I thought we’d back off for a few days, but the shorting opportunity shown in the chart is my kind of pattern. Accordingly, I’ll recommend shorting 400 shares at 154.56, two ticks below the target itself, using a 154.62 stop-loss. If the position goes in-the-black by 40 cents, cover half and substitute an “impulsive stop” based on the one-minute chart. (Note: You can substitute puts for short stock, but be careful not to pay up. This implies buying them when GS is within pennies of the target. I am using a price target-based buy because I expect the pivot to work precisely. Put positions should be tied to the same stop as the stock. ______ UPDATE (11:58 a.m. EST): I had a hunch the 43-cent differential between our target and Friday’s closing price might be too delicate to withstand the kind of wholesale thievery that takes place on Monday morning gaps. Anyway, you should have done nothing on the trade, since the opening was above our offer and the stop. Strictly speaking, you could have gotten short and stopped yourself simultaneously on the first trade of the day. Now that DaScumballs have succeeded in unloading a truckload of shares this morning on widows and pensioners, we see that They have since allowed GS to relapse to a so-far low of 151.38 — more than $4 below the day’s criminally engineered high. What a sleazy carnival game our “securities” markets have become!
