At times, owning tech stocks can test your resolve. This week Twitter has gotten taken to the woodshed to the tune of over 20 percent downside. If you owned this stock, would you be able to take the pain? Could you step up and buy more here? If you don't own it, should you buy Twitter now? If you do buy it, be prepared for a roller-coaster ride. Hold on!
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Google is in an important spot on the chart right now - the 50 day and 200 day moving averages are meeting. For Google to truly re-gain bull status, the 50 must rise above the 200 and stay there. It seems as if that will happen in a few trading sessions - only if the stock rallies above current levels. In the 540's the 50 will be 'rejected' by the 200 and head south once more.
What to do with Google right now? If you already own the stock - Hold. If you have no position - taking a small entry here isn't a bad thing. However, I am more inclined to wait. Short term rating = HOLD Long term rating = BUY |