GS trade ideas
$GS - Down 20%-30% over next 8 months. So this is really about it be it, lol. For anyone that can argue this - feel free. Fortunately, not all financials are AS bad as $GS looks, but they don't necessarily look great either (technicals, at least). I've been MORE than bearish on financials for some time now, but really $GS is what I've been focused on because the underperformance is just unbelievable. To make it easy, this is the epitome of how I determine a volatile ass correction vs. the start of a real bear market. 2015 - 2016 wasn't a bear market, but solid ass corrections. $BMA for example (2nd largest private bank in Argentina), at this very moment is @ the point it starts a true bear market, or the start of a correction. Old (June 6th) pic - New pic - Back towards end of July, I noticed $PFG (Iowa based insurance company) - Was around April 2018 the performance of insurance groups & (most) banks started to fall off a cliff in regards to performance - think Fed raised rates sometime around end of March, but within a month & a half even $AIG is down -25% since February. Something is obviously going on - not sure how much Turkey or Argentina or even housing would have to do with it, but like I said if you have an argument - I'm all ears.
You can look @ it on chart, but just in case nobody does that off rip, I'll make it even easier.
$PFG 2008 -
$PFG 2009 -
$PFG 2018 -
$PFG - 20?? -
Goldman Sachs: Most signs are pointing up This will be a short post because there is a lot of verbiage in the chart. Generally while I definitely see a few bearish signs in Goldmans chart most are relatively bullish. Keep in mind these are weekly candlesticks used to project what may happen in several weeks or potentially months time so don't infer anything about day to day movements from this analysis. Questions and criticisms welcome, thanks.
GS -- something to watchWhen I look closely at GS, I can't help but get a nagging feeling that we aren't done with downside yet. In my earlier notes, I expressed my desire to buy at the 212-208 region, and when I re-work my calculations, that precisely what I still want to see.
Earlier this week, I mentioned that GS was approaching supports. I am currently of the opinion that the supports will NOT hold, and instead we will slice into the 212 regions by end of August
