GS

I had a few questions about GS and how they are doing today on their earnings beat/run.

If I were long GS right now I'd consider taking some off the table, that is not the same as a short call. It looks to me like GS may linger around this area for a little bit, maybe a day, maybe more, it will depend on how the charts continue to develop, but it seems clear that as we approach the end of day, some traders with larger positions are taking some profits. GS also looks like it may have been a decent earnings play, there's definitely something before earnings, I haven't looked at all of the charts so I don't know if I'd call an earnings trade as they are wildcards and need a much higher bar of evidence.

 3 min near term looks like NYSE specialists or maybe even some HFTs were accumulating stock (inventory) of GS prior to earnings, right now there's some lighter distribution or what I'd call profit taking at the red arrow.

On a 5 min chart, which is a big jump in underlying activity from a 3 min chart, there's signs of what would be the first timeframe where we see institutional activity and those are leading positive divergent signals, also profit taking in to the close. Remember they have large positions, they can't take profits in one trade/order, they have to slide out in to demand with a series of smaller orders unless they want to have a predatory HFT pin them and front run the spread.