Chart of the Day: Goldman Sachs (GS)

The banks and brokers are lower today, and GS is flirting with support in the form of a recent trend line dating back to its October highs.

I am watching this trendline to see if it holds, but I still like GS fundamentally. I think they should be able to take advantage of the collapse of Bear Stearns, and strengthen their position within the industry.

Their conference call was pretty bullish, given the current investment landscape. While their earning power will certainly be lower this year, I still think the stock should be able to work its way higher as the year progresses.

long GS