New highs for GOOG

Google caught fire in the last half an hour, and new highs will likely attract technical traders looking for more. The company has announced a slew of acquisitions lately, and with Yahoo!’s Panama looking mundane it appears the Street is back in love with this stock.  Valuation is still reasonable vis a vis its short historical record. The multiple was compressed for six months following it Thanksgiving high, but looks like nobody is scared of their bumbling competitors. For those of you who missed last Sunday’s New York Times article (read here-sub req’d), Matt Cutts has his own take on it right here on his blog.

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