Stock Trade Update: Short Goldman Sachs (GS)

Posted by admin

October 23, 2009

Finally, it looks like Goldman Sachs (GS) is indeed vulnerable to the down side. With that in mind, lets short GS and see if it breaks below its 50 DMA (176). I took a good chunk of position in GS short trade at 183.29 with a stop at 20 DMA (185).

On the long side, I have closed my position on Iamgold (IAG) which I don’t think would survive the downward pressure of the overall market. I closed out at 13.94 (bought at 13.71).