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For Now, Maintain a Long Position in Google

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Wait until Google approaches an overbought level before selling.

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We wanted to update readers on our December 2012 Buy call on Google (NASDAQ:GOOG).

On December 3, we suggested starting a position around the $698 level as we got a Buy rating in the name. Then on December 20, we went to a Strong Buy around the $719/$720 level. Surprisingly, as the stock breaches $800 and is up not over 10%, it's not even at the Approaching Overbought level.

For those who are not familiar with our platform, we quantitatively use statistical price series to grade all securities. We break down the strength of each security with a generic rating system: 1 (Strong Sell), 2 (Sell), 3 (Hold), 4 (Buy), 5 (Strong Buy). On a granular level, our algorithm is even more complex, and not all Strong Buys (or 5 ratings) are rated equally. Our platform suggests reducing 50% at Approaching Overbought levels and 100% at Overbought levels.

At this juncture, we will remain long until Google hits Approaching Overbought or Overbought.


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To learn more about ChartLabPro's algorithm visit www.chartlabpro.com.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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