Wednesday, November 28, 2007

Alert GS

Goldman Sachs gaped up this morning. DON'T chase it. The stochastic on the 15 min. chart is nearly 100% and rolling over. Let it come back to you. If the stochastic goes all the way down and turns back up as the price makes a higher low that's where you go in. The only reason I'm playing with this is that if a Xmass rally is to ensue it will have to be soon and be with GS. Given that the Xmass bonuses are on the line I'm betting on "up". If they can't move the market up another rate cut rumor is expected.

1 comment:

Jeffrey said...

The rate cut rumor has been there for weeks already and, indeed, the DOW today is up because of this rumor.