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Obvious Institutional Support for Google Inc

Clapping

If the RTT Steps looks handsome, it can only be that the stock is well supported by the institutions.

With the demand entering the market at the lower line of the RTT Step band is evidence that support is under the stock. In a high cap market stock this can only be the big boys! If you know this as a retail investor then you are on the right side of the trade. Or course when price breaks the lower bound step band then you know someone as broken ranks, the harmony of the stock is damaged and the Wyckoff composite man is not as it once was. Too much supply broke demand.

Inverting the chart allows the chart reader to see if shorting the stock is a better option, so far not so for Google Inc. Bob Evans regularly stated (in the tapes) 'turn the chart upside down' to check your trend, yes this approach does work well.

Monthly Google Chart

Investing Quote...

"Tape reading was an important part of the game; so was beginning at the right time; so was sticking to your position. But my greatest discovery was that a man must study general conditions, to size them so as to be able to anticipate probabilities." ~ Jesse Livermore

"Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market." ~ Warren Buffett

"It is better to have few stocks and to watch them carefully." ~ Bernard Burach

"The stock market is filled with individuals who know the price of everything, but the value of nothing" ~ Philip Fisher

"By failing to prepare, you are preparing to fail." ~ Benjamin Franklin

 

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