4 replies to this topic

[kaiser soze]

http://stockcharts.c...6454&r=3358.png

Take a looksie. 14 period RSI remaining oversold for weeks now (bearish). Borrowing some of Semi's volume analysis, GS made a lower low today on very heavy volume, higher than Feb 27th as well as Mar 13th. ADX at 45 shows no sign of trend exhaustion yet. Unlike many of the other financials, no RSI or MACD divergence on GS.

Finally, whats this news about GS pumping more money into their Global Alpha Quant fund ? I thought losers average losers.

I scalped puts on GS today but sold all of them around GS 159. If they rally it to the 175-180 zone, I'll be buying Sep puts again.

[ogm]

Shot at 2007-08-16

Bullish engulfing candle on high volume. Key reversal ?
RSI and MACD Hist positive divergences.

[kaiser soze]

I noticed those ones too. Look above "Unlike many of the other financials, no RSI or MACD divergence on GS." I would not want to short IYR or XLF right now. Crowded trade. But, two names I am very bearish on IT are GS and BX (did you finally go long BX btw ?). I repeat : target on GS : 119, BX < 1. The kind of moves we saw happen in this leg of selling with the mortgage finance stocks may happen on the next leg with these two names.

[ogm]

Didn't mean to post the charts... don't know how they poped up, sorry... Was just going to post the comment on the candle and histogram.

[beta]

Hi Kaiser, Good trading on those GS puts -- I sold all my Sept puts today (mostly retailers like GES) and will buy them back cheaper in the next 1-2 weeks. Picked up tons of calls EOD. GS went alot lower than I expected on this decline, but IF today's low holds, I think it's headed back to the 190-200 range, before the decline resumes. Rolled into Sept 180 calls and bot LEH 60 Sept 60's. AMAZING trading opps in this market !! /beta

Edited by beta, 16 August 2007 - 10:41 PM.