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Friday, September 17, 2010

Debating GS

GS looks interesting to me. Right now it is sitting on its 10SMA. If GS is about to enter a momentum rally, then now is the time to buy it. (I would do it via the Jan 140 calls)

When I think of the reason for GS to be entering a momentum rally, I can not realistically convince myself. So I do not think it is entering a momentum rally. As such, I will enter GS if it sees the 38 SMA, around 148 or so. Then I think it can push to 156ish.

(I can see it getting a big pop upward with a favorable exit of its proprietary trading arm.)

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