Again, sorry about the sizing of this chart. Ok Goldman is clearly at the support line of 157 (green line) that is held by the V-bottom put in on August 16, 2007. Friday's close was 156.86, earnings are on Tuesday. The regression channel I drew has a width of 2SD and is pulled from the 247 level. The top of the channel is 182 and the bottom is 141. With earnings on Tuesday look for a big move, the ATM 155 straddle is pricing in a 15 point move either way, that would be 142 on the down side , which is the bottom of the regression channel and 172 on the up side. Diffucult call going into the earnings, but for the market to reward Goldman they are going to have to announce they discovered how to make gold from water or something to that effect. Which will not be easy but, hey it's Goldman, lol.
Notes for Monday opening. JPM bought Bear, the Fed lowered the discount rate again, and futures are in the tank.
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