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Sunday, June 27, 2010

lighting up GS

Over the next few days, buy/sell signals will be flashing for the Goldman. The chart set up is very interesting, and the next few days will be telling.

The negative trend, and lifeless lingering, of the last two months looks to be breaking.

Its no surprise that I have been bullish on the name. Now that FinReg is completed and certainty creeping into the minds of traders, the set up may lead GS to test the high 150s.

I will look to sell around 156, as per the weekly, this is the first SMA resistance.

(Although, if feeling very aggressive, the upper range of 170ish is a possibility.)

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