Buying Google Alphabet in Anticipated Market Weakness
I will look to accumulate GOOG if the overall market continues down this year (as I expect it to do).
See above chart (as of end of day 3/25/20) for reference.
Green targets represent areas of accumulation should GOOG trade down that low.
My Quick View:
Google will continue to dominate search and search advertising in the decade to come. Google's ability to harness data related to its search, advertising and email customers will keep it in prime position to be a leader in AI and machine learning development in what is expected to be a decade of rapid technological innovation. Like TSLA, GOOG is a long term buy for me. With anticipated market weakness in the coming weeks, months or longer, there may be some great opportunities to purchase GOOG at a price point that will provide great odds for a big rebound, or at the very least, a good buy entry to hold for years to come.
Overall Market View: BEARISH
STRATEGY: Buy dips in GOOG during overall market weakness. Look for GOOG to rebound faster than the overall market.
NOTE: With this accumulation strategy (strategically adding position during market weakness), I don't like to trade with leverage (borrowed money). With no risk of a margin call, you can't get yourself into too much trouble. If you do have to face some heat (a trade that goes against you), you'll just have to wait out the trade (note, this type of trading works best on strong stocks that temporarily trade lower in weak markets - I also like AMZN and TSLA as an example of strong stocks poised for future success).
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NOTE for any beginners or intermediate traders:
Don't take advice from others to influence your trading decisions.
Always do your own research!
Begin trading with a simulated account.
If you are a beginner, you have no idea how much you don't know yet.
If you are an intermediate, you think you have learned a lot, and you have, but this new and exciting knowledge is only a scratch of the surface. Be patient, you have more to learn yet, you'll see.
See above chart (as of end of day 3/25/20) for reference.
Green targets represent areas of accumulation should GOOG trade down that low.
My Quick View:
Google will continue to dominate search and search advertising in the decade to come. Google's ability to harness data related to its search, advertising and email customers will keep it in prime position to be a leader in AI and machine learning development in what is expected to be a decade of rapid technological innovation. Like TSLA, GOOG is a long term buy for me. With anticipated market weakness in the coming weeks, months or longer, there may be some great opportunities to purchase GOOG at a price point that will provide great odds for a big rebound, or at the very least, a good buy entry to hold for years to come.
Overall Market View: BEARISH
STRATEGY: Buy dips in GOOG during overall market weakness. Look for GOOG to rebound faster than the overall market.
NOTE: With this accumulation strategy (strategically adding position during market weakness), I don't like to trade with leverage (borrowed money). With no risk of a margin call, you can't get yourself into too much trouble. If you do have to face some heat (a trade that goes against you), you'll just have to wait out the trade (note, this type of trading works best on strong stocks that temporarily trade lower in weak markets - I also like AMZN and TSLA as an example of strong stocks poised for future success).
---------
NOTE for any beginners or intermediate traders:
Don't take advice from others to influence your trading decisions.
Always do your own research!
Begin trading with a simulated account.
If you are a beginner, you have no idea how much you don't know yet.
If you are an intermediate, you think you have learned a lot, and you have, but this new and exciting knowledge is only a scratch of the surface. Be patient, you have more to learn yet, you'll see.
Comment:
TYPO in above ("See above chart..." date should say 3/25 not 2/25)