Since bottoming on June 4, Google has generated the kind of impulse leg that could keep it buoyant for the rest of the summer.  The rally exceeded no fewer than five “external” peaks on the daily chart without pausing for breath, a feat that will allow the stock to take its sweet old time consolidating the move in the days ahead. Let’s try to leg on a bullish butterfly spread by buying a call if and when Google falls to a Hidden Pivot support at 518.82. The target can be found on the 15-minute chart, where A=550.68 on July 7.  Buy one September 600 call, using a stop-loss at 518. 20.  Pay no more than the midpoint of the spread, since it is extremely wide. _______ UPDATE (9:16 p.m. EDT):  Astounding! We thought that a $595 quote that flashed on our screen was an error. Evidently not. Earnings released after the close were so impressive that the stock is currently in the throes of a murderous short-squeeze to $600 — up nearly $70 over the day session close.  So much for the call options we might have bought for around $6; they’ll be trading for at least $25 come morning.