timwest
Short

Google Inc -GOOGL-Daily -Rolling over - Targeting 550-545

NASDAQ:GOOGL   ALPHABET INC
436 3 4
Google             Inc not only failed to make an all time high along with the market, but now it is rolling down from a level where buyers were supposed to be there ready to support the stock . The green line shows you key quarterly support and resistance for GOOGL             . Above the green lines, be bullish . Below the green lines, be bearish .

The market is weak today, but GOOGL             is weaker. The relative strength of GOOGL             to the market has rolled over quite a bit.

Also in the news today - you hear stories that GOOGL             denied that they might want to buy companies like EBAY             (trading at ONLY 2 times sales, while GOOGL             trades at 6 times sales) alerts me that we are in a tenuous situation where earnings and revenues have to come from acquisition and "mark-up" from buying earnings and sales. The earnings gains in the market overall have come from stock buybacks and leveraging the balance sheets of corporate America. The oddity is that companies are buying back their shares at elevated prices instead of soaking up shares when they are trading cheap. Stock buybacks historically are bullish , but only when prices are down.

Good fortune to us all.

Tim 3:10PM EST 9/12/2014 Friday
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2use
2 years ago
SP targeting lower, google can go lower, apple is going sideways...tesla seems to have a lot of gaps to cover and at top price now - is it all going for some correction?
+1 Reply
timwest PRO
2 years ago
Now that GOOGL has fallen back under the green key-line, retested it and rolled over again, I believe it is confirming it is in a downtrend from here. 579 last. 10/1/2014
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2use timwest
2 years ago
I see we are in for something large. When timwest posts short charts on google, nflx, pcln thigs go red :)
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