Sucks to be Goldman right now, obviously. The management must unload this deep, thick cloud of uncertainty if they ever want their stock to appreciate. I do not know if that will happen anytime soon, but there are clear signs to where it can potentially go. (despite its valuation, uncertainty always makes a stock go down)
I do not believe the analyst who suggest GS going to book value or 100. IMO, that completely negates their worst case scenario earnings ability, and as paid analysts, is irresponsible.
A chart that I did not think I would use, needs to be seen. IMO, this is where GS is heading, then I will buy 140 Jan 2011 calls.
This is a 5 year 500SMA daily chart of GS. Look how beautifully it acts as resistance and support throughout the years.
Looks like we are approaching a time when it will act as support.
As it potentially gets to the 142-143 level, there is support around 150 and 147, so it may bounce around first. But if the negativity keeps coming, I am expecting GS to see the 5oo SMA.