Google Earnings
Click on the chart for a larger view. Courtesy of the great Prophet.net
Tonight comes Google's earnings. Looking at the open interest and volume on the options profile, it appears more than a few people are betting big that earnings will be good. Historically, those people have been rewarded handsomely. I consider it gambling but alot of people make money at it. Or, so we are told. I wonder how many don't make money that the marketing machine doesn't tell us about. I'm sure it is the majority. If the stock moves higher off of earnings, I would guesstimate a target of about $570. Simple enough to calculate. Recent pattern high of about $515 minus recent pattern low of about $460 added to pattern high. That would also Google's market capitalization at around $180 billion. Whew! Moving close to 20x sales.
Update:
The Google bulls have alot of pushing to do if they are going to get a pay off for their options bets. So far in after hours trading, Google is down about seven bucks.
Tonight comes Google's earnings. Looking at the open interest and volume on the options profile, it appears more than a few people are betting big that earnings will be good. Historically, those people have been rewarded handsomely. I consider it gambling but alot of people make money at it. Or, so we are told. I wonder how many don't make money that the marketing machine doesn't tell us about. I'm sure it is the majority. If the stock moves higher off of earnings, I would guesstimate a target of about $570. Simple enough to calculate. Recent pattern high of about $515 minus recent pattern low of about $460 added to pattern high. That would also Google's market capitalization at around $180 billion. Whew! Moving close to 20x sales.
Update:
The Google bulls have alot of pushing to do if they are going to get a pay off for their options bets. So far in after hours trading, Google is down about seven bucks.
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