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Tuesday, March 31, 2009

Goldman Sachs: Short Again

Goldman looks like a good short again. I grabbed some on the first signs of weakness off the 200 day EMA (green line). I'm looking to add on strength with stops above $115.00.

Because I don't trust this pig, I use options and various short option strategies. I trade the stock intraday, but never hold it overnight.


Anonymous said...

I have recently discovered your blog and have read it everyday since.
I wanted to know if you can comment on the short option strategies you use (in general does no have to be for GS or any other index/stock)and how you play the options.

Clyde said...

You are probably right since I threw in the towel on Goldman last week, have not made money on it in 2 years (net). Maybe next summer the banks will be nationalized before the midterm elections as popular support continues to build for the takedown. Until then I will trade the XLF instead.

Josh said...

I know what you mean. I actually went long a few days ago (around $101), and then scared myself out of the market. When I looked at the chart a few minutes later it was trading at $111 !

Josh said...
This comment has been removed by the author.
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