02Jan1:45 pmEST

Going Short a Premier Name; Chess Moves

kate-bosworth-sexy-chess-straw-dogs With today's weakness, I am picking on one of the premier issues in the Nasdaq and the entire market--Google. I went short GOOG at $524.41, playing for a breakdown to fresh 52-week lows. The position is roughly 4% of my trading capital, with a protective stop-loss above $540. In order for the short to work well, GOOG likely needs to lose $523, below, or the 20-day moving average area. GOOG has been like many other marquee names of late--Many traders are aware of the sluggish action but there is a sense of company that it is all one, long bullish consolidation. I am testing out the other side of that thesis with this trade. Put more simply, the stock is in a downtrend and I am playing for more downside. Earnings are scheduled for the end of this month, and I will cover before then, either way. GOOG

Still Looking for the Duck o... We All Have it Coming, Kid; ...

 
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