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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

GS: Goldman Sachs Group, Inc.

RaginCajun Mon Aug 18, 2008 10:10pm EST 6 Comments

I’m looking to get short Goldman Sachs Group, Inc. [[GS]] as it is breaking through a short term trendline.

What I would like to see: strength at the open, weakness, then short below today’s low @ $159.70. I will be adding it to the BTFD list.

Note: The market is at a critical point right here, should we bounce, I have no desire to short GS. However, should the market head back to the lows, I will bathe in put options.

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6 comments

  1. um
    um
    August 19, 2008 at 12:54 am

    sum1 cut their est in half tonight pard

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  2. BOTD
    BOTD
    August 19, 2008 at 1:04 am

    DRUGS are good!

    nice call on CRY.

    you see EMIS and CRL …. go team!

    p.s. thoughts on shorting STI? …

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  3. sniper6
    sniper6
    August 19, 2008 at 8:37 am

    Thanks RC. I have been looking to knock a patch out of GS for some time. Mebbe this is the chance I’ve been hoping for.

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  4. Coffee Guy
    Coffee Guy
    August 19, 2008 at 8:55 am

    Hey Rajun Cajun,

    Looks like Dino’s site is finally gayer than yours!

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  5. jonyrokit
    jonyrokit
    August 19, 2008 at 9:15 am

    Ragin what puts would you go with? Sept 155 ?

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  6. Garr
    Garr
    August 19, 2008 at 10:28 am

    Watch TWM. If the market retests lows and then some the small caps will get crushed.

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