Stocks for the Rest of Us
Monday’s Open Is Going To Be Rough
With Lehman Brothers facing bankruptcy protection and Washington Mutual teetering on the edge it looks like we’re going to be testing the July lows sooner rather then later. Monday should provide for some extraordinary trading opportunities as we will most likely open down 3% on all the major averages. If you’ve got the stomach, you’ll be able to pick up some Goldman Sachs on the cheap. So far, my best trade to date this year was buying Goldman Sachs the day Bear Stearns collapsed. It was an 18% trade overnight. This Lehman debacle will undoubtedly produce the same opportunity but whether or not the outcome is going to be the same is anyone’s guess. Let’s not forget that Goldman Sachs is actually still quite profitable. If you’re going to trade tomorrow be sure to keep those stops tight.
| Print article | This entry was posted by brian on September 14, 2008 at 8:50 pm, and is filed under Focus Trades. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |