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Tuesday, March 4, 2008
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8 comments:
No. Not even if it breaks below support by a little bit. I would say that an April Call option might not be a bad idea.
hahaha. haven't thought about a possible april call option. I am going to do a paper trade on that tmrw. I'll do a paper trade since i do not trade options.
hey, when do you plan to answer the question you asked? Would you short this stock and if so under what conditions?
hmmm...I like the challenge you posted Stewie.
After review the GS charts, I am waiting for 157 to take out before consider call option or long stock.
if I was swing trading I would short this one. of course, you have to very careful with this one and maybe even hedge with some options.
well, since i posted a monthly chart of GS then my timeframe would have to be a longer time one, then NO, i would not short GS here. This stock is way too extended with indexes right support and very oversold, making GS a very dangerous short here and would rip, 20-40 pts and still be in a downtrend. I'd prefere to see see it get to $200 before establishing a longer term short position in it. right now, it's just way too extended to the downside making it a very risky or a very short term short.
It's certainly at a critical level isn't it? Price on the weekly touched the 208-week EMA, and on the monthly the 48-month EMA; in other words the 4-year average.
On the daily chart we saw yesterday a Morning Doji Star reversal pattern on very large volume. Personally, I would be looking to buy, at least back into the $175 range.
Thanks for the post Stewie. I enjoy thought-provoking (and analysis-provoking) posts like this. I like reading the comments, perspective, and opinions of others.
Stewie: I like this exercise, and I hope you would continue to post this kind of challenge weekly or at least once a month so everyone, including myself, can learn from other great traders'.
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