Google Declines after Cautious Comments

May 17, 2013, 13:50 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Approximately ten minutes after the Market opened on Friday a report was issued by Stock Traders Daily that suggested Google Inc. (NASDAQ:GOOG) may not have much more room to increase.  This report was issued based on the real time Trading Reports published daily by Stock Traders Daily, pinpointing Google’s test of the upside price target in that report. 

Almost immediately after the report was released Google’s stock began to decline, and it was down by as much as 1% from where it was when the report was issued by mid-day.  The report suggested that new investors avoid buying Google at these levels, and that current investors prepare to sell.  The report did not go so far as to tell investors to short the stock without certain criteria being met, but the public disclosure of the recommendation was limited, and short signals may indeed have been triggered.

Stock Traders Daily is a proponent of proactive trading strategies, it encourages investors to buy with the intention of selling, and from the report on Google instead of raising price targets like other analysts normally do when stocks reach their stated target, Stock Traders Daily is telling investors to be cautious with Google instead as its price target is reached and a potential turn down can begin. 

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