Monday, November 07, 2005
Here is an updated daily chart of Google.
When I first talked about Google on this blog it was trading at about 220 and I mentioned that I initially had a 500 target for GOOG. It seemed crazy then but not so crazy now.
My current view is that GOOG will make it into the 425-475 range. As long as GOOG outperforms the market averages I see no reason to abandon long positions held as longer term investments.
Over the shorter term I think that GOOG will start trading sideways for awhile once it rallies into the 410-425 zone. The top of the current box is near 417.