Wednesday, February 01, 2006
The GOOG strikes back
Up about $1,700 today. I covered my 15 shares of GOOG at $389.70. Though this represents a quick $700 profit, it would have been a lot more if I had covered at $352, which is where the stock opened after being halted following yesterday's earnings announcement. However, by the time it was apparent that GOOG's miss was partly illusory (due to tax issues), it was too late; the stock had rebounded nicely. It seems that those people who are bright enough to quickly read a news release and assess whether the market's reaction is appropriate can, on average at least, make a lot of money. Unfortunately, yesterday I wasn't one of them.
Congrats Coach, very cool. It might of been hard to cover at 350 ish unless you are using direct access and you have after hours access and were very lucky. The 4:31 one min bar goes from 350 to 365.
You are too hard on yourself. No one can identify the exact bottom or top. It was a gutsy, smart move to short GOOG before earnings. You did it and were properly rewarded. Congratulations.Post a Comment