Short Scalp: Goog (653.49) Rebounding but watch for the downward re-test
Rationale: Many growth stocks, including RIMM, AAPL, BIDU, have bounced nicely short-term since falling from their pinnacle highs in early November. However, on this 60 min chart , Goog has runup to its 20 EMA (660 area) (see red eclipse on chart) and is exhibiting all the behavior of a short scalp down to re-test it's prior lows of 626.21.
Target: 626 area
Stop: 657