Didn't Global Alpha lose another couple of bil just the other day? I know, I know, it's only 1% of their portfolio, GS is the "best" blah, blah, blah.... but I say if these guys beat estimates there's some creative accounting going on. Not going long or short into earnings, however. Maybe some way OTM puts just for laughs.
Thanks for the heads up, earnings is Sept 20 before market opens and of course everybody is waiting for Bernanke on Sept 18, 2:15 EST. Those risk adversed should hedge appropriatedly or exit early. This is purely trading on technicals which hopefully will reflect fundamentals or expectation of such. Interestingly, BSC, GS up. LEH, MER, MS down currently. http://biz.yahoo.com/rb/070914/merrilllynch_credit.html?.v=3
Although this trade was initiated on technicals (buying pressure, volume), there is usually a fundamental reason for the buying and this is provided by the recent view (see below) that the financials are over-shorted, under-owned and approaching good value. I don't believe sound financial companies such as GS need to beat Q3 earnings in order for the stock price to go up from here.
I just posted this on another thread. Sticking to my guns on all this. 09-15-07 04:42 PM "Indeed, Hecht expects third-quarter results from the top investment banks to be a "stabilizing" event and advised clients to invest in the stocks ahead of the reports." Is that so. Well no long positions for me on these guys ahead of earnings...not until they've either: 1. Moved above their respective 200-day emas on decisive volume 2. Had an independent auditor crawl up their respective asses to decipher these "esoteric" holdings (liabilities) to the satisfaction of insitutional (volume) investors. Look at their charts. All of them. They've *all* been under heavy distribution for months. These guys are hiding something, I don't care what anyone says. GS was my favorite short for a long time. I don't buy the recent limp-wristed rally in that stock. If and when it gets to its 200-day and *if* it fails at that line of resistence following earnings, I'm ALL IN as a short. I will short that motherfker right into the ground and I will be ecstatic the whole ride down. If, however, it does cross and close above the 200, I suppose I'll be a reluctant long since everyone (volume) seems to like that damn stock so much. Something about shorting GS. It's a beautiful thing." I know it was posted intially as a T/A observaton, and it was a good observation. Still can't quite commit capital to the long side on these guys just yet.
Stock Trdr, as far as I can tell you might just as well be long every stock trading. Just go long everything. Why not.
GS is part of the New World Order and for the past forty years the NWO has been gaining power at an increasing rate. Although I am opposed to the NWO that doesn't mean you can't profit off it.
Say what?? New World Order? Would that be the Woodrow Wilson New World Order? The Bush/Scowcroft New World Order? The "Novus Ordo Mundi" overthrow-the-government NWO? Pick yer NWO and explain yourself.
GS approaching it's long term broken trendline near $207, which happened to be the high of today 9/19/07, so far around 12 EST. This could be resistance here and it doesn't hurt to take profit close to this point. Congratulations to all those who held through Fed announcement. Selling partial position at 205 with entry around 187. This is especially true to those who are risk adverse to holding through earnings, reporting by GS tomorrow morning 9/20/07. Good luck everybody.