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Strategies & Market Trends : TA setups-ex th traders

DIA 476.41

-0.4%

Dec 9 4:00 PM EST

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To: CraftBrew who wrote (5388)	1/22/2005 5:08:14 PM
From: cthruu	Read Replies (2) of 7682

My take on GOOG: Triple top at 203-205is in place. They have sold off GOOG hard after the failure at resistance. This hourly chart shows that the 200 bar MA did not hold yesterday and the gap at 180-182 is calling. The gap and 50-bar MA at around 195 becomes stiff resistance. GOOG ATM straddles (185 strike and 190 strike) are somewhere in 19-20 range. That is a lot of investment. ttrader.com Directionally the downtrend is now set. Earnings are on Feb 1, when they will probably gap and crap the sucker. I'd rather look for a directional trade; scalp bounce from the gap and a short after the earnings. If i were to straddle I'd go in one leg at a time. We will see :)

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