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Goldman Sachs' trading department stated that looking to history, the recent sharp decline of momentum stocks that have seen strong upward trends may provide a buying opportunity on dips. Traders pointed out that Goldman Sachs' High Beta basket of momentum stocks has historically rebounded after similar declines, and the current technical trends support their viewpoint. In a client report, they stated: "In the past, when a long-short momentum basket of stocks has dropped 10% or more within five days, the probability of rising in the following week is 80%. The median return in the following week is 4.5%, and the median return in the following month exceeds 11%."
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