Quick Take: Google’s Thrashing Offers Trade Opportunity

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.


Your comments and emails are welcome.  Readers can contact me directly at andrew@seeitmarket.com or follow me on Twitter on @andrewnyquist.  For current news and updates, be sure to “Like” See It Market on Facebook.  Thank you.

Position in GOOG at time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.

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