GOOG downgraded

goog-2005-02-24.gifGOOG was downgraded. It dropped 10 point intraday. It’s again sitting right at the upend trend line. I have opened a position on GOOG Apr 200 Call at 5.6. Apr 200 Call closed at 6.1. The white candle looks good after the hugh gap down this morning. What I read from it is that there’re a lot of buying at this level despite the big drop.

MSTR to fill the gap?

It looks like this gap will be filled soon. On the back of my mind, I was thinking about when to short it, but never acted upon. There is more room to go downward. It’s not in over sold condition yet and the selling pressure is huge based on the volume spike. A lot of catching a falling knife things are going on as every sell had to be matched with a buy!