Thursday, August 4, 2011

Trade Update: GS

We went long a with 25 shares of Goldman Sachs at $133.70 and today we got stopped out at $127.50. In retrospect I can't believe that I didn't at least tighten up my stop. We lost $155.00 on the attempt. Bad trade on my part.

Anyway look at the chart of the Ganster and you can see that it is in a down trend and now scrapping bottom almost at it's 52 week low. I wound no be surprised to see a rebound here. We want to watch Goldman Sachs even if we don't trade it because it will likely lead the financials in the event of a rebound. For now I'd rather watch and wait than buy and hope.

Buy 1/4 GS @ $133.70.
Stop at $127.50

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