Friday, March 13, 2009

Bookkeeping: Short Google (GOOG)

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I am shorting Google (GOOG) with a 2.4% allocation for multiple technical reasons - essentially you have a stock that is (a) butting right up against the 50 day moving average and (b) making a series of lower highs and if this trend continues right about "here" is where the 3rd lower high would be. I am in around $323.


While everyone loves the NASDAQ I find it hard to love a company in an economy where the top 2 advertisers are autos and financials. That said I am happy to see my tax money splattered all over the internets in Citigroup and Bank of America ads.

Overall, I am about 65% cash as frankly I'm a bit exhausted from the market and its herky jerky ways. Some sideways action would do us all good - as I have been repeating for months the market has been dominating the individual stocks so most "bets" are about daily market direction (far more difficult) rather than individual stock direction. This short on Google is just a way to get some insurance since I'm leaning long overall.

Short Google in fund and personal account

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