Wednesday, July 28, 2010

Watch Google

Google is another growth stock that continues to grow quickly, but it still looks like it's pulling back from it's 52-week highs of over $629, currently trading at $486.  Google, being the leader in its industry, is the kind of stock you want to have in your portfolio so long as its financials (revenue and earnings) continue to grow rapidly.  If that happens, it will hit $629 within 2 years for a $143/share profit or 30%.
I don't want to buy it just yet.  I want to see if the downtrend will continue so I can buy it at a better price.