Smoking Securities

Half Baked High Finance

Posts Tagged ‘GS

Twitter Ticker ($GS)

leave a comment »

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.

Written by chucklesamadeus

July 6, 2009 at 10:21 pm

Twitter Ticker ($GS)

with one comment

gs090413Goldman Sachs continues to move higher, but the recently announced $5 billion stock sale signals waning confidence within the group. Lindzon posted a great piece here about some problems with the sector.

GS has stymied me a bit, and while their practice suggests unlawfulness, the message of the market remains up. Friends of mine who remain invested with these dogs are elated to see high prices, but their inclination to sell is strong, and itchy fingers are prone to panic.

Fundamentally and emotionally I say sell, but the technical trader in me refuses to deploy any short position until this surge abates.

Written by chucklesamadeus

April 13, 2009 at 8:18 pm

Posted in GS, Twitter Ticker

Tagged with ,

Twitter Ticker ($GS)

with one comment

Goldman Sachs (GS) is in the spotlight in lieu of American International Group’s (AIG) counter party revelations.

gs090316

GS is mired in resistance, and though it has enjoyed an uptrend since November, its days are numbered.

The Bloomberg take on the AIG story can be found here.

This is what I took from the article:

AIG spent billions of dollars since its bailout to pay collateral to GS, Deutsche Bank and others that traded securities with AIG.

Henry Paulson, former CEO of GS, saved AIG as Treasury Secretary. He also appointed AIG CEO Edward Liddy, whom he knew from the board of GS.

Now that is how you hedge! Who needs to trade electronic promises when you have the Treasury Secretary and CEO?

Afraid your counter party is retarded? Don’t worry! For a limited time, you can insure your trade by leveraging taxpayer money!

I remain impressed by the cojones of our robber barons.

Written by chucklesamadeus

March 16, 2009 at 3:14 pm

Posted in AIG, GS, Twitter Ticker

Tagged with , ,

Ouch

leave a comment »

After losing ~4% of my equity in various long plays, I called it quits on Monday after the QQQQ’s breached 30.50 and went back into cash, the dollar (UUP) and some shorts. This market felt too heavy to rally, and time is working against it as GS and MS sag lower and lower, potentially sparking another Lehman-esque sell off. Since last November, I’ve seen ~15% of my trading capital disappear, which is very disappointing because my benchmark (a passive hedged portfolio I started in November of 07) has lost 10% in the same period (pathetic). Though I can find solace in beating the SP500, this is hardly a way to make money. Fucktastic… Nevertheless, like a true addicted gambler, I’ll stay in the game and ride the wave until I’m broke.

Written by chucklesamadeus

November 11, 2008 at 4:25 pm

Posted in GS, MS, QQQQ, UUP

Tagged with , , ,