..on break of the 175 level.
GS's bounce has been very weak in the last week.
Low volume..I know but thats probably what everybody is thinking.
Bought a small position in GS puts..
Started by
kaiser soze
, Aug 28 2007 09:09 AM
7 replies to this topic
#1
Posted 28 August 2007 - 09:09 AM
#2
Posted 28 August 2007 - 10:10 AM
Update: GS just broke 174.
#3
Posted 28 August 2007 - 12:17 PM
Bought another small position this time in Blackstone (BX) puts.
I definitely dont like my entry here, getting in when the stock is already down 3.5 % on the day.
But then with the exception of the homebuilders, the brokers and private equity look like THE weakest groups out there.
#4
Posted 28 August 2007 - 01:21 PM
GS broke 173. so far so good.
#5
Posted 28 August 2007 - 03:01 PM
Closed all GS and BX puts because A 90% downside day is often a sign of near term climactic selling.
GS puts netted a nice gain. Breakeven on BX puts.
I will reload the puts per market conditions. Absolutely no doubt that brokers are very very weak.
GS : -4 % and odd
LEH : -6%
BSC : -3.4%
MS:-4.6%
XBD : -3.4%
#6
Posted 28 August 2007 - 03:09 PM
you are one of those people to whom i listen carefully; thanks for sharing that. good luck with your trade, sir.
#7
Posted 28 August 2007 - 05:32 PM
Thanks for the kind words. Good luck with your trading as well.
#8
Posted 29 August 2007 - 09:14 AM
GS now trading at 168.29 down 1.5% already. Does this stock have any bids or what ?
As usual I closed my puts too early. The climactic selling yesterday left the room open for a nasty gap up today,which happened-but guess what financials stil keep going down !