I am still bearish into March and April expiration, but in answer to a good question from a subscriber who wanted to hedge his short-Index bet with a high reward bullish bet. GOOGL 2-Day On a purely pattern recognition basis, this is a very bullish set-up with an initial breakout yesterday to signal the beginning of a Wave 5 and targeting $390-$450. A close above $308 confirms the breakout. GOOGL Daily Longer term GOOGL should be well above $350 in the months ahead. Stop on a close below $295. GOOGL Trade - High Risk: High Reward Any GOOGL close this week above $308 can be considered a confirmed breakout, signaling Wave 5 targeting $390-$450 and the purchase of April calls. I prefer the April calls as they allow for plenty of time for GOOGL to run-up into the mid-300's. Stop is the usual -50% and/or a GOOGL close below $295.
