NEW YORK (Real Money) -- There are trades that are initially recommended for a long-term move, but our entry points are at key levels and fail quickly.
This might be a great buying opportunity or a short-term trade that was wrong.
Google has a 50-day moving average at $1,090.93 It has a 0.236 retracement level at $1,091.21.
Google is down more than 3% today and below the above-mentioned levels.
You can buy 10%-25% of position on a volume-weighted average price today and exit if it closes below $1,091.21.
On a close above, I would look to be long 25%.
This is a risky trade, and it might not be for everyone, but I still have to tell you that this might be a great buying opportunity.
At the time of publication, Berman had no position in Google.