GS is trading in red even when Buffet bulls zombie BAC.
Surprising gold was also weak. Felt like a short term reallocation of money from a long time winner, gold, to long time suffering stocks. Tape on BAC, GS, MS in the financials remained pathetic all day. Bear market rallies are strong. Looking to re-short QQQ @ 20 EMA and to reload on GLD around 173, if it reaches there.
GS down -1%
BAC down -3.5%
Difficult for markets to keep levitating with these big financial stocks struggling.
Markets moving higher on low volums as QQQ’s take out yesterdays high. Goldman Sachs (GS) lagging badly. Energy and tech doing well.