Google Searches for the $500 Mark

This column was originally published on RealMoney on Nov. 14 at 3:56 p.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

Speaking of hitting stops, which is what happened with the S&P today, check out Google(GOOG Quote). That stock is about to breach its high, and when it does, the next stop could be $500.

Until options expiration. That could cause a hit. Google is battled every expiration week, and this week should be no different.

Except that this market does love 52-week highs, because there are tons of people who are chartists, and they are forever worried about double tops. (Remember the famed Sears Holdings(SHLD Quote) double top that was supposed to stop everything cold? )

I continue to believe that Google deserves a 40 multiple on next year's earnings, which puts it comfortably at $600.

But it has to get through $500 first, doesn't it?

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