Downward Volume Surge: Goldman Sachs (GS)

Posted in General 
November 10th, 2008

Goldman Sachs Group inc. (NYSE: GS) better go ahead and announce whatever bold new strategy it wants to do as a bank holding company.  This stock is down another 7.6% at $71.88 on active volume.  At 10:57 AM EST it has seen 15.7 million shares trade hands, yet its average daily volume is about 22.6 million shares.

The rumor mill in Goldman Sachs is getting long enough that it is becoming just like the prisoners yelling out the number of a joke after the lights go out.  But the most credible thing we have found and the thing that keeps surfacing is the worry about Goldman actually losing money for the first time since its IPO.

Whatever the firm is going to, it really needs to get the announcement out and out of the way.

JON OGG

NOV. 10, 2008

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