Goldman Sachs Is Hot

Market Commentary | Stocks

Ahead of their earnings report before the open tomorrow, Goldman Sachs (GS) is hot.  The stock is up 5% after a front page New York Times article (“For Goldman, a Swift Return to Lofty Profits”, The New York Times, July 13, A1) said Goldman will report lofty profits of more than $2 billion.  Meredith Whitney also upgraded Goldman shares to buy.

This move appears to be driving the entire market…..

gs-2-day-chart

Disclosure: Top Gun is short shares of Goldman Sachs (GS).

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