Thursday, October 18, 2007

Countrywide, Chevron and Goldman Sachs Charts

A beautiful looking pennant. Watch out below ! Again if you are a depositor, please make sure you have no more than the FDIC insured limit.

Still short 2 units of Chevron @ 92.25. Crazy being short an oil stock here.... maybe, but the stock refuses to make new highs as crude pushes higher. 94.69 is the stop now.

Suffice it to say I am highly skeptical of Goldman's latest quarter. (chart top ). I have a suspicion that a whack of that 8 billion of trading revenue was of the tier 3 (make believe)variety. Besides, how long can you go losing 19 billion on operations and borrowing 23 billion. To this simpleton this math doesn't add up. As my notes on the chart indicate I need someone to explain how GS is immune to the sickness that ails the others. I know you are supposed to put our rocks in the wettest bags as they break most easily but for some reason I am drawn to the the 'masters of the universe' and central banking breeding ground Goldman Sachs. You can't tell unless you bet so I go short here at 227 with a stop above yesterdays high at 231.29. Maybe they are the smartest guys in the room, we shall soon see.

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