Google announced earnings in the middle of the trading session, apparently leading to a sharp sell-off intraday that caused the stock to be halted at the time of this writing.
The stock has had a tremendous run and multi-year breakout over the past few months. A throwback to the breakout point, or even rising 20-period weekly moving average, would be entirely reasonable and probably an excellent entry before resuming higher.
I generally do not hold stocks through earnings, as taking advantage of an earnings reaction is usually favorable to playing earnings themselves. In the case of Google, that could easily be the case going forward. I am keeping a close watch on things for an entry.
2 Responses to Perspective on Google
Are the options on GOOG halted too? The spreads between bid/ask seem so out of wack almost like they’re still trading but no one knows where to price them at because the underlying isn’t.