John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Hawkmoon who wrote (10577)	11/17/2008 11:35:03 PM
From: John Pitera	1 Recommendation Read Replies (1) of 33421

Hawk, it's amazing to step back and look at 10 year charts of stocks like AMZN, EBAY, DELL (lowest price in a decade) MU down at 2 bucks and change..... C market cap cut 75% this past year. GOOG now half of it's correction high of 602 back this spring. GS has come in for the tough love; I remember it looking like a bold prediction that it would go down to 110 9 months ago.... now what .... 60. of course this is a bear market and just about all downward projections come to pass as this multiyear "B" wave correction off of the 2003 low turns into the near nuclear winter of the wave "C" of this bull market move since 1982. ............. we had a fair bit of debate on GS this past year JP ----------------------------- Message 24756829 To: TheFalcon who wrote (9667) 7/14/2008 5:07:16 PM From: John Pitera Read Replies (2) of 10588 I think the GS chart looks miserable and bearish. yes it's got some support in the 155-160 area, but to make one of the most simple readings on it; it's a bearish decending triangle with an extra bit of manic energy on the March BS related sell off to 140 as well as that really frothy irrational choppy trading of Oct of 2007. I see it going down to par...... ( down to under 100) on all weekly and monthly charts looking at GS from a 5 10 and 15 year perspective has it not broken down out of the uptrend much as GOOG did last fall. So it's going down and I will reiterate that GS does not have nearly as a precise handle off their percentage holds of L3 and L2 holds.... I don't recall the name of the innane Chief Risk Control Manager at GS who came up with some ridiculouly timeless quote that we posted here last fall...... he quote was so off the wall, I'll see if I can find it or maybe one or the team here can. Listen to Laszlo Birinyi here is what I honestly believe, because as you know we are in my most aptly named Centipede Market here...... don't get caught up waiting for the other shoe to drop when it's all clear..... watch for bits of falling sky as the other 90 some odd shoes fall off the infamous Centipede Market of 2008 ------------------- a fait acompli Message 24753161 To: TheFalcon who wrote (9667) 7/13/2008 1:09:28 PM From: ajtj99 of 10588 I wouldn't get too bullish on GS. Longer term, that stock should end up at $80.

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