Time to Give up on Goldman Sachs?

By Steve Abraham on Mar 08, 2008

Goldman Sachs is a media darling when it comes to financial stocks and the financial media. The Fast Money crew loved Goldman below $200. Everyone talks about how they are the best run financial company and have little to no exposure to the subprime market, etc. They are kinda like Brett Favre in the NFL. Everyone is reluctant to critize them. Well, GS is and has been rolling over big time for awhile and now is bumping up against the August 2007 lows. Its hard to say which way GS is going. If I had to pick a side in this market, I would have to say GS is heading lower. GS is a premium name but right now its not a premium stock.

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This entry was posted on Saturday, March 8th, 2008 at 1:33 pm and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

5 Responses to “Time to Give up on Goldman Sachs?”

By Matt on March 8th, 2008 at 8:48 pm

Interesting chart – will have to keep this one in mind for Monday morning. Goldman’s CEO just got a big bonus last week, so I wonder if the board knows something we don’t. Prediction on earnings maybe?

By David on March 9th, 2008 at 1:12 pm

Cramer predicted the stock would go down, I told my mom to wait for $150 but it may go even lower than that.

Stick with GIGM for now.

By Steve on March 10th, 2008 at 1:58 pm

From what I’ve heard, I wouldn’t give up on GS just yet, perhaps you should put stock trading on hold and try your luck on the forex market? Lately I’ve had great success with a former GS Senior Quantitative Analyst’s product:
http://forexproductreview.blogspot.com/

By Darvastrader on March 19th, 2008 at 9:21 pm

GS – this stock has topped out like many others and is acting technically weak. Anyone in it should exit their positions if it closes below 150. May be a decent short after that. Much better opportunities out there if you wanna be long in this market – have a look at http://www.sharesmadeeasy.com

By dominick on March 28th, 2008 at 11:45 am

Hi, now days there are lots of websites are offering financial news and help, I know one among of them called easystockalerts.com. It allows you to get the news before it even appears on the web. It’s like having a Bloomberg terminal at your desk, but only better! No spam, just very useful, actionable investment ideas.