Sell on Goldman's good news
It shouldn't surprise anyone that Goldman's trading gains greatly exceeded expectations. Typically make about a quarter of NYSE trading volume passes through Goldman (Zerohedge: Goldman Principal Transactions), and that share has been growing.
What is somewhat revealing is the action of the futures this morning--up before the announcement, flat to slightly down afterward. What do the charts suggest?
SPY--Probably a good time to short:
QQQQ: Still probably a good time to short
The Diamonds (DIA) are the weakest of the bunch, and look like they are in the best position to get short.
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