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.