An averted government shutdown had bulls cheering and financial scribes writing lame duck excuses of additional support to the so-called Donald Trump Rally to open up the trading week. But it hasn’t been an altogether level playing field. One area not fully cooperating with the gravity-defying law of the land are financial stocks Goldman Sachs Group Inc (NYSE:GS), Wells Fargo & Co (NYSE:WFC) and American International Group Inc (NYSE:AIG).
Even better, GS, WFC and AIG are finally back where they belong; behind bars on the price chart and ready for shorting!
If you couldn’t guess, I’m not exactly a fan of these financial stocks. But maybe you think the vampire squid that is Goldman, a sleazy retail banker known as Wells Fargo and AIG, one of the chief unwitting architects behind the financial crisis exploding into a house of pain for the country are somehow companies worth respecting?
I hope not, especially right now.
My advice, if you do think these financial stocks deserve pardons from past transgressions, is to go back to watching puppy dogs and rainbows on Instagram and hearting tweets from our president. Bottom-line, this article on shorting GS, WFC and AIG is not for you.
For those still with me, let’s move ahead, examine the daily price action of each of these financial stocks and locate limited-risk options strategies in lieu of a riskier short sale which won’t break your proverbial bank — or the good ol’ USA’s for that matter.