Friday, February 26, 2010

GOOG looking like a good short


One of my new Custom indicators measuring price/volume relationships showing weakness in GOOG

A daily chart of 3C and an extended long range 3C in blue-both showing negative divergences in GOOG or distribution.

Despite any bounce attempt, this looks like a decent short today.

This am's trading action

This morning's trading range as of 10:02, a break above or below it usually determines which way the market will close for the day.

5-min 3C showing selling into yesterday afternoon's Buy Trade Program


Another 5-min 3C showing the same with a negative leading divergence this morning.


Here's  1-min chart suggesting that price will rally from support or at least try at least once more

*Update
The Trades I'm especially liking-whether you got in already or are looking to include:


CYMI
KLAC
UGP
GOOG
GS
DGP

All from last night's list

TRADES FOR THE 26TH ARE UP

There are longs and shorts in there, some interesting plays as well considering the market's Buy program that hit around 1:45-I think it was filling a gap, but tomorrow we'll know more. In any case, it gives us better short positioning.