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October 21, 2005

Can Google save the USA?, Fri., Oct. 21, 2005, 9:15 AM

An associate from 8200 miles away sent me his impression of U.S. markets this morning. He wrote: I don't think Google can save the U.S."

But given that GOOG is currently bid $348.40, up +$45.20, I started to think about something else. Is this the top?

I had similar thoughts a couple days ago when BOT was driven up to insane levels immediately after the CBOT IPO stock started trading on the NYSE.

In any event, the Dow futures are now up just +16, after being up about +40 earlier this morning, and falling to +8 a couple minutes ago. So the day may settle down, but not be as hot as many expect.

Today is the third Friday of the month, which is the Equity options expiry day. It also happens to be one for Treasury options expiry.

What with Halloween just around the corner, can anybody say ‘double witching'?

I will be doing a comprehensive review of capital markets on Saturday, and publishing my usual Saturday Week in Review this week on Sunday. Ahhh, the work never stops!

But I enjoy it so.

I would enjoy it more if my 9200 Dow forecast still comes up as the reading in the Cara Crystal Ball. And maybe the over-reaction to GOOG will help me out there.

Posted by Posted by Bill Cara on October 21, 2005 09:17:30 AM | Category: Cara Today in the Market

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