Google Inc (NASDAQ:GOOG) is trading at $802.38, +9.48 (1.20%). This is a new all time high and Wall Street is cheering. In the short term Google appears to be very strong but there is a master level approaching at $810.00. This is a pivot cycle point which will be an inflection point on the stock. It should start heading south by early next week if this level is tagged.
While some might be skeptical on the pivot point gathered by my proprietary calculations known as the PPT Methodology, what cannot be argued is the massive insider selling going on. If that does not send major warning signals to shareholders, nothing will.
Just in the last month Eric Schmidt, one of the founding fathers of Google reportedly sold half his entire stake, 3.2 million shares. In addition, countless other insiders are dumping at a record pace. For a stock that appears unstoppable, something is amiss.