As I write this, Google is breaking above its pivot point of 203.74, but instead of jumping into this one right now, a cautious approach may be a better strategy.  While the stock has carved a mighty impressive base with tight price action (institutions are holding shares tight), buy volume has been lacking throughout (they’re not clamoring for new shares).  In addition, a couple events of events on the horizon will undoubtedly have a major affect on stock price.. earnings in a couple weeks and final phase of the lockup period when millions of additional shares flood the market.  If you’re a regular reader here, you know how I feel about earnings reports.. best to wait for the dust settle.  It will be interesting what Yahoo will report after the bell today, which should provide a glimpse into how well Google will do (at least in the pay per click arena).