12 December 2007

12-12-07 : GOOG fell out of up channel

GOOG fell out of my up channel, and thus I will sell any GOOG call.

I would have cut loss @ 708 area. when it fell out of the channel. I would not have seen my call go all the way down till 699. Thus once again, my channel strategy has proven to be a good cut loss method.

I am still somewhat hopeful GOOG will go to 740. This may just be a slight retracement. Whatever it is, until it get back to the channel, I will not touch it.

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