Stock Trade Update: Short Goldman Sachs (GS)

Posted by admin

July 20, 2009

Sponsor: Secrets Of Successful Traders. Make $300 Per Day

Nice bearish divergence forming on daily chart of GS. GS broke out of resistance @ 151 and has been rising on declining volume as can be seen on the chart below. Now it needs to be seen whether this turns out to be false breakout or not. This can only be tested by shorting GS at the current levels with a hard stop @ 164-165 depending on your risk level.

Shorted GS @ 159.21 with stop @ 165

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

Comment by coinguy on July 20, 2009 @ 5:37 pm

Anybody have any luck with market club ideas,this is not a trade by our buddy admin

Comment by nas on July 21, 2009 @ 9:52 am

Did you buy Puts or shorting the stock directly? Thanks.

Comment by admin on July 21, 2009 @ 10:10 am

These are direct stocks…

Comment by zhangweinuaa on July 23, 2009 @ 2:48 am

gs is so strong, i think it will be 200 in future.

Comment by admin on July 23, 2009 @ 10:01 am

thats where stops play a big role.

if it does go to 200, i’ll be out @ 166 for a small loss

Leave a comment