2/18/2010: Goldman Sachs – Yesterday a problem with Greece debt, today legal problems. Why is this holding support? Because it will. (1:35pm)

February 18, 2010, Posted by ttbm at 1:36 pm

Currently have 2 Comments

  1. scott turkel says:
    February 18, 2010 at 1:54 pm

    is there a long trade setting up in GS? quality franchise name

  2. ttbm says:
    February 19, 2010 at 11:49 am

    We have a short-term call for the SPX that says we should be able to push up again in order to complete the trapping process prior to sustaining a big move down. If this is correct, we expect GS to dig in and bounce. Our short-term trading target is back to $170. GS (155.28)…Our Elliott Wave analysis suggests the bottom for GS was reached at 147.81, and now a bounce to the $170 level should be expected. However, if GS breaks $147.81 we’ll short with a target of 139.55.

    Our longer-term call is to be short GS once the conditions we look for says it’s time to sell.

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