GOOG Update

Yesterday's late day GOOG calls meant for a very short term move up (5/10 $800) are at about a 10% profit this morning, I'd like to get a bit more out of them and it's still very early in the day, I'm going to have to take a much closer look at Leading Indicators and other indications before I decide whether to take the profit and decide whether or not this is the area I want to continue filling out the GOOG short equity position (or start new ones) .

For now, here's what we have, mostly short term charts as this was intended to be a short term trade ( a day or so), the thing about short term charts is they can change pretty quickly and an afternoon move is sure to come, it's figuring out from here which way that is most likely going to be.

 5 min chart has lost some of its momentum...

The 2 min intraday chart doesn't look good, but this is a timeframe (intraday) that can swing around fast, I'm not expecting GOOG to get healthy, I'm just trying to figure out whether it can sputter a bit higher before giving up the ghost.

The weakness of the 2 min chart hasn't migrated to the 3 min chart yet so it's somewhat contained, it's more up to the 3 min chart right now as to which way the 5 min goes, does the 3 min have enough strength to push the 5 min higher or no?

The longer term 60 min shows clearly why I wanted to short GOOG in to price strength, first we'll need to answer the call question and then we'll likely be close to our second answer.

I'm checking Leading indicators, futures and currencies now.