Shares of Goldman Sachs (NYSE: GS) are on the verge of something
big. The question is what.
Chart Courtesy of StockCharts.com
Have you seen the price swings in Goldman lately? Wow, what a
wild ride these things have had. Just on Thursday, the trading
range was close to sixteen points. Let's put that into context,
in the past two weeks, the stock has had about a 20 point trading
range, which means that in one day, the stock moved about as
much as it had in the entire two weeks.
That volatility has some significant implications. First, it says that traders
are becoming unnerved with Goldman's prospects for the future. The potential
for banking limits proposed by the White House could affect Goldman's ability
to do business in the future.
Technically, the stock has been bouncing between between its 50 and 200 day moving
average, which is an interesting situation. A move above or below this key trading
range will be very significant.
More important, though, is what changes in Goldman could mean for the market
and for the economy.
A whole lot of stuff is suddenly way up in the air.
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