Looking at the daily chart you can see how the Golden Gangster bounced off its 100 day moving average at the end of September and climbed steadily past resistance at $160 per share.
From the anemic volume it's easy to argue that the advance is due to shares being bounced amongst the high frequency traders, and the hot air bubble of inflation. In fact, that is precisely my opinion, but as usual my opinion does not matter. All that matters is that Goldman Sachs is above $160 per share.
As usual to manage the risk we will enter with a quarter position, and a stop loss.
To determine the stop point, check out the intraday chart in the 10 minute time period. You can see the support at around $156. If Goldman Sachs is going to continue to climb. It should stay above $156 per share.
By 25 shares of Goldman Sachs, at$162.25.
Stop Loss at $154.50.
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