Google Hits New Lows

Posted by Blain Reinkensmeyer
December 7, 2006 at 3:18 pm

Shares of Google (GOOG) as of 3:16 PM real time jsut hit new intraday lows of $483.34, and the market is continuing its downward spiral. Volume on the Internet giant is nearing 4 million fast, and if volume surpasses 4.5 million then the day will be considered a distribution day. $480 has proven as a strong support area for Google, but perhaps three is the magic number before it falls. Placing stops around $478 would not be a bad idea to protect gains on this stock.



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