Tuesday, December 2, 2008

Goog Fibs

Market has been acting strong. Take a look at GOOG for a potential long. Here are the fibs from the IPO to the peak.

A closer look.

Usually a test of a trendline breaks on the 4th or 5th time. GOOG is approaching 20 DMA for the 5th time in recent weeks. I like it long but with a weak hand.