.gif)
Looking at Goldman Sachs in the daily chart you can see that it maintain it's upward direction above the 45 degree trend line which formed when the stock bottomed in December. I want GS to drop out of that wedge before shorting it.
On the other hand I need to see the shares break the old high of $145 with force before going long. You can see what I'm talking about in the 10 day-15 minute chart. The hump is rather pronounced and if broken "with force" should provide some more impetus to the upside.
Given the divergence with the overall market with the ramp up on light volume except for the last half hour of trading, I am thinking that it was the result of short covering. Remember what I think does not matter, as always the market is my master.
No comments:
Post a Comment