By Dr Joe Duarte | 11 December 2007
Goldman Sachs (NYSE: GS) has yet to deliver significant gains during the market's recent bounce.
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Chart Courtesy of StockCharts.com
| Few things are constant in the markets, but one factor has remained very consistent for the last 12 months, Goldman Sachs shares have been outstanding performers, regardless of the overall market trend. Yet, over the last couple of weeks, as the market has recovered, Goldman has mostly moved sideways. Yes, the shares are above the support level provided by the 200-day moving average. And clearly, the stock has outperformed the brokerage sector. But, the lack of pop over the last few raises questions about the potential for a nasty surprise that may lie ahead. A quick look at insider activity shows no major sales since late October where Gregory K Palm General Counsel & Executive Vice President and David A Viniar Chief Financial Officer & Executive Vice President sold 17,900 shares between the two of them in the open market. Whether that is significant or not remains to be seen, but is nowhere near what was evident in shares of Countrywide Financial prior to its crash. |
Thus, for now, Goldman's flat performance remains enigmatic.
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Normxxx
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M O R E. . .
Normxxx
______________
The contents of any third-party letters/reports above do not necessarily reflect the opinions or viewpoint of normxxx. They are provided for informational/educational purposes only.
The content of any message or post by normxxx anywhere on this site is not to be construed as constituting market or investment advice. Such is intended for educational purposes only. Individuals should always consult with their own advisors for specific investment advice.
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