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Getting long GS now will be a good play – BUY BUY BUY, BUY BUY BUY

Goldman Sachs, hammered on rumors and the credit crunch. The talk of the fed rate cut as much as 50 basis points. Moreover, at 175-180…GS is a steal. I thought of getting some if GS at 175….but just couldn’t pull the trigger….was looking for that bottom. Just got long at $176.8

Replied to a comment yesterday that I would not buy untill Monday if the fundas or rumors didn’t change. But today’s fed injection urged me to get in long. And moreover, even ifwe have a 25 basis point rate cut…that’ld take GS to higher than 205 in no time. GET LONG. DON’T GET CAUGHT SHORT NOW. This is the time to cover the short positions.

Looks how we bounced back around 175 (yya today was helped with that injection). But, that’s a short term double bottom now.

This one is on a great buy spot.

Good Luck

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August 10, 2007 - Posted by | Blogroll, Long Term

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