Monday, November 30, 2009

Trade Update: GS

What happened to the Golden Gangster GS? We bought 25 shares of Goldman Sachs at $172.79 and were promptly stopped out at $168.33.

You can see in the 15 minute chart that GS floated down to $168, found support, but then gapped down on Friday when the news from Dubai Default World broke. So what now? Short GS? Not a chance. i still have faith in the Plunger Protection Gang. They will not give up so easily. Lets give them a chance to recover. I dont want to go long GS until it breaks above it's 100 dma. So for now we are out.

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