Google, one of the big Nasdaq 100 technology Fang stocks came out with earnings after the bell this afternoon, that exceeded analyst expectations. Seems good on face value...
Now just look what is happening to the stock in after hours trading. Google currently trading down $89, or 5.78 % to 1198.59, after being up $15 in RTH today.
Seems Google's profit in cost per click, fell unexpectedly in the first quarter, and with the stock priced better than perfection,... traders and investors went running for the exits, all at the same time this afternoon.
That my friends is what happens in a crowd like setting, when someone is disappointed. There will be much more of that, in the weeks, and months ahead. Prepare yourself. The fat lady is preparing to sing very loud and clear, once again.
It will probably not open that low - maybe 1240s. Not that I have a position anymore. Funny how nobody wanted to touch it in late December when it was drifting in high 900s.
leftey
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Let's hope so.
Scary bearing around this thing, not really sure of a safe place to watch . .