Google (GOOG) Not Participating in Today's Kool Aid

Maybe Google (GOOG) will pull an Intel (INTC) and rally off a "better than expected" number - but I continue to be troubled by this chart action - on a day like today when Intel is pulling almost every tech stock up, Google remains moribund. I don't think Google has quite the same low expectations Intel had, so this sort of action makes me thinks "people in the know" are exiting stage right before the masses take a hit. I could (as always) be 100% wrong... but charts have a bad habit of not lying too often...



As for the general market - remember folks, as I wrote last week

expect the day to day action of the next few weeks to return to volatility after a very quiet past week. Each day the world will either (a) be ending or (a) the beginning of a new golden era ... based on a few bellweather earnings reports each day. All of it is nonsense and overreaction, but that's how the lemmings do thing

So today we are in situation b - the beginning of a new golden era...

Tomorrow or in 2 days we could be back to situation a - the world is ending... especially if we have a Google "miss". Volatility and 180 degree mood swings will be expected as lemming nation is out in force.

p.s. I am not even going to comment on this mornings inflation report! If you really believe inflation is 2.4% annualized I have a bridge to sell ya... the work of fiction coming from the government is truly insulting at this point. Hence I refuse to comment on it other than loud snickering. Remember, our import report showed last week imported goods are running at a 15% inflation rate - yet somehow 13% of that disappears by the time the government gets done with its magic.... but the lemmings say no inflation, so no inflation it is! Buy buy buy!