Small Profit Taken on GOOGLE last Friday

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Jul 16 2007
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If you’ve been reading FinanceTwitter blog for the last couple of months, you would notice that I’ve been trading just a handful of stocks, preferring the option, repeatedly again and again. To some of you it’s rather boring but to others, it could be quite easy and no-brainer. There’re particularly two stocks which I love to invest namely Apple Inc. (Nasdaq: AAPL, stock) and Google Inc. (Nasdaq: GOOG, stock), simply because the U.S. stock market is relatively more efficient compare to other regional stock markets.
I mentioned relatively efficient because I can find stocks which tend to follow the basic technical rule of support and resistance. Investing based on these two rules could be one of the easiest methods to some of you, including me. And so, I’ve taken profit yet again on Google last Friday. Although it was a small profit (about 16 percent for 1 week period), the way Google defying gravity makes me very nervous, so much so that I sweared I wouldn’t regret even though the stock will register new high. As of this morning’s trading, you can see how Google passed the $550 per share without much hiccup (to which I was thinking of kiicking myself for disposing of the positions).

How can this stock keep on flying, considering that I’ve locked in the profit just on June 22th, 2007 to which I blogged at Locked Profit on Google – 20 Percent for 5-Days Trading? This doesn’t make much sense but then this is Google we’re talking about. Indirectly it gives me a creepy feeling on how the stock will perform comes the earning announcement day later.
Nevertheless, this is a classic technical chart behavior which you should take advantage of by going in and exiting from it “fast”. You got to be fast and never be greedy as if it choose to tumbles, there could be blood all over the street. So keep the contract or position small but watch out for any sudden price reverse. I’m watching my Apple very closely now – isn’t the performance awesome?

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