Thursday, June 16, 2011

Trade Update: GS

Well that didn't take long. We were stopped out of our short on Goldman Sachs today at $136.69.
We entered short with 50 shares yesterday at $134.69.

Looking at the chart you can see how the shares have been trading in the channel between roughly $131.00 and $141.00 for about a month now. I think a solid break of either boundry will provide a good place to try to catch the next move, long or short, for the Golden Gangster. We don't have to guess, just trade the break.

Short 50 shares GS at $134.69
Buy stop at $136.69

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