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Mr. Big Dog

Google is now bigger than Mother Russia’s entire market

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Google is now bigger than Mother Russia’s entire market

Americans hardly had time to savor the schadenfreude of Vladimir Putin’s financial Chernobyl before North Korea managed to flip the script on the evil Yankee imperialists, it appears.

Now, while Hollywood mourns the loss of creative expression, Kim Jong-un is probably kicking back somewhere on his private island, sucking down his father’s cognac and enjoying

of five indentured toddlers. A celebratory slap-and-tickle fight with Dennis Rodman in a wedding dress can’t be too far behind.

In the midst of all this, the stock market went MAD. As in, it logged a major accumulation day, defined as a session when up volume on the NYSE is at least nine times more than the down volume, according to Urban Carmel of the Fat Pitch blog. And Wednesday’s MAD, the first since October of last year, came in with a lopsided ratio of 17 to 1.

Does the market have yet another V-shaped bounce in it before the end of the year? “[MAD] is telling you that investors overwhelmingly see equities as attractive or oversold at current prices,” Carmel said. “It’s a bullish sign and normally (but not always) initiates a move higher in price.”

Market strategists, for the most part, agree that, despite all the reasons to doubt it, good times lie ahead in the coming year. Their average prediction: 10% higher on the S&P. That’s pretty optimistic, even for these typically bullish characters.

Specifically, our call of the day is chewing on the possibility of a move higher — a huge, Apple-esque move higher — for shares of Google. And why not? It just blew past Russia (more on that below).

...

This chart from Holger Zschaepitz, a senior editor at the German daily Die Welt, pretty much speaks for itself. One of the bits of fallout from Putin’s huge headache is that Google GOOG, +0.42% for the first time, is now worth more than the entire Russian stock market. Which one would you buy? See the next section for some advice on that question.

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article-2109993-12076633000005DC-789_634

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