GOOG – Big Move Potential
I’ve day traded GOOG a lot in the past week. It’s got great volume and moves a lot every day. The beauty of it is that I can be wrong several times in it, taking small losses each time, and then catch one move and make back much more than I may have lost, even trading the same share size.
What I’m wondering, though, is after this huge run, can GOOG make more giant intraday moves like the high-flyers of ’99 and 2000? Having traded actively back in 1999 and 2000, I remember plenty of the triple-digit stocks which made $25 moves or more on a regular basis. Stocks like NSOL, SDLI, BRCD, QCOM and many others all made tremendous moves. Some more volatile days in GOOG like Monday’s reversal would leave me feeling a little nostalgic while the market chops around in this high trading range.
Is a 10% move in GOOG intraday out of the question? GOOG‘s biggest gain of the year came in October following earnings, but it was all gap. GOOG has only posted 5 days this year with a 5% gain or more. Perhaps it’s just a different animal than the high flyers 5 & 6 years ago, but I’m still on the lookout for more monster moves someday soon from the top dog of the NAZ.
Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com
Buck Woodford | Dec 23, 2005 | Reply
i did not realize GOOG had so few big up days. looking at the chart on TeleChart, i see your point..
lots of “creep” up days. which makes GOOG an unusual stock in my mind..
i love the typical “big move, pullback, a few narrow range days, and then trend resumption.” GOOG’s pattern does not fit that mold as well as most big winners.
maybe that’s why i have made minimal $$ on that monster in 2005. 🙂
’tis ok.. plenty of others.
merry christmas yall.