Buying Google at $600?

Yes.

The only new position I added to my portfolio this week is Google, just shy of $600/share.

My signal to go long coming into the week was $550.82, but it's not like there was any chance of getting in at that price. After closing at $528.94 and then announcing huge Q2 earnings after the bell on Thursday,  it opened at $597.50 yesterday. So all in all, I was relatively happy to get in a few pennies shy of $597.62 at the close.

My initial stop for the trade is going to be $500.50, and using my 1% risk model the position will carry a total portfolio weight of 5.98%.

One other thing to think about: if I was trading my daily model on Google I would have taken a long signal back on June 30th at $506.38 (with a $476.35 stop) and I'd already be sitting on a nice 18.0% gain. 

The stop for that model would be $535.13 for Monday.