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xDCox

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Reply with quote  #1 

If you need a friend, don't look to a stranger,
You know in the end, I'll always be there.
But when you're in doubt, and when you're in danger,
Take a look all around, and I'll be there.

I'm sorry, but I'm just thinking of the right words to say.
I know they don't sound the way I planned them to be.
But if you'll wait around awhile, I'll make you fall for me,
I promise you, I promise you I will.

When your day is through, and so is your temper,
You know what to do, I'm gonna always be there.
Sometimes if I shout, it's not what's intended.
These words just come out, with no gripe to bear.

 


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fib_1618

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Reply with quote  #2 
How are you playing this xD? Are you still short from the $415 level or did you cover?

Fib




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xDCox

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Reply with quote  #3 

Quote:
Originally Posted by fib_1618
How are you playing this xD? Are you still short from the $415 level or did you cover?

Fib



So far I was trying to short the channel tops except that 415 level which I thought would be a retracement, but it wasnt. I covered that position on the option expiration day when Google hit a new high and close the day near the high.

I still hold the position from 428 which was my initial position posted here on Nov 25 http://forums.technicalwatch.com/tool/post/fib_1618/vpost?id=765468

 

At the moment I keep it simple: My line in the sand is the channel top. If GOOG close a week above the channel, that will be more than enough to stop me out, otherwise I will try to short whenever the top line is tested.

The most recent test was on Monday when GOOG hit 440 level which I could not short as I was away.

 

Some may think this is a sort of zero sum game but it is not. The stocks that are distributed along the long term top lines eventually drop rather dramatically. A gross example to this was EBAY last year.

Also AAPL is another potential candidate traveling along a major top line


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hpm123

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Reply with quote  #4 

XD - not that you need interference in your trading approach on GOOG, but here's a link of a guy that does quick free video updates , and this update he first discusses GOOG. Thinks it may be strong going into year end, but thinks move will be after first of year - if interested

 

http://www.tradethemarkets.com/video/ttm12212005index/ttm12212005index.html

 

 

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xDCox

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Reply with quote  #5 

The basic rule of drawing a trend is to determine the linear regretion line with the most tops or bottoms. That gives us the top line with 3 tops I draw. The only thing that can rule this out is another trend line with a minimum 3 tops or bottoms , which doesn't exist as far as I can see. The channel you defined on your chart has 2 bottoms.

 

 


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