Google (GOOG) has finally hit 500 and it did it pretty quickly this morning. Yesterday it was kind of stagnant, but today it took off and so far is hovering around the 504 mark. I really didn’t think it would happen this week, but I’m glad I was wrong!

Right now I am just a couple hundredths of a percentage point away from a 26% gain on this stock, which means I should lock in at least a 20%. I bought it almost exactly 6 1/2 weeks ago, and that is a tremedous gain in that time period.

If you are a practictioner of the CANSLIM method of investing, an 8 week gain of this type is a signal for a long term holding. Other stocks that have shown this kind of performance were Microsoft, Cisco, Home Depot and WalMart back in the 80s and 90s when they made their incredible runs.

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