Right at the low, before this blog came into existence , I argued that on the basis of this pattern, a very clear a-triangle b-c the stock should trade back to about the apex $150/$170. So far the stock has complied by playing along e-wave rules, from the lows it is up about 300%. Given the wedge-like upmove I would certainly get out here.

Sometime back in October  9 ( before this blog) of last year I put out a view that GS would trade back to $160. I was not at all sure that I should myself believe that but that is precisely the nature of having a method. In the meantime we are closing in on that target even though I would not stick around for more then one single cent beyond $140 (overlap, depending on count). So why are these guys so hot? Typically we call it “inside information”, it helps when the treasury guy comes from your shop having made a few Bln’s for himself shorting the mortgage market that un till recently he was supposed to save. Wait a few years and GS will revert back from a bank to an broker dealer. There are no principles here other than make as much as possible no matter at who’s expense., otherwise known as the survival of the fittest. Unfortunately  fitness has absolutely nothing to do with it.

By the way, this is a standard a-b-c if we do go to $160, otherwise another wave down could occur provide we do not exceed $140.