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...")