From the Trading Desk

GOOG 1-4-08 to 3-10-08

GOOG was a nice short but due to the low volume I was unable to “load up” and really make the short worth my while. However, the price rollover and breakdown, with the bear market starting, was a near-perfect short setup price wise. The stock subsequently fell 37% from my short to the ultimate low of the downtrend and even if you held until the gap higher on strong volume over the 50 DMA, you still walked away with a 17% gain. Even though it would have been impossible to hold, for me, the stock is now down 60% from my short to the low in November. This short was taken during a time that everyone was saying to go long RIMM, AAPL, GOOG, GRMN, and BIDU. I said that the tech “horseman” were all shorts and even published a column about their topping patterns on Realmoney.com. When the bear is done with AAPL and RIMM, we will go over those shorts. GRMN has already been posted and my BIDU short was botched completely.

the short:

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the low of the move:

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