GOOG - Long or Short......?!
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tradesmart
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The GOOG still making some good moves every day and I’m glad that it still has ‘up’ days as I still can’t short the b’stard (on IB)……
Making a very large (apparent) bear triangle just now, and the huge chasm of a gap under to $150 just crying out to be filled, but today’s gap down has created a gap above $180 which will very likely be filled first imho……(but I note the huge sell volume today…..)
Reason........
Perhaps I’ll be able to borrow some soon……..
Making a very large (apparent) bear triangle just now, and the huge chasm of a gap under to $150 just crying out to be filled, but today’s gap down has created a gap above $180 which will very likely be filled first imho……(but I note the huge sell volume today…..)
Reason........
Perhaps I’ll be able to borrow some soon……..
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nytetrader
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I'm not overly eager to jump on the Google bandwagon so quickly. They seem to be loosing market share by the day. Too bad they didn't go public a year or 2 ago.
tradesmart
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Just when it seemed like the GOOG was about to tank bigtime and fill the gap due to the massive stock overhang, Goldman Sachs very suddenly initiated coverage this week with a $215 price target and First Boston, not to be outdone, with $225 – probably both holding a mega-tranche of the stock….
The expression “bent as a nine bob note” comes to mind…… :cheesy:
or maybe even "pump'n'dump"......
Or is that just me being cynical…..
Whateverway, it looks like GOOG is a ‘buy’ (for now…..
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roguetrader
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Oh tradesmart, your such a cynic! LOL
nytetrader
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I wouldn't touch it with a ten foot pole. In fact, I'm kind of surprised that people are still talking about it.
tradesmart
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A stock that is making multi-dollar runs on many days, and moved up virtually $20 in a week recently is bound to get talked about, and guess what, even *traded*......!?....
Looks like the GOOG is winding up for another attack on $200 to give some credibility to the analysts research notes.....and a breakout could easily put $210/$225 etc etc in the sights early in '05 imho.....
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Naz
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I know from a few chats i've had that some t2w members that read but dont post are into GOOG intraday......and i dont blame them.
As someone said on the thread, GOOG posts multi dollar moves daily,anyone with a standard margin dyatrading account has enough money to trade 500 shares.Just a one dollar move makes you $500.
GOOG has slowed a bit compared with what it was.It's doing classic day trading moves and fib'ing all over the place.It's using whole numbers a lot and many intra day t/a patterns.
IMHO,If you put it on your watch list and study it daily you'll gradually notice the things it does.It pays to know your orders rather than use a brokers own "smart order routing" so that you can manage your position well.Otherwise you have no true control over whats happening and the nervousness of that will subconsciously cloud your trading decisions.
Naz
As someone said on the thread, GOOG posts multi dollar moves daily,anyone with a standard margin dyatrading account has enough money to trade 500 shares.Just a one dollar move makes you $500.
GOOG has slowed a bit compared with what it was.It's doing classic day trading moves and fib'ing all over the place.It's using whole numbers a lot and many intra day t/a patterns.
IMHO,If you put it on your watch list and study it daily you'll gradually notice the things it does.It pays to know your orders rather than use a brokers own "smart order routing" so that you can manage your position well.Otherwise you have no true control over whats happening and the nervousness of that will subconsciously cloud your trading decisions.
Naz
knucklehead
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could well be on the money
There is a gap between 170 and 150 that will be filled once it falls. Major support 150 area.
But if it puts in a lower high it's a low risk short, given the publicity lots of scared buy and holders will be left holding the baby as usual!
see chart for climax top, good sign for shorts!
There is a gap between 170 and 150 that will be filled once it falls. Major support 150 area.
But if it puts in a lower high it's a low risk short, given the publicity lots of scared buy and holders will be left holding the baby as usual!
see chart for climax top, good sign for shorts!
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Mr. Charts
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Very nice indeed, Naz.
I picked up a $1.40/share profit on GOOG this afternoon myself, and in under one minute !
This is developing into a nice little mover and a readable one ;-)
Richard
I picked up a $1.40/share profit on GOOG this afternoon myself, and in under one minute !
This is developing into a nice little mover and a readable one ;-)
Richard
tradesmart
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Mighty strange boast from a coach when a lot of days you can hang on in there for an hour or so and pickup a $5 run (or more) - a $6.40 run up from the open yesterday in 45 mins…!!!
“Looks like the GOOG is winding up for another attack on $200” I posted with chart calcs backup 27/12/2004 when the price was $187.90 – closed above $200 yesterday….
I see the trading coaches are always keen to tell us about the great trades they’ve done as a retrospective – how about a few predictions for the future price of a particular stock based on Level 2 interpretations (or even chart setups….) …??
Might be interesting and useful.....
GOOG going for $215 now imho – chart attached
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knucklehead
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Google has third failed attempt to break $200 and make it a new support level !
Two of them were lovely bull traps that someone fell for, at a top volatility increases (daily range widens).
The stock is looks to be in a stage 3 (topping)....but if it goes sideways could build another base and stay in stage 2.
Next comes the awesome .... stage four ...... Fear !!! and you know what that means ! Sell,sell,sell !!!
Look out below !
Two of them were lovely bull traps that someone fell for, at a top volatility increases (daily range widens).
The stock is looks to be in a stage 3 (topping)....but if it goes sideways could build another base and stay in stage 2.
Next comes the awesome .... stage four ...... Fear !!! and you know what that means ! Sell,sell,sell !!!
Look out below !
knucklehead said:
Not sure about that, think short term problem only as call option purchasers (check Jan ratios) get screwed prior to expiry. Remember there's a lot of shares to free up from the lock-up and results due on Feb 1. Wouldnt' it be a surprise if they knock it out of the park, again. Agree no reason to go long at the moment though.
Mr. Charts
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Hello tradesmart,
My remark was not a “boast”. It was a comment for Naz and several people I know who trade GOOG intraday.
It is not everyday that you get a $1.40 move in seconds so it was worthy of comment, imo. Perhaps this is simply a matter of perception. What you see as a “boast” is to me merely being factual. When you are right, it is nothing to be proud of, when you are wrong, it is nothing to be ashamed of. It is simply the business of trading.
Now you actually ask why don’t I predict what is going to happen before it does and write on this BB.
My approach is to trade what I see happening or about to happen, not what I “predict” “should” happen. If the trade doesn’t pan out, I will simply exit. Sometimes after an initial move in my favour it will turn against my direction and I’ll exit for a small profit or a scratch trade. Very occasionally a trade might go against me immediately after entry and I will exit for a small loss. In other words, my trades are managed according to what is actually happening, not my opinion of what “should” occur.
In fact I trade intraday off set-ups which are then triggered by certain factors. The trade is then taken immediately and there is no time, or reason, why I should post them on here. Decisions are taken instantly once the criteria are fulfilled. That is my own style of trading and I know it suits many others. Of course there are also plenty of people who prefer other styles.
However, very occasionally I put brief comments on threads doing exactly that.
I suggest you read my posts 70-76 inclusive on this very thread to see what I mean. You would find that if you were to use my methods on level 2 and T&S that is as much as you could possibly post as you are trading in active moving situations that require quick decisions and executions. This is very different from swing or position trading when there is all the time in the world to write posts.
As for gaining a $6.40 move, you will find when you trade for real, rather than paper trade as you say you do earlier in this thread, real life is not actually like that. Such possible gains are fine to point out in retrospect, (which is meaningless), and do occasionally happen, but most of the time the gains are much smaller. For me personally, a very high success rate and consistency are what real trading for a living is all about on a day to day basis. What works for me is to take pieces out of moves, not to plan to catch the extremes of moves, though that does happen sometimes with my techniques anyway. That approach may not suit others.
Having said that, this particular coach showed 150 people at a recent symposium the screen shots of entry and exit of a $8.44/share profit on one trade I did.
Now, sir, if you look at my post 69 on this thread you will see me showing a chart swing set up (which I didn’t trade as I always exit by market close) which broke down LATER THE SAME DAY and then fell $25 in TWO days.
Now please look at my post 80 and you will see what I mean.
Why did I show that set up BEFORE it triggered?
Because I know there are many good people on this site who swing trade so I offered up to them what seemed to me like a no-brainer BEFORE it happened. I saw the situation and tried to be helpful by alerting members.
I do hope that answers your questions, sir, even though they were rhetorical.
BTW, very well done with your prediction of a breakout – that was an excellent post.
I would never suggest to YOU that your post was a boast.
Did you actually trade it, may I ask?
When you make the transition from paper to real live trading I’m sure you will be successful – many of your posts are, imho, very sensible.
Thank you for your interest and contributions to this thread and indeed for starting it.
I really do mean what I say in this paragraph - genuinely and sincerely.
Good trading.
My remark was not a “boast”. It was a comment for Naz and several people I know who trade GOOG intraday.
It is not everyday that you get a $1.40 move in seconds so it was worthy of comment, imo. Perhaps this is simply a matter of perception. What you see as a “boast” is to me merely being factual. When you are right, it is nothing to be proud of, when you are wrong, it is nothing to be ashamed of. It is simply the business of trading.
Now you actually ask why don’t I predict what is going to happen before it does and write on this BB.
My approach is to trade what I see happening or about to happen, not what I “predict” “should” happen. If the trade doesn’t pan out, I will simply exit. Sometimes after an initial move in my favour it will turn against my direction and I’ll exit for a small profit or a scratch trade. Very occasionally a trade might go against me immediately after entry and I will exit for a small loss. In other words, my trades are managed according to what is actually happening, not my opinion of what “should” occur.
In fact I trade intraday off set-ups which are then triggered by certain factors. The trade is then taken immediately and there is no time, or reason, why I should post them on here. Decisions are taken instantly once the criteria are fulfilled. That is my own style of trading and I know it suits many others. Of course there are also plenty of people who prefer other styles.
However, very occasionally I put brief comments on threads doing exactly that.
I suggest you read my posts 70-76 inclusive on this very thread to see what I mean. You would find that if you were to use my methods on level 2 and T&S that is as much as you could possibly post as you are trading in active moving situations that require quick decisions and executions. This is very different from swing or position trading when there is all the time in the world to write posts.
As for gaining a $6.40 move, you will find when you trade for real, rather than paper trade as you say you do earlier in this thread, real life is not actually like that. Such possible gains are fine to point out in retrospect, (which is meaningless), and do occasionally happen, but most of the time the gains are much smaller. For me personally, a very high success rate and consistency are what real trading for a living is all about on a day to day basis. What works for me is to take pieces out of moves, not to plan to catch the extremes of moves, though that does happen sometimes with my techniques anyway. That approach may not suit others.
Having said that, this particular coach showed 150 people at a recent symposium the screen shots of entry and exit of a $8.44/share profit on one trade I did.
Now, sir, if you look at my post 69 on this thread you will see me showing a chart swing set up (which I didn’t trade as I always exit by market close) which broke down LATER THE SAME DAY and then fell $25 in TWO days.
Now please look at my post 80 and you will see what I mean.
Why did I show that set up BEFORE it triggered?
Because I know there are many good people on this site who swing trade so I offered up to them what seemed to me like a no-brainer BEFORE it happened. I saw the situation and tried to be helpful by alerting members.
I do hope that answers your questions, sir, even though they were rhetorical.
BTW, very well done with your prediction of a breakout – that was an excellent post.
I would never suggest to YOU that your post was a boast.
Did you actually trade it, may I ask?
When you make the transition from paper to real live trading I’m sure you will be successful – many of your posts are, imho, very sensible.
Thank you for your interest and contributions to this thread and indeed for starting it.
I really do mean what I say in this paragraph - genuinely and sincerely.
Good trading.
TheBramble
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Richard, there may well have been 150 people in the room, but how many were awake?Mr. Charts said:
As AndyB over on Tactical Trader says (and HE was in the room...) marking the presenters out of 10....
"Richard Joyson = 1
Boring presentation - i nearly fell asleep. I think Richard should stick to his 1-2-1 training because he is obviously a very clever and successful day trader and has alot to offer - but this was painful "
And it was a Saturday - not a live trade (deja vu....)
Looks like they may have found it a little hard to swallow...too. But I wasn't there...or was I?
Richard, there's a BIG difference between coming up to the plate and predicting what you think is likely/possible./probable to happen - as did TradeSmart - and quite another to claim virtually all your 'killer winning trades' in retrospect.
Perhaps I'm the only cynic on this site...
tradesmart
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Hello Mr C (and Brambs..... )
You followed up 6 days later giving an explanation of what you really meant, but confusingly, referred to the wrong post (#70)
Post #70 was a one line gem:-
Do you run scared at the first downtick (uptick)……?
Your broker must love you with the commissions that you’re earning for him…..!
GOOG is a stock that makes multi-dollar runs on many days – wouldn’t you be doing your prospective ‘pupils’ a greater service by developing/extolling/explaining a trading style that seeks to capture these much more lucrative moves on a regular basis….?
You wouldn’t have attracted my attention if I didn’t suspect that the majority of your posts are a sales pitch for your ‘coaching’ services - if the trading is going so well, why coach...?
Apologies for being blunt..........
)Could you point us in the direction of this mysterious post please..?…the only paper that I touch from trading has $$$$$ printed on it……
Yes – you showed a triangle, and we all know that a triangle on the charts will break one way or the other – you didn’t offer any target or direction making it seem a rather meaningless observation….
You followed up 6 days later giving an explanation of what you really meant, but confusingly, referred to the wrong post (#70)
Post #70 was a one line gem:-
Wow,and followed up with details of 32c/17c/71c/22c trades….!
Do you run scared at the first downtick (uptick)……?
Your broker must love you with the commissions that you’re earning for him…..!
What and why not? – I think that you’re coming close to admitting that you’ve got no system for locating the bottom and top of a run which coming from a “coach” seems highly suspect……!.......is it really rocket science.....?
GOOG is a stock that makes multi-dollar runs on many days – wouldn’t you be doing your prospective ‘pupils’ a greater service by developing/extolling/explaining a trading style that seeks to capture these much more lucrative moves on a regular basis….?
You wouldn’t have attracted my attention if I didn’t suspect that the majority of your posts are a sales pitch for your ‘coaching’ services - if the trading is going so well, why coach...?
Apologies for being blunt..........
Salty Gibbon
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Now now chaps.
Mr Charts is to be commended for wasting ( sorry, spending ) his valuable time posting on these boards.
Mr Charts is to be commended for wasting ( sorry, spending ) his valuable time posting on these boards.
