Classically Trained, for the Revolution

Showing posts with label GS After Hours. Show all posts
Showing posts with label GS After Hours. Show all posts

Thursday, April 29, 2010

If P... (or two small plans for near-term)

Financials closed a little weak today (Thursday), while the broad market finished impressively.

The rest of the day was consistent - both sides strong.

Tonight there was a new/not so new WSJ article regarding GS, generating some selling amongst money-center banks.

If financials gap lower Friday, it's difficult to say yet whether they'll rebound or sell further from there (the latter is possible, yes). But I think it's safe to say non-financial leaders (some of whom were up only modestly today and could see catch-up bidding/rotation tomorrow in the event financials are bouncing from opening levels, or at least stable.

I've already let go most of my smaller-cap leaders (especially those with Eastern zip-codes) and I'm net-short big financials (MF-long vs. the money-center world short). I can more or less stand pat if financials quell re-freshened animal spirits, or I can trade-long non-financial growth names referred above; either lightening then on financial shorts, or just waiting a little further for the positive development in Greece to take shape (Greece would see news of some agreement prior to Monday we should expect - if we're not leading lower already I'd like something more to sell into that news).

^^GS After-hours Thursday^^