GS – Short Trade

I have been very bullish on the financials ($XLF) but the market is starting to look a little tired, and I think the financials will be dragged down too. I got short Goldman Sachs ($GS) today, and am looking for a selloff into next month. The next good looking daily demand is 173.27.

GS - Daily - 26 September 2014
GS – Daily – 26 September 2014

My entry is a somewhat tiny 15 minute zone, but to me this short term price action is telling. $GS failed at the highs earlier this weak, and is now starting to break down in my opinion.

GS - 15 Minute - 26 September 2014
GS – 15 Minute – 26 September 2014

I closed a bunch of trades today, and sit largely in cash, looking for tactical opportunities every day. Now is not a time to be loading up for the long term.

 

There are also a number of opportunities to get short in some other names, and I have resting orders to sell. These names include

  • AAPL
  • CRM
  • CSCO
AAPL - 60 Minute - 26 September 2014
AAPL – 60 Minute – 26 September 2014
CRM - 60 Minute - 26 September 2014
CRM – 60 Minute – 26 September 2014
CSCO - 60 Minute - 26 September 2014
CSCO – 60 Minute – 26 September 2014