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Long GS At $160.15

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October 27, 2010 – Comments (1) | RELATED TICKERS: GS

Two new positions today in the portfolio - the first one was Walt Disney (DIS), and the second one was Goldman Sachs (GS). The latter of which is shown for you below. Notice the clear breakout. I typically wouldn't buy a stock in financials based on the their recent weakness, but today offered some hope as they actually showed a lot more strength than the general markets. Out of all the banks, I don't think you will find a better chart than Goldman Sachs (GS). 

Here is my chart analysis on GS.

1 Comments – Post Your Own

#1) On October 27, 2010 at 9:56 PM, ikkyu2 (99.15) wrote:

I think my favorite thing about GS is that there is no one with a vested interest in the stock with the capability or know-how to move or manipulate a market.  Some stocks have insider ownership that know how to manipulate a stock price or even a stock chart, pumping and dumping at liberty for their own profit.

Luckily, there's no one at Goldman smart enough to understand how to make something like that work.  That's not their line of business at all.  So their chart appearance is sure to reflect just the natural action of supply and demand!

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