Friday, August 12, 2011
Trade Update: GS
We got the market bounce as anticipated and Goldman Sachs responded well. In the daily chart you can see the fall from the failed double bottom at $125. Look at all of the activity underneath $120 this month. I don't think that Goldman Sachs is a buy until it breaks at least $120. That's why yesterday I said it was a risky trade when we bought 50 shares at $119.49 with a two dollar stop.