Is Google a victim of the market fall or is Google causing the market drop?
This giant won't tank, but boy is it falling hard. Am I reading this right? $418.35 Remind me where we were around Christmas time. There was a reason to be happy during the holiday season. Google was priced at over $700.
Should we have guessed that from November to December, we were witnessing a lateral move by Google? The drops never last long. 3 months at the most. But the scary part is that not only is it falling....it's falling fast. We just fell below the 200 MA in early February.
We may see a rebound sometime this week. Whether or not that happens, the stock looks like it will still drop further. If it drops to $380, like I predicted earlier, I'd be worried. And what if it drops to the 2006 lows of the $200 range?
Though Google's a strong company, I don't see it hitting hits high mark of $750 for another yr or more. The stock dropped from $700's earlier this yr just as fast as it flew up in September of 2006. I think that was a fluke. It didn't follow the trend. When the normal trend that has formed during the previous 3 yrs comes into play, I think we may see $650. Depending on how much further it drops in the next couple of months, $650 may not look familiar again for another couple of yrs. Hmmm......I hope I'm wrong.
No comments:
Post a Comment