The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

24 May 2005

Google/GOOG - on the move

Google/GOOG shares shot up $13.84 yesterday to close at $255.45, and another $9 today (only one hour into the session, no less!), as rumors circulated that the company might be added to the Standard & Poor's 500-stock index. This event, as you know, would require many mutual funds to purchase its shares.

And is an item I mentioned specifically months ago as probable, not merely possible. I also said then that Google/GOOG will repeatedly surprise Wall St -- to the upside. Of course, never forget the axiom, "Buy the rumor, sell the fact" which fact augurs for price oscillations -- albeit in the short term. There is nothing in this chart that indicates this primary move higher in price is (anywhere near) complete. (Hmm, I wonder what the bears think now...? Yeah, yeah, I know, "A better short sale now at $275 than at $175...")

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