Yours truly was putting out fires yesterday when Goldman vaulted past the 113.23 target I’d drum-rolled. I queried the chat room and no one appears to have bought puts, but if you did please let me know so that I can establish a tracking position. My hunch is that we’ll get a better chance to short this pig, since, when it shot past the pivot, it showed a magnetic attraction to the 118.07 peak recorded in October. To make our effort to get short fun, I’m going to suggest getting long while we wait to get short. (This is probably what I should have suggested in the first place, since the 113 target had allowed plenty of upside.) I see no set-it-and-forget strategies for doing so at the moment, but you should stay tuned in case Goldman stumbles and give us an easy entry opportunity. _____ UPDATE (10:36 a.m. EST): Far from giving us an easy entry opportunity, Goldman has been short-squeezed sharply higher today on an opening-bell gap. This is all to the good for us, however, since it raises the prospect of a shorting opportunity near 120.70, a Hidden Pivot that is coming into focus. At that price, the stock will have rallied 42% from the October low at 84 — quite an achievement for the scumbuckets who have manufactured this last-gasp opportunity to distribute their shares!
