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GS trade ideas

GOLDMAN SACHS: when a giant stumblesGoldman Sachs has stumbled and now there is much debate out there about what next to do. As usual some are shouting "enter long now", whilst others are saying "stay out" etc. For me, it's very simple i.e. I just need to wait on a favourable time frame, somewhere between 2 - 6 hourly if I'm to go north. It's difficult to go short as there could be a rebellion of hopefuls heading north anytime soon. A northward push (if it happens) could attempt to test what I see as the base of a not so well-defined head and shoulders on the weekly. The other major problem is that we are in dangerous economic times - far worse than 2008. So, GS could well head into a massive dive just like around 2008. My strategy in the short term: 1. Wait for a pulse north and follow that if it happens on a microtrend (long position). 2. If that microtrend happens to get near the base, I'll be out - then look to short. (Emphasis on the word 'if'). Longer term strategy: 1. If price goes into a deep dive like in 2008-ish probably months away, then look for favourable trend heading north, to go long. 2. Stalk for a double bottom if it happens.
NYSE:GS
by Captain_Walker
1
Are the bears pouncing on GS?Despite potentially bullish fundamentals. technical analysis on GS seems very bearish to me with not only a long-term bearish head and shoulders patter, but also a short-term forming bearish head and shoulders on the right shoulder. The smaller bearish pattern on the larger trend shoulder seems to potentially do 2 things for long-term movement: First, I think it helps confirm the shoulder's completion. Neither head and shoulders pattern has been confirmed or even completed by passing below the neckline. The completion of this smaller pattern and its confirmation would confirm the downward pattern for the completion of the larger 2 year pattern and, therefore, justifying a SMALL long-term, well OTM put position as less of a lottery ticket position in my opinion. I cannot emphasize SMALL enough as anything pre-confirmation is risky. Second, the completion, confirmation, and selloff of the smaller pattern could provide the needed catalyst to force the price to the larger bearish pattern's neckline, and thus making this a possible fast mover thank if this smaller pattern were absent. There is no definite on time frame, but I am expecting the smaller pattern to play oud over the next few weeks. I do not think that this year expirations near the best buy, but a few cheap lotto puts in case of a fast move seem worth the risk for me. My positions will probably focus on April strikes around $200, but that is subject to change.
NYSE:GSShort
by foreigner251
GOLDMAN H&S CONFIRMEDWe are witnessing a softening in the market. The Dow Jones Industrials appear to be a mixed bag. Buying blind is NOT the strategy at this point - it worked for 10 years, now the easy money has been made. As suspected, the mid-term elections have not been without incident, and investors are naturally cautious. Many big stocks are confirming bearish topping patterns - including Goldman. I shorted today, with a target below. This is telling me that the rally in the indicies has stalled for now, and an extended period of consolidation is perhaps on the cards. On the other side, we will see a bullish continuation, in anticipation of a Trump 2020 win. With that said, I am buying any low in the Dow, yet cautious for now, and net short.
NYSE:GSShort
by TheRealPeaches