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Tuesday, January 26, 2010

Trade - GS

I am playing GS for an expected pop on the testimony tomorrow. After reading this article, there appears to be evidence to show GS was willing to cancel the CDS' provided AIG made payment based on GS' real-estate valuations. Obviously that did not happen.

I think tomorrow will show GS, and the NY Fed, were not to blame for anything.

Also, GS is very oversold (from a short-term and long-term perspective), and a upward correction is due.

Would like to see a move to 165, but I am expecting a move to 160.

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