GOOGLE: Is It Time to Go LONG?

Previously on Long and Short Investment, there was an article on how we should be SHORTING GOOG with a tight stop when it was slightly above $625. We came to this decision by using a fundamental and technical analysis on the GOOG stock. Since
then, GOOG has nicely retraced back and surpasses its 20 day moving average at $607 and is headed toward its 50 day moving average. I think 50 day moving average is as low as GOOG is going to come down at this time.  However, I ended up exiting our SHORT position on GOOG at $594 today, netting 5% profit.  I will be considering LONG position on GOOG with another tight STOP-LIMIT if it reaches 50 day moving average early next week, as it will retest its resistance level once again. I will be keeping a close eye on its upward support line along with the 50 day moving average. If GOOG continues to decline beyond its support line, then the odd would favor even lower prices so let's be careful.

Other Articles:
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How Would You Trade GOOG to Lock in Profit?

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