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Thursday, July 15, 2010


Nice to see a major overhang lifted. As GS pushes upward, the stock will see some resistance around the 150-160 level, but a stronger resistance to breach will be low 170/high 160 (via the weekly). Although I really like the swooshing the daily chart has created.

What will earnings do? That is obviously the next question. What we do know...

1. The street has very little expectations on earnings.

2. The last few earnings (they crushed) the stock was punished.

3. Do to uncertainty of FinReg and the SEC, the stock is under-own by the big boys.

Maybe, just maybe, GS does not crush this go around and the stock rallies to the mid 160s thanks to the certainty that has and will be entering the name.

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