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As goes this stock, so goes the market
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Tuesday, November 17, 2009
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From Bespoke Investment Group:

For much of 2009, Goldman Sachs (GS) has been one of the market's number one 'tells', so much so that it's become a rule among traders that as goes Goldman, so goes the market. If the stock was strong on a weak market day, you could almost bank on an afternoon rally. Likewise, if Goldman traded heavy on a strong day, taking profits ahead of a potential sell-off was a prudent move.

The fact that the two have been so connected makes the recent action in GS that much more puzzling.

Read full post (with chart)...

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Topics: Goldman Sachs | Stocks
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