Since hitting an intra-day high of 713, profit takers have sold Google in a big way - pushing the stock down to 654. That is quite the sell-off and under most ordinary circumstances, I would advise caution. However, in this instance - Google had executed the single biggest one day gain in the history of stocks - so profit taking was inevitable.
What now? Will the profit taking continue? If you sold Google stock to reap the benefits of that huge day - when do you get back in?
I wouldn't rush into this stock while the wild swings are still happening. Wait for it to settle. This stock could rush back up to the highs again OR fall back towards the 600 mark. Who can say after a crazy week like this. Not even the best minds in stocks could tell you.
Wait. Have patience. Watch for a better price.
Short term rating = HOLD
Long term rating = BUY
What now? Will the profit taking continue? If you sold Google stock to reap the benefits of that huge day - when do you get back in?
I wouldn't rush into this stock while the wild swings are still happening. Wait for it to settle. This stock could rush back up to the highs again OR fall back towards the 600 mark. Who can say after a crazy week like this. Not even the best minds in stocks could tell you.
Wait. Have patience. Watch for a better price.
Short term rating = HOLD
Long term rating = BUY