Tuesday, April 14, 2009

Cold feet on GS

I didn't pull the trigger on GS today. The chart is a nice short set up (link). Earnings were good, but secondary offering is going to mean dilution. First thought was to sell out of the money calls. Premium from call sale didn't seem worth the risk, even though the percentage of success was high.

Other movers include GWW, DNDN. I don't have much to add. The stock market is a bit overbought. I continue to be cautious as I have been for the past six months.

Long AZO expiring Friday 4/17

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