Strange Times in the Tech Charts

What kind of bizarro world do we live in where Groupon (GRPN) is approaching a technical buy and Google (GOOG) is a short? I'm not going to even try to feign a fundamental argument for that pair-trade thesis. There isn't one. I'd have better luck arguing that the six kid actors in The Brady Bunch were all actually related. However, from a technical side, there could soon be triggers on both stocks to support this thesis.

I don't like Groupon as a company concept. I do like Google. However, I don't like the wedge that Google is threatening to break down from at the current price. All it would take would be one big scare from Europe to push Google lower and trigger selling. Momentum has come to a grinding halt, with the TRIX already crossing over in bearish fashion. A conservative trader of high-beta names will probably want to see the Relative Strength Index (RSI) break below 50 and price to close under $808.50. I've taken a small position with the weekly mini $815 puts....158 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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