Green Mountain Coffee Roasters Inc. (GMCR) : Still gapping down

Since the announcement of SEC investigating its financials, GMCR has gapped dow. It has only manage to hold the price before the price gapped down again today.

Given that investigations are still ongoing, it is definitely not a good time to catch the falling knife.

Base solely from the chart, it seems like the kumo support at $29 may not hold for long.

Vested. I have a short Vertical CALL spread when it first gapped down.


Goldman Sachs (GS) : Trend remains down

Goldman price rises as high as 140.15 yesterday on news that their hearing will be extended to July 19; the original date fo r the hearing was supposed to be yesterday (June 21).

However, the price reverse and close off on the low at 137. Volume is also very low for the day.

GS price is unlikely to go up much until the hearing is completed.

If the reversal plays out, we should have a target of $131 (it’s recent low). Any more bad news (eg. more lawsuits) may see it break the recent low.

Likewise, a confirmed settlement with SEC can revive its price movement upwards.


Goldman Sachs (GS) : Watch the Kumo Resistance

With the broader market having a selloff on Hungary’s economic woes and the poor job data from the US, GS manage to have a little rally that sees it rise to 145.80.

The little rally is fuel in part by speculation that it is going to settle with SEC.