Broker Dealers Steadily Grind Higher
Nicholas Santiago | Feb 12, 2013 11:41AM ET
This morning, many of the leading broker-dealer stocks were trading higher at the start of the trading day. One of the most notable stocks that are rallying higher is Goldman Sachs Group Inc (GS). Today, GS stock was trading higher by $1.33 to $153.57 a share. Short term traders should watch for intra-day resistance around the $154.00 level. The next important daily chart resistance areas for GS stock will be around the $160.00, and $166.00 levels.
Other major financial stocks that are trading higher today include BlackRock Inc (NYSE:BLK), Morgan Stanley (MS), Jefferies Group Inc (JEF), and Lazard Ltd (LAZ). This leading stock sector is very overbought in the near term, however the industry group continues to grind higher on a daily basis. The entire broker dealer sector can be tracked by following the iShares Dow Jones U.S. Broker Dealers Index Fund (IAI).
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