Goldman Sachs Group Inc.

Read Full Post.....

1. Why did I take this trade?
Goldman Sachs Group Inc. (NYSE: GS) dipped to an established support level @210 on Mon Feb 12/07. On Tuesday, it put in a higher intraday low @ just under 211. I sensed that the pullback was finished wanted to play the reversal back up to resistance @215. I bought GS Mar07 230 calls on the break of intraday resistance @212.50.


2. What was the initial stop?
Initial stop was at 212.10


3. Why did you exit where you did?
GS had trouble with the 217 level early this morning, so I exited my calls without hesitation.


4. Is there anything you would do differently?
No.

I did re-enter a position in GPYCF, basically a low risk play of any potential run up to 219.