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Point & Go Figure: GOOG, AVY, BZF, ERTS, MERQE, Major Index Overview

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If you would like a chart reviewed, let me know here.

I have added text and illustrations to the charts where necessary.

All charts courtesy Dorsey, Wright & Associates.

Mini-Minyan Point & Go Figure Mailbag:

Kevin,

I was watching "Around the Horn" on ESPN and Woody Paige, one of the participants, recommended that everyone buy Google (GOOG)!

This coincides nicely with your price projection of 384 sometime back. Today's high was 383.90. GOOG may have seen a short-term high. What do you think?

Minyan Shashi

Google (GOOG)
The chart of GOOG completed a shakeout pattern in early October and has since rocketed higher. The long column of Xs higher leaves no "risk alert" level based on a point and figure pattern. In other words, there is no nearby stop loss level based on a sell signal. The column looks a bit like the long column of Xs from the April breakout. The equivalent move would project GOOG to 420 now. I have no idea if that happens, that is simply a comparison based on the last breakout.

Avery Dennison Corporation (AVY)

Brazil Fund Inc (BZF)

Electronic Arts Inc. (ERTS)

Mercury Interactive Corporation (MERQE)

Major Index Overview

S&P 500 (SPX)

Dow Jones Industrial Average (DJIA)

Nasdaq-100 (NDX)

No positions in stocks mentioned.

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