Sunday, February 8, 2009
Stock ticker GS, is looking like a very ripe shorting candidate. If this stock gets over $100/share, it will be hard for me to resist starting a short position:
Here's a 6 month chart:
Here's a 2 year chart to provide perspective and an example of a prior correction circled:
And here's a 5 year ratio chart of GS to its sector, represented by the Dow Jones Financial Index ($DJUSFN), showing how ridiculously overbought GS is:
Any bulls out there who think GS is a strong company and this move up is due to strong fundamentals are about to find out the truth. GS is going back under $50 a share in 2009 as a no-brainer, bet your grandma's money-type trade.