Friday, February 13, 2009

Getting Short Goldman Sachs

Goldman Sachs weekly view, chart above.

Goldman Sachs daily views chart above.

The time has come for me to get short this "best of breed" stock. I am using the strength of the last 9 weeks to get short 1 unit of Goldman Sachs ticker GS here at $97.05 with a stop at $101.61. There is some expectation of a secondary offering from Goldman up here at these levels to raise money to pay off their TARP money. You can decide if that's bullish or bearish, that is Goldman selling stock.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units Ultrashort MSCI EAFE ticker EFU @ $89.80 stop at $89.80
Long 2 units Ultrashort S&P500 ticker SDS @ $69.80 stop @ $66.15
Long 2 units Ultrashort Real Estate ticker SRS @ $53.80 stop @ $47.18
Long 1 unit US Gasoline fund ticker UGA $21.85 stop @ $20.38
Short 1 unit Wells Fargo ticker WFC @ $20.20 stop @ $20.20
Short 1 unit Apple ticker AAPL @ $102.05 stop at $103.36
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $86.32
Short 1 unit Goldman Sachs ticker GS @ 96.95 stop @ $101.61

No comments: