Saturday, March 28, 2009

GS possible Monday Scenario (March 29, 2009)

Unlike OIH which sold off harder due the strengthening dollar....

The behavior of most financial stocks indicate possible sideways price action at least until the month end window dressing activities are over.

The chart below shows that GS still has not taken out a key support at 106.56. Therefore I am still neutral on taking any medium term short position. If I do go short on Monday, I will likely get out before the end of the day. A break of 106.56 should confirm that GS is heading for 94, 99.


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