Quick Take: Google’s Thrashing Offers Trade Opportunity

Andrew Nyquist
By Andrew Nyquist
Google (GOOG) feels like it is in a bit of free fall today, so please note that this trade idea isn’t for everyone.  With today’s drop, Google has fallen roughly 7% in 4 days and is nearing clustered support between 615-620 (chart has typo “615-6120” should read 615-620).
Note as well that GOOG is on bar 4 of a 1-4 bar negative reaction to a DeMark daily sell set up.  I have taken a position in Google and plan to add around 615-618  as long as my approx 612 sell stop isn’t taken out.  This is a VERY short term trade idea and not for the faint of heart.  Provided I do not get stopped out, I will look to close this trade out within a few days.
 

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Position in GOOG at time of publication.

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