Spiga

I'm looking to exit GS




I rarely would recommend any particular equity or trade, but as a holder of GS, I am now looking to sell shares on any rallies. Shorts need to scale into this position over the next several months as we pass 250.00. Final upside target is around 260. Watch insider selling. Look for strong new highs on failing volume for good short positions. Quote today is 232.00

Chart:


Technically, the new highs are not confirmed by my proprietary indicators. All the loose change from other ailing financials made there way into this stock. But the cracks are showing even here. Its setting up for a slow drop. It is being buoyed fundamentally by the strength of overseas markets...level 3 accounting etc... but i think in 2008 the global economy will begin its descent in reduced growth. In 2010, my forecast calls for a unified global reduction in growth that might last 4-8 quaters as we move into 2012. I've held GS since its IPO.

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