Goldman Sachs just dropped off a cliff falling over 2 ½ points in about 4 minutes.
This stock has been on an absolute tear and it hit a new 52-week high earlier today. I cannot find any news for the sell-off. However, 100,000 shares were traded during the decline and I believe this may be a case of a lack of liquidity filling in behind the stocks advance, leaving it vulnerable to a pull back.
The market, as a whole, has not responded to GS giving back all of today’s gains. If recent financial leader, Goldman continues to fall, it may prove difficult for the market to maintain its 1.7% advance.
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Tags: Goldman Sachs, GS
Don’t worry about this drop man! GS oh sorry Goldman Bucks is going up from today’s close price of $186.98. I maintain a “BUY” rating for GOLDMAN SACHS Group (NYSE:GS) Stock. Target price before the end of year : $210.
By the way, you should discuss interesting options trading situations in your blog since you are called options house. How about this for example. We saw a huge jump in Alcoa stock NYSE:AA from $12.52 on Wednesday to $13.89 today, Friday. Too much, too fast. How about buying a put for Alcoa October $12.50 stock option. It is down by 37% and trades at 18 cents only !!! If Alcoa will correct towards $13.10 range the option will cost already 50 cents or you could make over 50/18*100% = 270% gain!
By the way can we insert pictures into our comments here ? Otherwise if only you can do it it is not that helpfull.