Buying Survivors but Charts Weak

09/24/2008 12:00 am EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

New investments in Goldman Sachs (GS) and Morgan Stanley (MS) by Buffett and the Japanese banks should stabilize the financial sector as both are up in overnight trading. The daily charts of GS and MS still look weak with major resistance overhead likely to limit the upside over the near term.

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