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Late Night Strategy for Thursday


Goldman Sachs has a pretty textbook bearish setup on the daily chart, below. Note the bearish engulfing candle at the 50-day moving average on Wednesday after a weak buy volume bounce over the past week.

If we are on the cusp of seeing the next leg down in a more standard correction, in lieu of the QE-era rallies to new highs off shallow dips, then I suspect Goldman will prove to be a quality short into the end of this week.

I like it as a short on any further weakness, which would likely pressure the financials as a whole.

Drop me your top tickers overnight.



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  1. utility player

    am not getn screwed in SONC , EMC , MYGN is back for real, and playn puts on CAT earnings.

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  2. Clyde Frog

    Short $BA below $120.

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