Mark's Commentaries
Mar
10
2010
Bookkeeping: Restarting Google (GOOG) as Stock Breaks over Resistance and China Talks Progress
by Mark
Overall Rating:
It has been very difficult to find any worthwhile stocks to buy that are not extremely extended and on a 4 week warpath upward, but Google (GOOG) is a name that fits the bill. The stock has been weak ever since news broke of a potential pullout of China, but the stock has just cleared resistance
Since this is a much larger stock than we usually buy and hence less prone to fall 8% on a single session when the market pulls back, I will begin with a larger than normal stake of about 3.7%. Effectively buying stocks like Apple or Google is akin to buying the NASDAQ versus the relatively random nature of smaller cap stocks. Position was created just over $570; no particular target in mind - just trying to create some long exposure and this is actually a way to do it without wicked volatility.
Long Google in fund; no personal position
Since this is a much larger stock than we usually buy and hence less prone to fall 8% on a single session when the market pulls back, I will begin with a larger than normal stake of about 3.7%. Effectively buying stocks like Apple or Google is akin to buying the NASDAQ versus the relatively random nature of smaller cap stocks. Position was created just over $570; no particular target in mind - just trying to create some long exposure and this is actually a way to do it without wicked volatility.
Long Google in fund; no personal position
Tags: google | goog
