Up 75 dollars to 525! Who believed comScore? Just the shorts on the street peddling baloney. INTC beat numbers, IBM crushed numbers, and GOOG demolished everyone of the shorts arguments. Meanwhile, the stock was down 300 points on reasons that were non existent.
At least i didn't see it that way. I said you could get your free money at the bear's burial!
Google, (GOOG 471.09) reports earnings a week from next Thursday, the day before option expiration. Forget ComScore and clicks; what is important is that Google didn't spend $5 billion plus bidding on FCC spectrum. They bid just enough for Verizon to spend their money...
Well, Google is still a "pure play" on search, now that they didn't spend billions on spectrum. What happened to the bearish argument now? Yahoo is falling apart, as Yang is more worried about not being bought by the "evil empire" Microsoft. His response is a power point presentation on how rosy the future will be. Remember the same one he gave on Panama? Irregardless, the market will pay more for Google, as any slowdown has already been more than discounted in its stock price!
...Pure play? Just another useless expression on Wall Street. The financials were a "pure play" on Armageddon or a depression. Now it's obvious that reasoning was just a pure play on fear mongering.
The mantle has been passed to the bulls. And they are clobbering the bears on the head with it.
Google thought they could sandbag earnings and force Mister Softee to pay up for Yahoo, just like Google tweaked Verizon to pay up for spectrum.
But MSFT is sandbagging on it's earnings report also! When they report next week, Mr. Softee can run to 33 from 29. And the May 30 calls are a quadruple at these prices.
And the bears? We've witnessed their burial on Apple, RIMM, and now GOOG. Next week AAPL will pour salt on the bears cuts.
And we'll rubberneck another pileup of the bears being taken out on a stretcher.
Couldn't happen to a nicer bunch.