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GS, Buy or Stay Away?
- Thread starter Softgiant
- Start date
Let me give you some advice assuming no daytrades.
It's one thing to buy a strong company when the whole market is at oversold levels.
It's another thing, to buy a company under serious accusation by the SEC when the market just finished doing a new 52 high.
GS right now is too speculative, forget about it, whether it goes back to 200+ or crashes down to 0, just forget about it, and in the future, don't let hindsight trick you into thinking you should have done this or that, this could misled you into thinking such trade was safe, when it's not.
There are far better and much safer trades out there.
This one spells uncertainty.
Best of luck to you.
It's one thing to buy a strong company when the whole market is at oversold levels.
It's another thing, to buy a company under serious accusation by the SEC when the market just finished doing a new 52 high.
GS right now is too speculative, forget about it, whether it goes back to 200+ or crashes down to 0, just forget about it, and in the future, don't let hindsight trick you into thinking you should have done this or that, this could misled you into thinking such trade was safe, when it's not.
There are far better and much safer trades out there.
This one spells uncertainty.
Best of luck to you.
Bad news is more often than not, followed by MORE bad news. Any more negative stories will effect the financials, including GS.
Earnings are next week, so keep watching for entry IF you're set on playing it.
Earnings are next week, so keep watching for entry IF you're set on playing it.
Quote from Softgiant:
thanks no heat, your advice is exactly what my instinct and thoughts are telling me but wanted to hear some other points of view.
I have done well off the financials over the past year, and i think it may be time for me to look to anotehr sector for more modest and safe gains
My pleasure, glad to see you on the right track.
If you really like it that much and just feel like you just must have it buy options!!
A 175 GS May call will cost you around $350 and this is the absolute most you can lose....you basically pay $350 per 100 shares to find out if your idea is right - GS goes back to 190 by expiration in may - you can own the stock and be up 15 points minus the premium you paid on the option and be up $1,150.00 per 100 or just kill the option and book a bit over a grand....
If it doesn't go up that much or it craters you're still risking $350.00 per 100 to find out....
If you're right you have a headstart on a position, but you won't risk losing $2-3K per hundred if the fucker gets more news, gaps down $20-$30 or gets halted....it's all happened before and god only knows how much more dirt can come up...
A 175 GS May call will cost you around $350 and this is the absolute most you can lose....you basically pay $350 per 100 shares to find out if your idea is right - GS goes back to 190 by expiration in may - you can own the stock and be up 15 points minus the premium you paid on the option and be up $1,150.00 per 100 or just kill the option and book a bit over a grand....
If it doesn't go up that much or it craters you're still risking $350.00 per 100 to find out....
If you're right you have a headstart on a position, but you won't risk losing $2-3K per hundred if the fucker gets more news, gaps down $20-$30 or gets halted....it's all happened before and god only knows how much more dirt can come up...
Quote from Softgiant:
Have money on the sidelines, and its asking to be put into the ballgame.
Is GS a buy right now or stay away from it?
Predictions on a floor for GS?
Will the market get shaken again from overseas markets?
I would be curious to other sentiment.
I bought 700 average price about 159.55 as a swing/long term trade(depending on the action), in my overnight account, my stop is going to be if it breaks all the congestion in around 150, i will add another 700 around 153.
Logic behind this trade is as follows, there will be goldman upgrades in the next few weeks, for sure,(as these crooked assholes bail themselves out) and also this whole thing in court will not pan out for years, thus any fines goldman is forced to pay are 2-3 years down the road. Goldman will never come out and admit they are wrong straight up, they will fight this thing tooth and nail. Also goldman has a habit of beating earnings so i think this is good as their earnings are soon. That coupled with the fact that the market did not completely collapse on this news today tells me there is still someone out there propping the sandp up. I am a little worried about the weekly chart on the sandp though. I will lose about 10% of my long term account if i am wrong, but my long term account right now is only equal to about 1 year of my average yearly earnings from daytrading so im not to scared, I have a lot of conviction going long Goldman here. Normally what was said earlier holds true, if there is ever fraud allegations i steer clear of it, and i never touch accounting fraud, however this time its different...... lol famous last words. Time will tell. I am not a very good long term trader, so dont follow my advice, but once in a while I see what i think is a good opportunity and i go in heavy.
I like this play, as i know a lot of good traders who bought calls today, I still dont feel knowledgable enough in terms of options. I need to learn more with them, but i have spent my whole career just trading stocks straight up.
I am a little worried about my position on monday as the general public is just learning about this tonight which might mean sell on monday, however the general public is not even involved in this market right now(for the most part), but institutions are licking their chops on any dip we see, monday will be interesting. Wish i would have peeled half off at 165 earlier so i had a free trade essentially.
I am a little worried about my position on monday as the general public is just learning about this tonight which might mean sell on monday, however the general public is not even involved in this market right now(for the most part), but institutions are licking their chops on any dip we see, monday will be interesting. Wish i would have peeled half off at 165 earlier so i had a free trade essentially.
Quote from BartS:
If you really like it that much and just feel like you just must have it buy options!!
A 175 GS May call will cost you around $350 and this is the absolute most you can lose....you basically pay $350 per 100 shares to find out if your idea is right - GS goes back to 190 by expiration in may - you can own the stock and be up 15 points minus the premium you paid on the option and be up $1,150.00 per 100 or just kill the option and book a bit over a grand....
If it doesn't go up that much or it craters you're still risking $350.00 per 100 to find out....
If you're right you have a headstart on a position, but you won't risk losing $2-3K per hundred if the fucker gets more news, gaps down $20-$30 or gets halted....it's all happened before and god only knows how much more dirt can come up...