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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Chaz who wrote (141207)	2/10/2007 12:39:13 PM
From: Henry J Costanzo	Respond to of 209892

Good morning, Charles....Hope your also enjoying the heat spell we're having down here today...all the way up now to 25F...vbg Re GOOG...FWIW...per my "style"...based on my TA voodoo plus some personal quirks...I would not buy until/unless I got a turn signal...which for me would be a break above the very short downtrend line drawn from the Feb 1 high through Friday's high.. There are a couple of negative things showing up on the chart here..Price has fallen...significantly enough...below the 50dMA...and the 50d MA itself has turned down...not by a helluva lot yet...but down..Add to that the fact that last week's pullback broke below an uptrend line from the mid-Oct low and the Dec low..On the positive side, price has still not undercut the Dec low...and looks like it could be forming a potential bullish rectangle consolidation. Those negatives IMHO not yet serious enough to prevent a reversal around here..Could be the case that a turn in the broad market...as I am looking for over next few days...could lead to reversal in GOOG. If not, then I would say a fall to support as low as the 200d MA (and also the small mid-Oct congestion) cannot be excluded...and that would be at around the 430 level..