Thursday, July 21, 2005

GOOGLE -- BUY BUY or BYE BYE?

All eyes on GOOG, I'm not going to make a prediction. BUT, I'm going to let you know that if you follow GOOG over the next few days on how it trades, it could be the tell on how overall market is going to do. Citigroup (C) has already made its move by trading lower, now we need a strong Tech leader to do the same. The reason why banking and techs are important tells is this: banking is 20% of S&P index and it shows money flow sentiment of the institution and tech went to 20% in 2000 and crashed but still have a huge following among both institution and retails a major psychological tell.

GOOG is trading down $20 after the initial pop, so we'll track its movement and see whether it's a BUY or a BYE!

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