Monday, January 11, 2010

Double Negative

It is not insignificant that GS is already on a WEEKLY SELL SIGNAL, had retraced enough of its initial decline to kiss the trade trigger line (navy solid line) and appears to be turning down again.

GS Weekly

Meanwhile, the Daily chart is showing a preliminary fresh SELL:

GS Daily



T said...

How does the action of one particular stock,relate to whats happening today in the greater indexes,or in relation to other stocks.?

In other words,while GS may be looking as you describe,90% of my stocks are UP 2 -3 % today,and the greater indexes are holding steady at mid day,from an opening Up ,followed by a retrace down,and now holding even,and looking more up than down for the day.

How do you read the market today?

Gold miners up today.oil down.
stem cell biotech up
upwrf (oil explorer) up
trgl (oil explorer) down,pulling back from a big surge up last week

and NNVC up nice today.

Is it possible that we might see some decoupling of individual stocks,or sectors, from the major indexes, a return to fundamental factors driving individual stocks ?

I'm encouraged by what I'm seeing today.

Your thoughts ?

Allan said...

GS -3.37
GOOG -6.15
BIDU -4.11
AAPL -2.16
AMZN -3.31

khalid said...

I gotta be honest here.
I've been checking out Allan's blog for over 3.5 years but I don't know what I'd do if Lucky stopped posting...
Vai, vai, vai, vai, não vou!!!

Anonymous said...


Impeccable taste in music, but your far too kind! lol

Thanks for the compliment and thanks to Allan for the WATER TO DRINK


Mike said...

hung up on a little boy george over here...

at least with trend following...we steer clear of the song's title.


Anonymous said...

Bought the GS April 220 Puts on the close today. Only $0.83 of time value per option or about 1% of purchase price. Lets see if the daily prices follows the weekly trend.


Anonymous said...

Yes I AM smarter than the lines.