GOOG – Google (Last:931.66)

GOOG shredded an 866.35 rally target on Tuesday, obliging us under the rules of the Hidden Pivot Method to find a new target of higher degree. The one shown, at 937.97, can serve this purpose, since it looks not only like an odds-on bet to be achieved, but to be achieved precisely, given the dance that occurred near the 798.48 midpoint Hidden Pivot over the last five months. I see no appetizing opportunities at the moment to get long using the weekly chart , since it would require a retracement all the way to 798.48 to set up a ‘mechanical’ bid. However, since we ‘know’ where the stock is headed in the weeks ahead, we’ll trade with a bullish bias for now, using such entry opportunities as may present themselves intraday or overnight. _______ UPDATE (Apr 26, 7:32 p.m. ET):  Bid 2.20 for two May 5 835 puts, day order. That’s about where I estimate they will be trading if GOOG hits the 880.94 rally target shown. This Hidden Pivot looks like a rally-stopper to me, and I would be surprised if there’s not a tradable pullback from within $1 or so of it. I’ve used a Hidden Pivot pattern to project a low for the put options as well; they ended the day at $3.70, down from $25 just a few weeks ago. If the order fills, offer one of the puts to close for 3.70, good-till-canceled. _______ UPDATE (Apr 27, 5:42 p.m.): So much for buying the puts. GOOG has taken a maniacal leap in after-hours trading on strong Q1 earnings. My plan had been to buy the puts when the stock was trading at an 880.94 Hidden Pivot resistance that looked capable of stopping the rally cold, at least for a while. However, because GOOG has already been as high as 918.40 this afternoon, we’ll revert to the bigger-picture target at 937.97 originally given.  There was nothing done on the put order because they never traded lower than 2.75 intraday. _______ UPDATE (May 4, 6:20 p.m.): As expected, the stock has shredded its way to the 937.97 target, coming with $2 of that Hidden Pivot at today’s high. Short there on Friday with a stop-loss as tight as $1.11 only if you’ve been long for at least a part of the ride north.