Tuesday, July 14, 2009

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.

0 Comments:

Post a Comment

<< Home