The general market has pulled back (though the Dow remains positive courtesy of Caterpillar’s strong performance in Asia).
Highlighting the squishy action is Goldman Sachs, which is now down 3%, near lows of the day, and new post-lawsuit lows.
Perhaps investors are wonder what, possibly, could propel the stock higher.
Here are some reasons to sell.
- There isn’t likely to be a favourable resolution to the lawsuit anytime soon.
- Nobody knows how tomorrow’s big hearings are going to go. It could be ugly if politicians get nasty.
- Earnings are over, so that’s all priced in
- and the interest rate environment can’t possibly get better.
- Oh, and there’s this big bill being debated as we speak, and at looks like, quite possibly, derivative reform will be real.
Business Insider Emails & Alerts
Site highlights each day to your inbox.