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Last Update: 9.4.13
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8.27.13 Tuesday
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[Morning] Entered Put Positions @ $156.30
(Chart screened 30mins after open)
I have been stalking $GS for a while now and I never had chance to really get into a trade until this morning. Last 4 days, I have been watching it very closely as $GS starting to break below this major uptrend support and not mentioning MACD bearish divergence that has been in play quiet sometime now. So this morning, I decided to entered puts at around $156.30 about 30mins after market open (I waited a bit as I was anticipating that quick pop up for better entry).
[After Close]
Next target at around $150.00. We break below $150.00 support, that would be a massive double top reversal confirmation and that pressure can carry this stock to go down to about $138ish.
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8.29.13 Thursday
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Bear Flag
We’ve been bear flagging along the way and it seems like we have formed another bear flag (last two days) but because we had doji yesterday and with white body engulfing (today) over yesterday’s doji, it might be a bull engulfing pattern but with low volume on today’s candle (and declining volume last two days), I think it favors bear flag argument. I wouldn’t be surprised to see another day of “grinding higher” move like two other bear flags but I think early next week, high probability it resumes with lower prices. $150 is next support but I think we can break that level (once this bear flag confirms) and my ultimate target is about $140ish.
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9.4.13 Wednesday
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[Before Close] All Put Positions Closed @ $156.43
(Chart screened 40mins before close)
I had such a great entry on this position that I was able to really minimize my loss. I still think it looks bearish but with the broad market looking very bullish today, I thought I close all of my put positions here.
