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Tag Archives: GS
Market is looking ready to continue its bear rally
Despite my pessimism, I think this bear rally may have steam to go even farther up in this run before the final flush down. Here’re my reasons. 1. We have touched the 38% Fibonacci retracement level precisely last week and have been making higher lows. See Figure 1. 2. As I noted in the morning, [...]
SOLD -1 GS 100 APR 09 105 PUT @9.55
I’m out of GS short, which I bought at 8.72, with a small profit. This gap down today only attracted some light volume. And we’re hitting the support of $100. Light volume on a test of a strong support isn’t good. So I’m lightening my short here since I still have my GE strangle to [...]
Goldman Sachs, is it up or is it down?
After much waiting, Goldman Sachs (GS) is still not giving up the $110 level. I entered my short on Monday when GS was about $106.50. Having regretted it that very day as GS launched vertical upward near the close to above $110. Then yesterday, GS threw a fit and made wild swings up and down, [...]
Goldman Sachs fooling around $110
No, I haven’t unloaded my GS short yet. I said I would unload it if GS manage to stay above $110. But it closed at $110.60 yesterday. I can live with a $0.60 difference. I watched GS for most of the day yesterday. It’s action above $110 seem a bit lackluster. Looking at the chart, [...]
BOUGHT +1 GS 100 APR 09 105 PUT @8.72
Once again, I find myself on the other side of the fence. I entered a short at 10:42am today thinking the gap up is unsustainable. Well, not only has S&P500 broken 800, it’s now resting above 820. Goldman Sachs (GS) was about 106.50 when I entered the short. GS closed at 111.93 today. I’m down [...]
Market Weekly Review: March 17, 2009
Last week’s market reacted as planned. We held the S&P500 680 support level on Monday and shot up from there throughout the week. This 750 – 800 level as discussed before could form a trading range for the next few days. However, note that both the S&P index and Goldman Sachs (GS) are testing the [...]
Sitting on my hands prior to the holiday
I’ve nearly pulled the trigger today on adding some shorts. Then I decided against it because there’s no action in the market and no good confirmation. My 50% long, 25% short, and 25% cash distribution seems alright for now. But Figure 1 below leads me to want to add more to the short side. As [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
How Goldman Sachs Robbed You and Me of $3 Billions in 3 Months