Category: Equities

Bullish outlook for Goldman Sachs

We're preparing for earnings from Goldman Sachs coming out before US open Tuesday. In this regard the WSJ quotes Meridith Whitney:

Whitney predicted Goldman Sachs would post second-quarter results Tuesday above Street estimates - she expects earnings of $4.65 a share, compared with the average analyst estimate of $3.48, according to a survey of analysts by Thomson Reuters. She set her 12-month price target on Goldman shares at $186.

Shares of Goldman Sachs rose 2.7% in recent trading to $145.75.

We maintain a bullish view

Overweight OSE again

OSEBX closed at 261.59* this friday. At these levels we consider the risk reward of long position to be profitable and increase weights in equities on the oslo stock exchange again.

2009-07-10-osebx

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We expect institutional investors to start joining from the sidelines and form an upward pressure. The main concern is the low liquidity/volume in the market, which can postpone the recovery. However, these levels are good entry points for long term positions.

* OBX (25 most liquid stocks) ended at 234.79

Top turned correct - now we increase weights again

The top around 284 turned out to be correct, but we don't see a volume on the selling making me shift the target for correction upwards. We have 14 points (5%) correction now and start increasing weights on OBX again around osebx at 270 meeting support levels from both fibonnaci and 200 daily moving average. Next target is 315.

2009-05-14-osebx

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