Two Ways: Goldman Eager to Un-TARP
Strengthen your portfolio in good times and bad.
Goldman hasn't yet paid back the funds, and doesn't expect to do so until the Treasury finishes conducting stress tests of the major banks. These so-called stress tests are designed to determine financial stability. Furthermore, some believe the government isn't likely to allow any firm to pay back the bailout money early, as weaker banks (the ones that actually need the funds) could be pressured to do the same.
As of 3:00 p.m. EST, shares of Goldman were up 0.37%, to $112.41.
See Minyan Peter's PPIP: New, Improved Vendor Financing.
From the Bull Pen: Nice response in gold today. Bulls can look to Barrick Gold (ABX) for more upside exposure. See the stock fill in its gap after the large reversal. A sell stop can be set below today's low ($31.80).
From the Bear Cave: Goldman is still the best of the banks, but as Toddo noted on the Buzz today, it's up against stiff resistance near the 200 DMA. Bears playing the downside can set a buy stop above that level ($115.50).
Have a great night!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter