Wednesday, July 8, 2009

Trade Alert GS,


Well it finally happened Goldman Sachs closed under $140 a share. The two-day chart in the 15 minute time frame shows how, it opened yesterday's close dropped all the way down to $136 with two touches there and then went up into the close.



In the six-month chart in the daily timeframe you can see the drop and a little support at $136 level. Also the stochastics are about 20 and turning up. The last selling bar is relatively high and the only one above the 50 day volume moving average. So this could be just one and done. Is it? There is no way to tell, but I will not guess. If and only if Goldman Sachs stays below $140 tomorrow I will short it. No promises let's just see what the morning brings.

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