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Goldman Sachs (GS), a Potential Intraday Play

Published on December 18, 2007

Goldman Sachs (GS), a Potential Intraday Play

December 18, 2007

(for details pls visit www.OptionPundit.net)

GS will have its conference call starting in few minutes time. The stock is down but hasn’t move significantly yet despite the fact that they have beaten both Revenue as well as earning estimates. I think stock price movement is dependent upon the outlook and it’s one of those opportunity when one can listen to call and if interpreted properly can ride the momentum in either direction.  I think it has support around $201 ($193 if it is penetrated) and resistance around $215-217. December expiration stocks are inexpensive (Abs $$) and can help play “speculative move”in either direction.

For overall market, everyone is looking for Santa to provide some relief,

Have fun and profitable trading, OP

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