GOOG - Long or Short......?!
- Thread starter tradesmart
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To answer my own question.....
SAN FRANCISCO (CBS.MW) -- Shares of Sina Corp. rose more than 21 percent in after-hours trading Tuesday after the Internet services company reported a 24 percent jump in third-quarter earnings on higher revenue from advertising and mobile-related services.
At last check, shares of Sina (SINA) traded hands at $34.25, up 21.5 percent, from its regular session close of $28.19. Sina is the leading Chinese Internet portal and online media company. Beijing-based Sina reported net income of $14.5 million, or 27 cents a share, compared with $11.7 million, or 21 cents a share, last year.
SAN FRANCISCO (CBS.MW) -- Shares of Sina Corp. rose more than 21 percent in after-hours trading Tuesday after the Internet services company reported a 24 percent jump in third-quarter earnings on higher revenue from advertising and mobile-related services.
At last check, shares of Sina (SINA) traded hands at $34.25, up 21.5 percent, from its regular session close of $28.19. Sina is the leading Chinese Internet portal and online media company. Beijing-based Sina reported net income of $14.5 million, or 27 cents a share, compared with $11.7 million, or 21 cents a share, last year.
Naz
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Sorry i missed your post G man.
SINA is a Chinese Internet stock.Stocks closely associated are NTES and SOHU.
However if one wanted to one could bracket these stocks closely with other Internet stocks that may at times act in sympathy and this could include the likes of Ebay and Google.
I trade more than one stock at a time so that i dont get bogged down if something doesn't move as well as i would have expected.
Below is a SINA trade from yesterday,a slow grind that made $1.10 profit.
SINA is a Chinese Internet stock.Stocks closely associated are NTES and SOHU.
However if one wanted to one could bracket these stocks closely with other Internet stocks that may at times act in sympathy and this could include the likes of Ebay and Google.
I trade more than one stock at a time so that i dont get bogged down if something doesn't move as well as i would have expected.
Below is a SINA trade from yesterday,a slow grind that made $1.10 profit.
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nicolas500
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Google just closed above $193.00. Given the trend, I would not be surprised to see an attack on the huge $200 level, tomorrow. What do others think?
tradesmart
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No slow grind on the GOOG Naz......
Multi - dollar moves every day with over $7 up from the open price in the last three sessions and an incredible $21 on Monday.........!?!
Still hovering in space above the $13 gap, and now forming an apparent bull triangle that seems poised to attack $200…….
GOOG not a shortable stock currently, which must account for much of it’s incredible bull run from the $85 IPO….. 😕
(at least it's not shortable/borrowable on my account (IB) - I'd be interested to hear if anyone has an account that allows shorting GOOG......)
Multi - dollar moves every day with over $7 up from the open price in the last three sessions and an incredible $21 on Monday.........!?!
Still hovering in space above the $13 gap, and now forming an apparent bull triangle that seems poised to attack $200…….
GOOG not a shortable stock currently, which must account for much of it’s incredible bull run from the $85 IPO….. 😕
(at least it's not shortable/borrowable on my account (IB) - I'd be interested to hear if anyone has an account that allows shorting GOOG......)
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nicolas500
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tradesmart said:
You can spreadbet Google with Deal4Free so that would be one way of shorting.
tradesmart
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Thanks Nicolas! - I should have said "anyone has a direct access account that allows shorting GOOG"
I gave up spreadbet/CFD a long time ago as a very bad habit, and that is the advice I would give to others.... 😉
Regards...
I gave up spreadbet/CFD a long time ago as a very bad habit, and that is the advice I would give to others.... 😉
Regards...
Naz
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I see Google is trading in the triangle shown.
The pullbacks at times in the chart shown are to fib levels and ONE of the fib extensions if it breaks out to the upside is just about $200.
When i was trading GOOG the other day a message came up on my direct acess screen that said Google was now available to short.However I just checked it and it now says its on the hard to borrow list. I'll check things out in trading hours later today.
The pullbacks at times in the chart shown are to fib levels and ONE of the fib extensions if it breaks out to the upside is just about $200.
When i was trading GOOG the other day a message came up on my direct acess screen that said Google was now available to short.However I just checked it and it now says its on the hard to borrow list. I'll check things out in trading hours later today.
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Perrington
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Support 199 resist 200 LOL hope your all wearing your helmuts 🙂
tradesmart
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Naz
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This is just my own personal thoughts many will have different ones.
In 2000 we were playing $200 stocks and and nobody gave it a second thought.Then as things fell anything that in later years went above $100 seemed to have a share split.So there hasn't been as many high priced stocks in recent years for people to get interested in and test their skills.
As day traders we need things that are going to move.Isn't the reason that were trading Nasdaq stocks because they move more than most and this gives us our opportunities. Well Google is one of those stocks.Up 100% in 8 weeks.
To me what one needs to do is to change ones mind set when trading higher priced stocks.If a $200 stock moves $9. isn't it the same as a $20 stock moving 90c.If you like taking 2000 share positions on a $20 stock then maybe you trade 200 shares in a $200 stock.The movement is going to be larger and therefore you need to change the way think about trading it .
At the end of the day you trade stocks that you feel comfortable with. If you find something going to fast then you move down to a less steady moving stock.If your stock is boring and not moving you you can move up and find something with a little more action.At the end you find something that fits your own comfort zone.
In 2000 we were playing $200 stocks and and nobody gave it a second thought.Then as things fell anything that in later years went above $100 seemed to have a share split.So there hasn't been as many high priced stocks in recent years for people to get interested in and test their skills.
As day traders we need things that are going to move.Isn't the reason that were trading Nasdaq stocks because they move more than most and this gives us our opportunities. Well Google is one of those stocks.Up 100% in 8 weeks.
To me what one needs to do is to change ones mind set when trading higher priced stocks.If a $200 stock moves $9. isn't it the same as a $20 stock moving 90c.If you like taking 2000 share positions on a $20 stock then maybe you trade 200 shares in a $200 stock.The movement is going to be larger and therefore you need to change the way think about trading it .
At the end of the day you trade stocks that you feel comfortable with. If you find something going to fast then you move down to a less steady moving stock.If your stock is boring and not moving you you can move up and find something with a little more action.At the end you find something that fits your own comfort zone.
Naz
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This is the way i saw the GOOG move yesterday i'm sure others saw it differently.
It broke out of the triangle pre market and ran for the psychological $200 barrier which as i mentioned was also a fibonacci extension. Anyone not using pre market charts would have just seen a gap.
Any evening run is normally going to start at approx 19.00 (2pm est). So the shooting star at 18.45 and lower high at 19.10 gave the start of the move.A trend line break from 17.45 to 18.50 would also have been an early indicator of the strong move down.
(An intra day t/a scanner like the one owned by Aboudy Nasser is a great way to find shooting star's after a rally.) pm me if you want details.
It broke out of the triangle pre market and ran for the psychological $200 barrier which as i mentioned was also a fibonacci extension. Anyone not using pre market charts would have just seen a gap.
Any evening run is normally going to start at approx 19.00 (2pm est). So the shooting star at 18.45 and lower high at 19.10 gave the start of the move.A trend line break from 17.45 to 18.50 would also have been an early indicator of the strong move down.
(An intra day t/a scanner like the one owned by Aboudy Nasser is a great way to find shooting star's after a rally.) pm me if you want details.
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Trader333
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Naz,
I fully agree that the reason to trade Nasdaq stocks is because they move. I dont agree that Google was a good stock to trade on Friday and this has nothing to do with the value of the stock because in my model of trading I am never over exposed to the market regardless of stock price.
My concern was the speed at which, wherever you may have decided to enter, the market would rocket up by $1 or down by the same in almost the same bar which your chart cannot show. Even accounting for Level II play entering this stock on Friday evening was a pure gamble in my view.
We both know that with many other stocks that make large moves it is possible to use Level II to determine optimum entry and exits and this just wasnt possible in the above case. There may have been other days when it was but Friday wasnt one of them. Anyone entering with a 1000 or 2000 share position could have found themsleves up $2000 in a few seconds but they could also have found themselves down by the same amount in the same time scale. To me this was not a high probability trade and for that reason I would not trade it.
Paul
I fully agree that the reason to trade Nasdaq stocks is because they move. I dont agree that Google was a good stock to trade on Friday and this has nothing to do with the value of the stock because in my model of trading I am never over exposed to the market regardless of stock price.
My concern was the speed at which, wherever you may have decided to enter, the market would rocket up by $1 or down by the same in almost the same bar which your chart cannot show. Even accounting for Level II play entering this stock on Friday evening was a pure gamble in my view.
We both know that with many other stocks that make large moves it is possible to use Level II to determine optimum entry and exits and this just wasnt possible in the above case. There may have been other days when it was but Friday wasnt one of them. Anyone entering with a 1000 or 2000 share position could have found themsleves up $2000 in a few seconds but they could also have found themselves down by the same amount in the same time scale. To me this was not a high probability trade and for that reason I would not trade it.
Paul
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I agree with Naz these stocks are perfectly playable, but I would add some experience and capability is necessary.
One element must, as he says, be adjusting position size to control $ risk when they are so highly volatile. Another is stepping back the time frame, e.g. looking at 15 min candles. Yet another is thinking about the overall situation, e.g. the pre-market rush to the critical $200 level and the later attempts to breach it all failed those tests, so the probability of profit taking increased sharply. And how about the gap players wanting to close it?
Of course there are people who happily say that news doesn't matter. I don't agree, the reaction to the news does matter and is often tradeable and I make a good third of my income from the way I play them.
As for GOOG last night, hey, didn't the Nana Netlife story have an influence? Didn't the news probably cause the late sell off?
In my view, you need an integrated thoughtful approach and then even the wildest of stocks become readable and tradeable.
Richard
One element must, as he says, be adjusting position size to control $ risk when they are so highly volatile. Another is stepping back the time frame, e.g. looking at 15 min candles. Yet another is thinking about the overall situation, e.g. the pre-market rush to the critical $200 level and the later attempts to breach it all failed those tests, so the probability of profit taking increased sharply. And how about the gap players wanting to close it?
Of course there are people who happily say that news doesn't matter. I don't agree, the reaction to the news does matter and is often tradeable and I make a good third of my income from the way I play them.
As for GOOG last night, hey, didn't the Nana Netlife story have an influence? Didn't the news probably cause the late sell off?
In my view, you need an integrated thoughtful approach and then even the wildest of stocks become readable and tradeable.
Richard
Trader333
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It wasnt the sell off that concerned me late on it was prior to that when, if you had gone Short, at one point you would have been down nearly £2 and then it reversed again. I agree that stocks such as this can be traded but for the majority of aspiring traders it will kill them and we have plenty of evidence to show that to be the case. In this particular case the Level II screen and Time and Sales were not giving adequate readable information to determine whether to go Long or Short.
All I am really trying to say is that it looks a lot easier after the event than it really was in realtime and for that reason would be extremely difficult for the vast majority of traders. Naz has already said that there will be different views and I just happen to have one with regard to this stock.
Paul
All I am really trying to say is that it looks a lot easier after the event than it really was in realtime and for that reason would be extremely difficult for the vast majority of traders. Naz has already said that there will be different views and I just happen to have one with regard to this stock.
Paul
Thanks for the web address of the scanner Naz.
Must say it's a good looking/easy scanner and charts.
Won't please some because of the lack of indicators on the charts, but that's not what a scanner is about is it.?
Just registered, so will be following with interest over the next few days.
Now you have given me a bit of background on it, I
can also see why you didn't post the link on here 😉
Must say it's a good looking/easy scanner and charts.
Won't please some because of the lack of indicators on the charts, but that's not what a scanner is about is it.?
Just registered, so will be following with interest over the next few days.
Now you have given me a bit of background on it, I
can also see why you didn't post the link on here 😉
Naz
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Paul and Richard,
Interesting to read to your views and both make valid points.
I was first introduced to high priced stocks by a US trader in Vegas. At the time i was happy trading stocks up to $80.When i first saw him trading them i thought wow! whats going on,how can you trade that.
He helped me look at the whole thing differently.
If a high priced stock has a daily range of $10 plus then its hardly going to pussy foot around taking it nice and slowly for me,because its got a lot of ground to cover. Hence the large swings are natural,so get used to it.If its going to swing $2 in a wiggle then trade with a position size that that wont get you running for the toilet.
Learn your stocks personality and manage your position in a way that fits that stock.If trading it hurts to much then move down to a cheaper stock and gradually build back up to the more expensive ones.After a while i found the speed and swings felt natural and therefore became easier to trade.It was just a case of getting the feel for it.
just some thoughts.
Naz
Interesting to read to your views and both make valid points.
I was first introduced to high priced stocks by a US trader in Vegas. At the time i was happy trading stocks up to $80.When i first saw him trading them i thought wow! whats going on,how can you trade that.
He helped me look at the whole thing differently.
If a high priced stock has a daily range of $10 plus then its hardly going to pussy foot around taking it nice and slowly for me,because its got a lot of ground to cover. Hence the large swings are natural,so get used to it.If its going to swing $2 in a wiggle then trade with a position size that that wont get you running for the toilet.
Learn your stocks personality and manage your position in a way that fits that stock.If trading it hurts to much then move down to a cheaper stock and gradually build back up to the more expensive ones.After a while i found the speed and swings felt natural and therefore became easier to trade.It was just a case of getting the feel for it.
just some thoughts.
Naz
Trader333
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Naz,
Thanks for your reply, I am interested to know if you were you able to discern anything useful from the Level II screen for this stock ? The reason I ask is that I (personally) wasnt able to although I know you use Level II in a different way which may have allowed this.
Paul
Thanks for your reply, I am interested to know if you were you able to discern anything useful from the Level II screen for this stock ? The reason I ask is that I (personally) wasnt able to although I know you use Level II in a different way which may have allowed this.
Paul
