Google Option - What to do?

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NFLX. Great company. Great name. Great fundamentals.

Only thing is, they seem to have shot up too much too fast, and recent trading appears that traders are either taking some off the table, or they know something bearish that we don't.

However, the pullback could become a buying opportunity, I don't know. Current valuations of P/E 46 is extremely rich for my taste. It's almost twice that of even GOOG.

It's one of those stocks that you probably want to buy and hold rather than trade, but that's just my opinion. Also, try not to buy too high if you can help it.

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NFLX is trading on an up day today, but due to its high price, it's turned into a battleground stock. Not for the feint-hearted traders right now.

But if you really want to talk about a bummer, Palm got bought out by HP, and the stock has gone up by about 24%. Ah, if only I had the powers of being able to see into the future. I've been tracking the stock for quite a while now, and this merger literally came out of the left field. I feel sorry for anyone who had substantial puts on this one, though honestly, I can't blame them. Before the acquisition, it was kind of a reasonable bet. But that's the definition of high risk, high gain there.

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Since we're hijacking slug's thread for general stock talk, Transocean has a broken oil rig that's spilling oil right now. Any accidents like this is horrific to be sure, but....

If you're looking for a dip into a good oil service stock, BP is getting beaten by this because they were the ones leasing this transocean oil rig. The market is up by 0.8% right now, and yet, BP stock has gone down 4.2%.

And if that's not enough, BP's stock pays a dividend yield of 6%.

For what it's worth, I'm staring at it, though I will probably wait until at least tomorrow to figure out if I want to get into that. I'd like to see it get closer to $50 before I buy it. Again, we'll see.