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Is Google Overbought at 1000 Dollars?
The United States Congress and President have finally averted a debt default and put the government back to work. The response was a stock market rally in which the market was able to focus on earnings instead of the prospect of default-related international financial calamity. The S&P 500 hit an all-time high close of 1,733.15. American Express and Verizon led gainers. Google briefly rose above $1000 in premarket trading based on better than expected earnings. Along with the rest of the world we are relieved that default on US debt did not happen this week. And we wonder is Google overbought at 1000 dollars a share? How much will people pay for pay per click and pay per action advertising? And what ever happened to stock splits?