Yes, GOOG is going much much higher. But not in a straight line. I have a strong feeling that the Democrats are going to take back the House (possibly the Senate). This will roil the markets. Higher taxes, the threat of a long protracted impeachment, and other specters loom over the horizon. It's not good for anybody.
Keep in mind, I'm not a huge fan of the current administration. But I am worried that the Democrats will mistakenly think they have a mandate from the people. And they will interpret that mandate as a license to push protectionist, isolationist failed policies back into the political discourse. This is worrying for American economic competitiveness.
The Democrats might also interpret a House win as license to begin investigating all aspects of the Iraq war. I think there is a lot to investigate here! But its also not productive. We're there and we have to build a democracy in Iraq. No other choice at the moment. As the Economist puts it, I am worried about a long period of "navel gazing".
So I'm reducing my exposure to GOOG here. I'm selling into strength today. (What a trade!)
As I mentioned before I'm starting work at GOOG in a few weeks. Thus I will need to stay away from trading GOOG in the near future. Might as well get used to it.
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