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I don't usually pay much attention to upgrades/downgrades, but this one comes at a crucuial point. The temporary short selling limits are expiring today, Wachovia is restating q2 losses, and numerous probes and investigations are being conducted.
GS was downgraded by Merideth Whitney, who is one sharp cookie. I'm not playing banks and this is why. I would avoid bank stocks still.
This post is more than 60 days old. Replying to it might be confusing for other members reading the discussion.
By all means, keep the ball rolling and post a new opinion.
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DowJonesDave
Aug 12 at 8:32 ET
Note: not ready to short banks yet. UYG bank index right at 50 day MA, could go either way in the very short term.
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tanh1o
Aug 12 at 10:02 ET
Yep, GS was downgraded by Deutsch Bank today, and that made the stock plunge.
but I'm still holding GS... playing with the fire you think?
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DowJonesDave
Aug 12 at 10:28 ET
Nah solar stocks are playing with fire! One thing about the blue chips. Most of the time they come back.
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blacktuna
Aug 12 at 11:51 ET
I think GS is too dangerous.. check out this opinion about them and dirty's comments - I found it very interesting..
http://www.marketguru.com/opinions/gs-your-thoughts-please/1002,1015
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tanh1o
Aug 12 at 3:38 ET
Got out of them, they made me really nervous.
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DowJonesDave
Aug 12 at 4:02 ET
Good Job!