My bet is that the market has set a short term bottom and Goog seems to be a good play at least through the next 6 weeks and so I will start my SocialPicks position at this point. Long term I really like Goog and expect it to be a good performer. I thought it would follow the broader market and held back waiting for a bit of a fall. It did just that falling from the 520 range to the 420 range. The last two days, it has jumped as the market tries to set a nice bottom with the full support of the US government beneath it. Realistically, on this Saturday during these crazy times, this continues to be a bit of a gamble as who knows what will happen over the course of the weekend, but I'm betting that short term momentum continues and the ban on shorts remains in tact through the elections in November and so Goog has some good days ahead. Make no mistake about it, Goog will follow the broader market, but if we are turning, then I think it will outperform on the way up. Realistically, I wouldn't invest the money until Monday AM but SocialPicks is lower down my priority list and so I need to make these calls a bit more out in front.
$454.13 (09/20/08)
