. I mean come on, if anyone out there is still listening to cramer they are all losing their shirt already. I'm sure many of you have read some Technical analysis blog who advice people to trade penny stocks, and those people are wrong 80% of the time but still claim theyself up double digits YOY. But John is the real deal I have been tracking his records he is not 80% of the time but 90%. He gave me confident today to hold GOOG into earnings and I'm glad I did. Thanks to you John.

~In John we trust~


Tradermarketinfo-

Anonymous said...

Hi John,
Can you give some input for ISRG? Thanks

John C. Lee said...

done -reader's request