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Two Ways: Google Expects New Chrome OS to Shine

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Strengthen your portfolio in good times and bad.

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Google's New Chrome OS Coming

Google's (GOOG) thorn in Microsoft's (MSFT) side just got bigger. Google, owner of the world's most-visited search engine, said on its official blog that it is introducing a new operating system based on its Chrome browser called the Chrome Operating System.
The new OS is an open source system that will have key features of speed, simplicity, and security. It is being targeted for netbooks for now and won't be available to consumers until the second half of 2010.

For trading context, Toddo mentioned Google yesterday in Randoms: Of Shoes and Clues.

From the Bull Pen: For bulls, these pullbacks are buying opportunities especially for best-of-breed, high beta companies like Google. One option is to fade (read: buy) the stock into the $385-380 range with a sell stop below that level.

From the Bear Cave: Does this spell the end for Mr. Softie? Not likely, and it's not THE invitation to short the stock. But as far as a downside play, bears can look to the broader Nasdaq 100 ETF (QQQQ) for a short term trade. A tight buy stop can be set above $35.50.

Quick Check Around the World

Asian trading closed with the Hang Seng -0.79%, India -2.83%, Shanghai -0.28%, Nikkei -2.35%, and Taiwan -0.70%.

Glancing towards Europe, we see the FTSE -0.04%, CAC -0.78%, DAX -0.30%

As of 8:10 AM EST, S&P Futures are trading -1.10 to 878.20 and Nasdaq futures are -1.2 to 1406.75.

A Look at Commodities

Over in commodities, crude oil is trading -0.60 to 62.33 while gold is -8.40 at 920.70 this morning. Silver is -0.205 to 13.01 and copper -1.35 to 220.05.

The dollar index is +0.1170 to 80.9600.

On the Radar

Economics

10:30 Crude Inventories
03:00 Consumer Credit -7.5b cons.

Click here for the full trading radar.

Hump day! Good luck!
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No positions in stocks mentioned.

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