Goldman - Sell The News

goldman sachs earningsDespite a very favorable earnings report from Goldman Sachs, the market opened down in early trading. Since then, we have seen it wobble from red to green, but pretty much staying flat. It is obvious that Goldman's big earnings was factored in yesterday, as I said in yesterday's post, so to see the market off a bit today is not a big surprise. In fact, today allows bears breathe a little as there were many who felt (and still feel) that yesterday's rally was the opening to a new longer rally. The down day, thus far, shows that indeed there still remains a lot of concerns for investors in regards to financials, especially with the increasing unemployment rate.

Not only did we get a favorable GS report, but retail sales also beat expectations and had the largest monthly increase in months. A lot of this is due to seasonal change, but in times past that hasn't stopped investors from reacting. Even in the midst of this positive news, we're still seeing a selling day (for the most part). Thus far, I don't see the need to worry much about a new rally, but we could see a closing with fireworks on either the red or green side. All I know, is Goldman Sachs's stock price is very high when you consider the monumental amount of derivatives the institution holds. TBT is becoming very appealing at this moment and has been doing quite well. The Market Club report has been increasing for it.


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