Know Your Options
Traders are eagerly anticipating the big earnings announcement Tuesday from Goldman Sachs (GS). Will they keep knocking the cover off the ball, or will the credit crunch finally catch up with this Wall Street darling?
The options market is suggesting a 7% move in this stock says Pete Najarian on CNBC's Closing Bell. As far as a direction – it’s very unpredictable he adds.
The numbers, I think will be staggeringly good, he speculates. But is Goldman going to be able to keep the momentum into early 2008? That’s the million (or should we say billion) dollar question!
Be a seller of Goldman as well as Morgan or Bear on any good news Najarian counsels. If you don’t take profits now, there will likely be a long line of investors who will.