GOOG Follow Up

Friday I posted this about an add to in the GOOG equity short to bring the position to full size,
I had no way to know that Friday night after adding to the short position, executive chairman Eric Schmidt went and announced the sale of 42% of his Google holdings.

I don't care what the reason they say it's for, the fact is, the one reason it is not because of is his conviction the stock is going higher.

The Friday night release is an old political trick, whatever bad news has to be released with minimum damage, do it Friday night as almost no one is paying attention.

In any case, here are the updated charts for GOOG...

 Here we are, the day was the red arrow, a move above resistance and a new high, that creates retail demand, but even I admit there wasn't much and nothing resembling follow through.

 The daily chart makes the longer term 'Core Short" strategic case pretty clearly. AAPL had similar signs like this as it was making new highs just before it dumped.

 The 15 min chart leading negative on the move to a new high, this is part of the way we confirm a head fake move.

 The 10 min chart also leading negative at the same area.

And the short term 3 min chart which can easily confirm the new high if there's support in underlying trade, again another way we confirm head fake breakout moves. If you feel safer, there's a small triangle and waiting for a break below the triangle and the former high, now support, would give a decent signal and not be too far from a stop above the recent highs with plenty of profit potential still in the trade idea.