Friday, February 03, 2006

GOOG Slumps Toward $330

I'm in North Lake Tahoe this week, and all the Googlers (employees of GOOG) ditch work and spend a week up here once every year. I saw a lot of them around Squaw Valley, and by my estimate the average age at the firm must be 19. The slopes are full of millionaires that can't legally buy a beer.

Anyway, GOOG is down nearly $100 from its lifetime high, set just a few weeks ago. Here's the intraday chart showing the disintegration:

Fibonacci retracements suggest the next stopping point will be around $330.


Anonymous said...

Trader Tim, you are far too kind. My near term target for GOOG is around 270. Let's hope super bull trader sold his GOOG position for a good profit because bulls make money, bears make money but pigs get slaughtered.

Anonymous said...

I see it as being 360.

Anonymous said...

I say 350 next stop in two to three weeks

Why ? I did my DD