Google is at an inflection point in price both at the 50 day moving average and the $800 century mark, it can rebound with another leg up to get back to all time highs at $840 with all the earnings expectations for future products like Google glass and Google fiber or it could correct back to the 200 day moving average at $717 with current holders taking profits and rotating to a new stock or sector. With the current price action either target is possible. While the current down trend under the 10 day sma and the loss of the 50 day line has me trading bearish (I am holding puts) I will switch to bullish if we can close above the 50 day line. I am not going to try to predict what will happen, I do not know what the actions of all the market participants will be over the next month. I will instead use the 50 day now and then the 10 day line as my GPS to follow this stock whichever way it chooses to go.I want to be on the right side of a 50 point move in the stock it makes me no difference which way it goes.
