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Latest | Highest ratedRunning 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
Why It's Time to Buy Google, Apple [View article]
From a fundamental point of view, no one is going to be buying iPhones and Macs as the economy tanks. No one will be purchasing advertising, either -- remember what happened to the Internet companies in 2000-2001.
From a technical point of view, the picture is even more bearish:
- AAPL has broken through an almost 6 year uptrend line about 2 weeks ago by more than 3%. That's enough for me to say watch out below. In addition, also about 2 weeks ago, AAPL broke out of a year-long symmetrical triangle (triangle-top). Last week, AAPL reached a low at $146.00 lower than the previous recent low of $146.53 in the middle of July. It looks like today's market action will easily take out those lows -- premarket currently at $142.08 as I type. Recent high of $180.45 was lower than the last high of $192.24 in April. Lower highs and lower lows mean DOWN TREND. This is not a good time to buy but probably a *PRETTY GOOD* time to sell.
On GOOG - it clearly broke out (down) out of a year-long triangle top a week or so ago hitting $406.38. This low has not been hit since October, 2006. GOOG is trading around a multi-year low. Not a good time to buy -- falling knife anyone? GOOG also has the same pattern of lower highs and lower lows -- DOWN TREND. I wonder if the author of this article ever picks up a chart book?
IMHO
nyc