This is a really timely video because of what happened in GOOG last night. I had thought GOOG would see a breakout above its range (thus it's one reason I used it as the subject of the video) and thought $1,000 would be the perfect psychological number, the mind gravitates to whole numbers and centennial marks, $1000 is a big one and where did GOOG hit today? However I didn't think $1,000 would be a reasonable target, now it clearly is.
I recorded this video Sunday October 6th and was talking about using short term leveraged long positions for the move up I was expecting and you know the reasons I was expecting it (as is also made clear in the video). The idea was to use some leverage on long positions until we get above resistance areas where retail would buy as that was out target short zone for long term positions with no leverage, you'll hear at the end of the video as you may remember me saying, "There are hundreds of these", I'm just using GOOG as a proxy.
Beyond the video, I'll be checking out GOOG, but the point here is much broader in scope.
The two days in white are Oct. 4th and Oct. 7th, I recorded the video October 6th on a Sunday, but this expectation had been with us the previous week ending with October 4th.
This is the range I thought tis market move would push GOOG through above the range is our target area for long term trend or Core short positions.
These are the same two days (10/4 and 10/7 with the video recorded 10/6) on GOOG's chart, I think the 3C observations and the time (3 days) after them are VERY interesting as well.
If you have questions about any of this, email me.
Here's the link to the original post.
Here's the YouTube link to the video
And there should be an embedded video player below, if not just go to the YouTube link.
The video is just under 8 minutes long, but I think an important 8 minutes.
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