Tonight I stopped over to our local library, browsed through some books, and then hopped on the wireless internet with my laptop and do some research on a few stocks that are in my radar.

What a shocking and pleasant surprise these past few hours have been…

I thought maybe I would check up on the current Jutia Portfolio plays to see if there was any relevant news worth looking into. Then, I typed in Google’s ticker symbol to discover that the stock had rocketed in after hours trading. All I could think was, “YES…that was my call, and now my personal portfolio and readers who bought into this stock will be very happy.” Google is on its way to $500+ so get ready for a wild ride!

The headlines read: GOOG $426.06, +6.75, +1.6%) rose 7.9% to $459.85 after reporting a 92% rise in third-quarter profit on jump in revenue from the ads it places next to search results. Profit rose to $733 million, or $2.36 a share, from $381 million, or $1.32 a share, a year ago. Sales rose 70% to $2.69 billion. Excluding the payments Google makes to acquire Internet traffic, sales rose about 78% to $1.86 billion. (Source: Bigcharts)

I honestly didn’t know Google was reporting their third quarter results today, but in reality I shouldn’t have been too shocked at all by these results. My technical analysis was right on the money. These are the moments when you have to truly look at those who only swear by the fundamentals and laugh. The problem with this crowd is that they have no concept of market timing. Now, I do utilize some aspects of fundamental analysis, but I’m not prepared to wait a decade to see results, and you shouldn’t either.

You know, thinking about fundamentalists, I received a call about a week ago from a top financial management firm whose name I will not disclose. The guy found my resume to be intriguing, said he was interested in interviewing me, and wanted to get to know me more. So, I told him about my M.B.A, strong background in Finance, and a little about what I look for in filtering out solid stock plays. About 15 minutes into the conversation he seemed to be a little disheartened. His response was, “Well Mr. Oakes, technical analysis is not quite what we do here. You see, we perform only fundamental analysis and I’m not sure this would be a good fit for your talents.”

Figures. What was I possibly thinking? How could a firm so large ever begin to think outside the box and actually take notice to someone who would be able to compliment their fundamental staff. I see this as the Ying completing its Yang. With everything in life, there is a core or balance where the greatest strength and knowledge reside.

When it comes to technical analysis, you have to remember that historical trading can give indication of when an event is likely to occur. I found Google because it had traded in a familiar consolidation pattern that only technicians would understand. The charts tell a story and give valuable insight as to whether the bulls or bears are winning the fight. When Google stock broke out from the long term pattern to the upside a few weeks ago, that was my clue to jump in with open arms. As long as you perform good money management practices, do not place all your eggs in one basket, and utilize stop losses, you should be able to perform very well for yourself.

Good Investing…