This is just to follow up a comment about GOOG too stretched above its weekly BB. History shows it’s not a bearish sign rather it’s very bullish. Actually this reflects a very common but very misleading concept: overbought is not a reason to short, instead it usually means a strong uptrend therefore it’s more likely a buy. Another example is we should buy stocks that reach 52 week high instead of buying stocks that fall into 52 week low.
