Smoking Securities

Half Baked High Finance

Twitter Ticker ($GS)

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GS090706Goldman Sachs is hot on StockTwits as rumors swirl around the Beast. Oil price spikes, NYSE reporting irregularities and stolen computer trading codes aside, GS has the usual conflict of interests and conspiratorial malarkey to banter about.

Nevertheless, the stock has been ripping since March, and remains in an uptrend above the upper Bollinger with a rising 20sma, bullish no matter how you slice it. My personal suspicions not withstanding, GS would have to break 135.77 for me to consider getting bearish.

The potential for resistance and sideways consolidation due to supply from 2007-2008 is real, and despite a 300% rally, GS has yet to recover to Sept 2008 levels. With the market churning sideways and looking weak, GS remains resilient but vulnerable to prevailing market sentiment.

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Written by chucklesamadeus

July 6, 2009 at 10:21 pm

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