ShepWave Trading Opportunity in GOOGLE.. (goog)
by ShepWave.com
Posted: 4/9/2006 23:25 EST

It was just a couple of weeks ago when we highlighted a potential LONG position in GOOGLE (goog).  The trade has come within a couple points of our target of 419.  IT is now time to LOCK IN PROFITS.  You can do this by exiting position, putting in a stop/loss to ensure PROFITS, etc.

There is also a potential SHORT SIDE trade this week.

The 60 minute chart of GOOG above shows that our target for the RECENT LONG SIDE trade has come close to being hit.  The previous wave 4 of the five wave decline has been hit.  The Rules of Elliott Wave Theory tell us that that is a primary target. 

If GOOG breaks below 400 one can SELL SHORT this stock.  Keep 419 as a Stop/Loss or slightly higher if your risk tolerance level can handle it. 

I will Update in the Regular Updates (for subscribers only) trade management for this position if triggered.  ALSO.. One could buy some PUTS for GOOG.

Below I have copied the 390 and 400 Strike PUTS for Google for the Month of JUNE from Yahoo Finance.

390.00

GOPRR.X

18.70

1.50

18.30

18.60

123

1,551

400.00

GOPRT.X

23.10

1.60

22.50

22.90

133

2,111

Buying the above strike puts for JUNE should NET a nice profit.  Look for the SELL TRIGGER to be confirmed.  A double Break of 400 with the second breaking bar going  below the low of the first breaking bar would be a SELL TRIGGER CONFIRMATION.

Subscribers go to http://www.shepwave.com/ for detailed analysis on the Major U.S. Indexes.  ETFs, QQQQ, DIA, ETC.

To subscribe to ShepWave go to http://www.shepwave.com/services/

Subscription Rates are $60 for 90 days and $100 for 6 months.

We will maintain these cheap rates for as long as we can.  Our goal is to be atttainable to the most reluctant Investor/Trader and to HELP as many people as possible.

For last week's Blog Trading Entries go to these links.

http://www.shepwave.com/blogs/default.asp?bid=180

http://www.shepwave.com/blogs/default.asp?bid=179

http://www.shepwave.com/blogs/default.asp?bid=178

Thank you for your interest in http://www.shepwave.com/

Have a great day.

Shep