GOOG and Analysts

I found an article interesting reading on GOOG and analysts, as you know GOOG has already been a core short position in the equity model portfolio, I was hoping to add a bit more to it and still may, however, here's what is interesting.

Of 44 analysts covering GOOG, 82% have a BUY rating (the others are SELL/HOLD), the highest target was $910, the lowest $660. We've been watching GOOG and other than price action which clearly has undergone a change of character in the last month, it was the underlying 3C trade that enticed me to open GOOG short. I'll say right now, my target is quite a bit lower than $660! A simple 5 day chart with a few years of history shows you that $660 is nothing in perspective.

For an interesting read, check out YESTERDAY's (Wednesday's) GOOG update!!!

The GOOG daily charts...

 Negative and positive divergences in 3C since 2007.

Note where price topped in 2007 and where it recently topped and then compare where 3C is at each area, right now it is in a leading negative divergence at new lows, even below the 2009 bottom!

As I showed earlier today, parabolic moves tend to end badly...