Monday, April 18, 2011

The Daily Note - It's GOOG, Once Again.

It's really good to know that at least some had/have integrity at Google. I am referring the the story published by Business Insider regarding Sergey Brin, who appearantly threatened to quit because he disagreed with the majority leadership buckling to China's demands of censorship.

I know what Google allowed cost suffering for quite a few dissidents in China even before that 2009 incident. Which is why I wrote my article, "Google On My Mind" back in 2009.

I think integrity is honorable and I applaud Brin for speaking out against China's policy. I'm also not surprised that Eric Schmidt disagreed with Brin, when considering his favored stance and current position in government.

All that information may not have anything to do with Google's immediate woes on the markets but consider that perhaps it does give a picture about where Google is headed. Be it indeed a HAL born or will Brin's legacy keep it from trespassing upon us? A question indeed of integrity and the forever fight between freedom and tyranny. Yes, once again, Google is on my mind.

I will not quit trading them once again, since I have been trading them since and will continue to do so. But what also prompted this story is that I have once again examined their chart, and found that, just perhaps, there is more to the (hi)story as we lay it out on a longer time frame. Which, in this case is a monthly chart. Simply stated, GOOG may indeed have a recovery act hidden up its sleeves in the long run. Take a look at the monthly chart below and compare it to the dailies I've posted on to get the full picture.

I do not want to get anybody's hopes up because indeed it's a long time frame yet I may not have come upon this outlook had it not been for a question tweeted to me by someone caught on the wrong side of earnings. Reinforcing the philosophy that no question deserves to be ignored, since it will lead one to discover new views ahead.

$GOOG looks on this monthly at a juncture. Breakdown and failure of a reverse/inverse head and shoulder pattern, or it will bounce and continue with a breakout to challenge the previous high. This question makes for the current $527 hold even more crucial for the long run.

Happy Trading, Living and Dancing

The Daily Pick - $GOOG

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