GOOG Update

Although the case for a GOOG bounce  (which is only the minor part of the story as I'm looking for a bounce to short in to or add to shorts) is not as strong as it was several days ago as it has suffered some damage to its charts, there are still enough to suggest it's the highest near term probability.

I'm not changing anything with the GOOG April Put position as I don't see that as being in any trouble from a bounce, in fact it would likely help the Put situation with a bigger, faster move to the downside and the GOOG equity short stays in place, although I'd like to add to that at higher prices if possible.

 The trendlines in the immediate vicinity that matter, the up trend is already broken so is the minor head fake level, it's the $775 level where things get ugly. I'm hoping to see GOOG somewhere in the $825+ area, however I would NOT trade GOOG long, while probabilities are one thing, high probabilities are the only trades I want to take.

 GOOG 5 min positive

 10 min with a relative positive moving to a stronger slightly leading positive

 Basically the same on the 15 min as the 10-min above.

 However this is the trade I'm looking at, the hourly chart deeply leading negative so any chance to sell / short in to price strength in my view, is an absolute gift and this is where the high probability trade is.

The 4 hour chart just confirms how bas the situation is, this could drop like ORCL, the point is fear is picking up, I doubt it's a slow reversal and rend down, when fear hits, it hits hard. Fear is by far the most powerful emotion in the market.