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My analysis says:
Sep 23 08:40 am
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All Comments by nyc_917 »Running the Numbers: Google Looks Like a Buy [View article]
- Never buy a stock trading near a multi-year low unless it is in a clear upswing. GOOG is trading around a 2-year low.
- Lower highs and lower lows say GOOG is in a down-trend. I will not buy until I am sure that trend has changed direction.
- Remember what happened during the last downturn - 2001-2003 when internet companies who depended upon advertising as their primary revenue stream tanked?
- Last time I looked, the broader market was still in a down-trend. I would not look to pick up bargains until this fact changes. What is "cheap" now may get *MUCH* cheaper in the coming weeks and months!
nyc