{"id":16262,"date":"2012-01-04T15:12:17","date_gmt":"2012-01-04T20:12:17","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=16262"},"modified":"2023-03-31T15:57:48","modified_gmt":"2023-03-31T19:57:48","slug":"goldman-sachs-showing-influence-again","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/goldman-sachs-showing-influence-again","title":{"rendered":"Goldman Sachs Showing Influence Again?"},"content":{"rendered":"<p>Identifying short term trading patterns is the lifeblood of professional traders. By patterns I don&#8217;t simply mean a simple pattern one might draw on a chart. I am referring more broadly to catalysts that will in turn lead to price action that I can use my trading skills to take advantage.<\/p>\n<p>Yesterday Goldman Sachs (GS) downgraded SNDK. This downgrade occurred on a day when the market was gapping to the upside more than 1% and money was flooding into the equities market from the opening bell. SNDK didn&#8217;t participate in market&#8217;s upward momentum and was sold strongly on the Open (see chart below) and eventually had a second down leg later in the day.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/sndk-gs-downgrade.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-16276\" title=\"sndk gs downgrade\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/sndk-gs-downgrade-300x210.png\" alt=\"\" width=\"374\" height=\"262\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/sndk-gs-downgrade-300x210.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/sndk-gs-downgrade.png 1000w\" sizes=\"auto, (max-width: 374px) 100vw, 374px\" \/><\/a><\/p>\n<p>A single downgrade in a single stock which then traded lower intraday is not a pattern. It is simply something to take note of. I did. Today was a slow news day so I mentioned in the morning meeting that GS had added LULU to its &#8220;buy list&#8221;. In the pre-market the US equities markets were showing some weakness but LULU was showing strength indicating it would gap higher on the Open. Here is an excerpt from our pre-market gameplan where I highlight the stocks I&#8217;m most interested in trading on the Open.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/LULU-game-plan.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-16271\" title=\"LULU game plan\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/LULU-game-plan-299x76.png\" alt=\"\" width=\"299\" height=\"76\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/LULU-game-plan-299x76.png 299w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/LULU-game-plan.png 582w\" sizes=\"auto, (max-width: 299px) 100vw, 299px\" \/><\/a><\/p>\n<p>After the market opened LULU traded up to a longer term resistance area just below $50. There was a clearly identifiable seller on the tape at $49.90. This led to several short term moves lower but eventually when the seller lifted LULU continued its upward trend.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/lulu-gs-upgrade.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-16278\" title=\"lulu gs upgrade\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/lulu-gs-upgrade-300x210.png\" alt=\"\" width=\"300\" height=\"210\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/lulu-gs-upgrade-300x210.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/01\/lulu-gs-upgrade.png 1000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>I will continue to monitor GS upgrades\/downgrades on US equities for potential trading opportunities. These ideas and others are part of our <a href=\"https:\/\/www.smbtraining.com\/blog\/trader-90-trader-365\">Stocks In Play<\/a> call each morning.<\/p>\n<p><a href=\"http:\/\/twitter.com\/sspencer_smb\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>Steven Spencer is the co-founder of SMB Capital and SMB Training and has traded professionally for over 15 years. His email is sspencer@smbcap.com. for a free trial of the Stocks In Play call send an email to rmendez@smbcap.com.<\/p>\n<p>Disclosure: no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Identifying short term trading patterns is the lifeblood of professional traders. By patterns I don&#8217;t simply mean a simple pattern one might draw on a chart. I am referring more broadly to catalysts that will in turn lead to price action that I can use my trading skills to take advantage. Yesterday Goldman Sachs (GS) downgraded SNDK. This downgrade occurred &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/goldman-sachs-showing-influence-again\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":16278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8,456],"tags":[],"class_list":["post-16262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","category-trader_development"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goldman Sachs Showing Influence Again? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/goldman-sachs-showing-influence-again\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman Sachs Showing Influence Again? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Identifying short term trading patterns is the lifeblood of professional traders. By patterns I don&#8217;t simply mean a simple pattern one might draw on a chart. I am referring more broadly to catalysts that will in turn lead to price action that I can use my trading skills to take advantage. Yesterday Goldman Sachs (GS) downgraded SNDK. This downgrade occurred ... 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