Last January I sold 1/2 of my position in GS. Since then I have slowly added back GS to my portfolio. In August I added 1/4 of a position at $116.47 and today another 1/4 at $93.
GS is clearly best of breed with a solid market position and a strong balance sheet. I expect GS to perform at the top end of its peers and return to a significantly higher stock price over the next 12 months.
I think it is time to take a little GS off the table after such a nice long good run on the stock. I will put a buy back in at $155.
In the long run, I am bullish on GS and agree with Credit Suisse’s target price of $190. In the short run, I don’t consider GS an ‘outperform’ as CS does. I think GS is due for a pull back and I look to pickup some shares in the next three to six months at my target buy price.
I was disappointed this morning when the market was up 133 points on the Dow. Relax in this market, my bottom fishing trade opportunities are still alive and possible. Here is the latest recap on my bottom fishing buys.
13:13:20 05/06/10 bought 1/4 of my target position in GS. Now holding 1/2 of my target with a cost basis of $150.
Fantastic opportunities once again are presenting themselves to investors. I’m ready with more cash right now.
Goldman Sachs shares dip, but analysts upbeat Wall Street analysts maintained positive views Monday on Goldman Sachs, even though the investment bank’s shares continued to take a hit because it faces civil fraud charges. Wall St suspects GOLDMAN SACHS charges ‘not coincidental’ to financial reform effort Barclays banking analyst Roger Freeman comes right out and … [Read more…]
I’m taking a bit of risk in GS due to the major drop in GS today and the fact that GS will vigorously defend itself. Plus, I wanted back in the stock since I last owned it one year ago. Today was a buying opportunity.
Buy GS at $160 and C at $4.50.
Sold remaining shares of GS at $130.75