GS Short

stideas · Nov 2, 2009

GS looks shortable here at 172-173 with stop around 175...

GS seems to be forming a head and shoulder top with the right shoulder being worked out on the daily chart. Ideally you'd want to see the right shoulder formed below the left shoulder and in GS's case, it should also be below 50 DMA. Also the neckline of the h/s formation seems to be declining.

50 DMA is also acting as good resistance and failure to break above that would result in the test of support around 150-155.

See the chart:

http://stockcharts.com/h-sc/ui?s=GS&p=...id=p94469010216

sti

songcon · Nov 2, 2009

stideas said:
GS looks shortable here at 172-173 with stop around 175...

GS seems to be forming a head and shoulder top with the right shoulder being worked out on the daily chart. Ideally you'd want to see the right shoulder formed below the left shoulder and in GS's case, it should also be below 50 DMA. Also the neckline of the h/s formation seems to be declining.

50 DMA is also acting as good resistance and failure to break above that would result in the test of support around 150-155.

See the chart:

http://stockcharts.com/h-sc/ui?s=GS&p=...id=p94469010216

sti

The MACD oscillator of the daily chart in the Gallery seems to provide a better picture of how weak the chart of GS is
http://stockcharts.com/charts/gallery.html?gs

irastorza · Mar 14, 2010

I think there's enough oil in the tank to reach 250

The Expert · Mar 16, 2010

More like 100 maybe ?

TE

Prawnsandwich · Mar 16, 2010

Not so sure...weekly charts indicate bullish MACD crossover,although price is at resistance...might be worth holding off on short entry till further confirmation.....

The Expert · Mar 16, 2010

So how does a few lines crossing over one another enable one to anticipate what might transpire?

The chart above is not actually too bad, but it is missing a few little things that could make all the difference to some!

TE

The Expert · Mar 16, 2010

Do you see a man stretching out his arm?

The Expert · Mar 16, 2010

What will happen if he over reaches?

The Expert · Mar 16, 2010

Will he stumble, or will he fall ?

The Expert · Mar 16, 2010

Aha, maybe this is the thread to trade in, I will think about it and see what my mind develops?

Prawnsandwich · Mar 16, 2010

The Expert said:
So how does a few lines crossing over one another enable one to anticipate what might transpire?

The chart above is not actually too bad, but it is missing a few little things that could make all the difference to some!

TE

It simply means that there is upwards momentum on a larger time frame which a short would go against ...

One might look at the chart in the past at points where "a few lines crossing over one another" and see what happens to price....

Also, without looking at any indicators or moving average, the daily candles indicate a clear uptrend...

As I said price is at resistance so it remains to be seen whether it will push on through or reverse....

amit1986 · Mar 17, 2010

You want to take a short on the world's biggest investment that also recently reported record breaking profits and has also sustained the financial crises quite well with very healthy profits?

I'm a technical man myself, but that is only through intraday trading. I'd be quite worried if I had taken a swing short over a few days on GS. Just my two cents though.

Amit

irastorza · Mar 17, 2010

The Expert said:
So how does a few lines crossing over one another enable one to anticipate what might transpire?

The chart above is not actually too bad, but it is missing a few little things that could make all the difference to some!

TE

for example?

irastorza · Mar 17, 2010

The Expert said:
Will he stumble, or will he fall ?

what is your reason?

The Expert · Mar 17, 2010

I do not swing US stocks, but, that does not mean that I can not join in and give my opinion on others threads!

Trying to predict the future is a mugs game, but, you can still make good money if you are only right a fraction of the time, providing you know how to trade correctly!

TE

Prawnsandwich · Mar 29, 2010

The Expert said:
I do not swing US stocks, but, that does not mean that I can not join in and give my opinion on others threads!

Trying to predict the future is a mugs game, but, you can still make good money if you are only right a fraction of the time, providing you know how to trade correctly!

TE

What was the future you tried to predict again....100 did you say?

Why not give an opinion on what you know nothing about...you are The Expert ...!

N Rothschild · Mar 29, 2010

cant believe people actually invest their own money in stocks by using the MACD..the mind boggles..

Prawnsandwich · Mar 30, 2010

N Rothschild said:
cant believe people actually invest their own money in stocks by using the MACD..the mind boggles..

So who does that then..?

N Rothschild · Mar 30, 2010

the people talking about macd in this thread ?

Prawnsandwich · Apr 7, 2010

N Rothschild said:
the people talking about macd in this thread ?

Fantastic contribution to the thread.....you may not actually have read the thread but you if you had you would have noticed that a bullish MACD cross over on weekly charts was part of an analyis which suggested that the OP should not have taken a short at that time, and it subsequently turned out that he would have been stopped out of his position had he taken that short.....

Maybe he should have been down in the pits with the real men swinging his big balls around eh?!

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