Resistance levels: $175, $170, $162
Support levels:$155, $140
The government on Friday accused Wall Street's most powerful firm of fraud, saying Goldman Sachs & Co. sold mortgage investments without telling the buyers that the securities were crafted with input from a client who was betting on them to fail.And fail they did. The securities cost investors close to $1 billion while helping Goldman client Paulson & Co., a hedge fund, capitalize on the housing bust. The Goldman executive accused of shepherding the deal allegedly boasted about the "exotic trades" he created "without necessarily understanding all of the implications of those monstrosities!!!" Here is full Press release Here
Shares of Goldman Sachs Group Inc. got crushed as the SEC charged the company with fraud. Goldman Sachs now has support at $155, resistance is $168-$170 I think we should sit down in to the sidelines. Earnings are due out before the open on Tuesday.
Good Luck .. Trade Smart!
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