Cyclical action in Goldman Sachs (GS) could mean that its a buy
Updated
Since the March, GS has rallied in the first half of each month and sold off in the second half of each month. Now it has broken its short-term downtrend and it could be time to buy. I would use $220 for a stop out because that has been the recent low. I would sell it when it breaks the uptrend...which I assume will be sometime during the middle of the month.
Trade closed: target reached
So GS is now trading around $230. Once again it rallied in the first half of the month. It is very interesting how this thing has traded like clock work since March...fist half of month up, second half of month down. It very unusual and I will continue to follow it.Note
Ended up selling at $230 is at $236 today...my biggest weakness in trading is selling my winners too soon...and I did it again here....ughh...
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