Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Slagle who wrote (65716)	6/30/2005 10:49:45 AM
From: Moominoid	Read Replies (1) of 74559

GOOG: We're doing wave 4 of 1 of A down in my opinion. A likely goes to the previous support at $267. Then it could go back up again. Actually I am looking for a massive head and shoulders formation with the left shoulder and head in so far. In this scenario we are in an E-Wave flat correction. But the final C wave is twice the length of the first A down. The B wave would take us to the $300 range again, but not exceeding $309. We will see.... The "FA" is that the momentum players will give up and move on and then.. .kaboom.... that's what happens in H&S formations... Final target is $225. IMO that's not a bad valuation for GOOG. High, but not unreasonable.... Probably things will quickly enough get unreasonable again though :)

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