In this market, a stock is either leading, tracking, or lagging. GOOG is doing a great job of leading . . . on the downside, and is clearly lagging on the upside. It is these types of candidates that make the most attractive shorting positions when the overall stock market appears to be running out of gas.
Let's take a look at the T3/OP video with Jill and Scott as they review multiple levels in GOOG:
On our chart we have the TTM Squeeze indicator, which fired off a short signal on September 30. This signal is still valid, signaling additional downside pressure in this stock, and making any rally an even more attractive shorting opportunity. The reversion to the mean level is a basic 13 period exponential moving average. And at that level I'll be waiting, like a cat, to buy the October monthly 530 put options.
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