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Should I dump my Goldman Sachs stock, or will the market rebound?
I have 10,100 fantasy shares, and I don't want to lose my shirt. I bought at $153, and the stock has slid to $149. I have complete confidence it's a solid company for long-term gains, but how long should I wait? Will CEO Paulson leaving for the Secretary of the Treasury have a big effect on this stock's short-term ability to rally?
1 Answer
- 2 decades agoFavorite Answer
Well, good thing it is only fantasy shares. This stock (ticker: GS) has a last price of 149.95, but I am confident the market tumbles lower. The Nikkei ended down over 3% overnight! This will cause the US markets to sell off whole-heartily early on. I would not be surprised to see GS fall to its 200 day moving average at around $137/share. Plan on a drop to at least 140. Sell the shares now at market.
