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mohan0805
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SR System Analyst Active Trader Swing Trades Day Trades Technology/Biotech/Financial Stocks
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  • Google Stock Heading To $650-$700 In Short Term. 0 comments
    Oct 13, 2012 2:45 AM | about stocks: GOOG

    Google stock has gained as much as 30% in past 3 months from $570 in July to $774 in October and looked very Bullish to cross $800.

    As per latest news US Regulators are moving closer to sue Google on alleged abuse of search dominance. Google might be forced to settle multiple competitors if they are found guilty.

    Also during weekend or early next week Google has to decide if they have to settle the patent case with VRINGO(NASDAQ:VRNG). It will be deadly for Google to go to the trail. If Vringo wins the case,Google will end up paying anywhere between $500MB-$1.5B depending on the royalty rates awarded.

    I expect Google shares going down short term to $700 and below. It is great idea to short Google shares now to $700 and below. May be buying options(puts) will be great idea.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

    Stocks: GOOG
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