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