Now looks like a great time to take a stab at GS on the short side. The stock hit resistance near the top of the channel right at the 200 day moving average. Most likely, the stock will pull back to the 50 day, or maybe even back to the bottom of the channel.
Disclaimer: I bought some puts in GS today.
In case you missed the comment from T MOE:
If you enjoy the content at iBankCoin, please follow us on Twitter“Crazy action in the April put options for WFC. The April 11 puts have traded over 126k contracts. Someone knows something here. Leads me to believe that WFC is in trouble. Maybe the stress test is not going well??? Who knows but that is insane action in those puts”
For what it’s worth- little trading note on AAPL today from some news source:
AAPL: Levels to Watch – … A breakdown below $103.50 would potentially see the resumption of the previous trading range. Support levels to watch as potential downside objectives are at $103.71.., $102.50, $100.59, $97.80.
another FWIW is I bought more QID at 50, so lets go aapl!
maybe ths will help it along a little for you today Danny..
Apple, China Unicom deal may be delayed, Barron’s reports
..Wedge Partners, a research firm, reports that China Unicom has not included the iPhone in a list of phones that will be authorized to use the Chinese company’s WCDMA network. Wedge, which identifies several barriers to an Apple-China Unicom deal, believes that it will take several months for the companies to reach an agreement on the matter.
Thanks for reposting that WFC comment – that is some frightening shit.
thanks RC..i was shorted..
Thanks for the repost RC. Nice looking chart indeed. Especially since I got short GS last week at 111.50 WOOOOOO HOOOO!!!
meant to post this earlier.. M Stanley had a note last night on Overbought stocks to take profits in now:
Info Tech: AMD, NVDA, BRCM, MRVL, JDSU, NCR, CRM
Industrials: MAS, TXT, ROK, FAST, IR CAT, UPS, UAUA
Materials: FCX, AKS, X
Energy: FTI, SII, BHI, FST, NFX, EOG, RIG, DO
Discretionary: JWN, ANF, EAT, SHLD, DKS, UA, CBS, CMCSA, DIS, OMC, CMG, PNRA, CPKI, PFCB, RRGB
Other: SPWRA, CPB, S
saying”We believe this is a rally to sell into. Even under the most generous of assumptions, we cannot see large
upside for the S&P 500 above the 825-850 level.”
Wish I caught this one a few days ago at $114.
Based on probability and historical performance, GS has -16.99% (-17.07) left in its typical downward move.
I really hate GS.
CSUN bucking the trend a little after being mentioned positively in some Louis Navellier’s Global Growth Update..
nice call on GS…were u trying to get smoked immediately…well done.
11:18 Morgan Stanley – Japan may offer incentives for renewable energy, says Morgan Stanley
Morgan Stanley said Japan may offer incentives for energy efficiency and renewable energy, which could be a potential positive for solar stocks
Hey Anon-
Easy on RC. He was just a little late to the party.
He is not “late”, he is a tad early to this party. GS will drop tomorrow. Have fun RC.
No doubt, RC is always on the right track…
btw Merril Lynch’s Technical Analysis report yesterday had these as the top overbought stocks:
1 MS MORGAN STANLEY
2 SGP SCHERING-PLOUGH
3 GS GOLDMAN SACHS GROUP INC
4 PX PRAXAIR INC
5 HES HESS CORP
6 IBM INTL BUSINESS MACHINES CORP
that’s technicals, not fundamentals