GOOG Downtrend, RSI, MACD (Daily) - Stockcharts.com
GOOG Fibonacci Retracements (Weekly) - Stockcharts.com
I found interesting GOOG sentiment data at SchaeffersResearch.com. Short interest especially. $GOOG short interest, ending 5/1 (so backward looking) was the lowest it's been in over 2 years at 3.39 million shares. In mid February, 2010 short interest was double where it was on 5/1, at 6.07 million. So shorts covered the February correction. Short interest stayed around 3.3 million when GOOG lost 11.7% ($595 to 525). The stock is now at $472 (down another 10%), so perhaps shorts loaded up from 5/1 to 5/15, we'll see when the data comes out. It's also interesting that the GOOG put/call open interest ratio fell in tandem with price since the mid April peak (.72 to .51 as of 5/20 at SchaeffersResearch) and the P/C ratio is at a 1-year low and even close to the 2-year low. So that's considered optimism as calls open are double puts. Is it enough optimism to continue fading? The measure that makes sense here is volatility. The GOOG VIX more than tripled since mid-March (.13 to .42) anticipating the sell off. Which measure will fold at the poker table? It will be interesting to see. Find historical charts of all these ratios at SchaeffersResearch.com.
In other news, Google was just cleared by the FTC to acquire AdMob for $750 Million. Video courtesy of BloombergTV. Also remember Google pulled out of China via google.cn? Will that effect revenues?