Saturday, February 14, 2009
There's this blogger called Financial Ninja. You should check him out and read his site regularly. He did a post about Goldman Sachs (ticker: GS) today. I also like GS as a short and think it's getting ripe enough that it may become too obvious to reach my $100/share entry price target (i.e. may not reach the price where I start buying puts with [yo] grandma's money...). On the other hand, sometimes price levels like 100 are magnets and simply have to be reached to satisfy some bizarre psychological need of the herd.
Either way, it's an easy trade. Getting in a few dollars too early won't be a problem if you have a few month time horizon. If you pay taxes to the federal government, here's an idea: short GS to get some of your stimulus money back!