Google Inc. might have breached the $600 level and currently floating comfortably above this level but the stock’s vulnerability has increased with the current market pulses. If Dow Jones keeps on dropping as if there’s no tomorrow, sooner rather than later the stock price will follows. Even though I’m still holding GOOG Nov 570 Call Option, somehow I’m undecided whether to let it go, take the money and run or let it takes its course with Google’s earning announcement scheduled on 18th Oct (that’s another 2 days on Thursday).
The first 5-minutes of trading this morning saw Google’s stock price testing the $612 support before regain consciousness and rebound thereafter. I’m pretty comfortable with its behavior although the Dow, Nasdaq and S&P500 seems to be in the red the whole morning.
On the other hand, I’ve taken new position this morning (just some minor contracts) on Apple Inc. by scooping AAPL Jan 2008 165 Call Option after the stock showed price-volume behavior which met my entry condition. Apple Inc. is expected to announce its earning next Monday, 22th Oct 2007. If you’ve invested Apple before you know that this stock is almost sure to beat earning estimate by Thompson Financial again. The only things that nobody knows except Steve Jobs is how well did Apple perform from other perspective which includes revenue growth, iPhone’s sales, inventories etc etc.
While the earnings season had started, it’s too early to jump into the boat (except for Apple and Google). Furthermore the stocks which interested me are not up the list yet. After Ben Bernanke said the night before that the slumping housing market remains a “significant drag” on the economy, I hope the Feds chairman has no more negative news in his list.
Other Articles That May Interest You …
- Inflation Risks – Stock Market split on Feds next move
- GOOGLE ready to blast off into the space of $700
- Made Money from two Apples, 134 and 52 Percent Profit
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October 16th, 2007 by financetwitter
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