Goldman’s $10 short-squeeze on Thursday/Friday topped at exactly 151.25, a single penny above where we’d expected. Since some subscribers are likely to have laid out shorts at the 121.24 target I’d drum-rolled, I’ll establish a 400-share tracking position. Because the pullback so far has gone as low as 148.75, partial profit-taking was most definitely in order. I’ll assume 200 shares were covered at 150.00, giving us a profit-adjusted cost basis of 152.49 for the 200 short shares that remain. For now, tie them to a stop-loss at 150.51. _______ UPDATE (9:55 a.m.): Cover an additional 100 shares now, with the stock trading for around 146.60. That will leave us short 100 shares with a profit-adjusted cost basis of 157.13. For today, use a stop-loss for the remaining round lot at 149.97.
