Sunday, March 15, 2009

Levitating above the cesspool (somehow)

is Goldman Sachs (GS). I missed my last chance to short GS, as I was waiting for the century mark price point, which GS didn't reach. Lo and behold, it's there now.

Here's a 6 month daily chart with my thoughts:

And here's a ratio chart comparing GS to the Dow Jones US Financials Index ($DJUSFN):

Goldman Sachs is going down (again...). I am going to be watching this stock for a rise to around $103-$105/share and at that point, will be buying slightly out of the money July puts.

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