Congressional trading is a bit like watching someone else's poker hand. You don't know why they're betting, but you can't help but pay attention. And when a lawmaker buys a stock just weeks before that company reports earnings, it's worth a closer look.

Rep. Michael Rulli (R-Ohio) recently disclosed several September stock transactions, according to the MarketDash Government Trades page. Here's what he did:

• Sept. 3: Sold $1,000 to $15,000 in Wells Fargo (NYSE: WFC) stock
• Sept. 3: Bought $1,000 to $15,000 in Goldman Sachs (NYSE: GS) stock
• Sept. 28: Sold $1,000 to $15,000 in Microsoft Corp (NASDAQ: MSFT) stock

So Rulli dumped Wells Fargo and Microsoft, and picked up Goldman Sachs. Normally, that's just another congressional trade. But here's the interesting part: Goldman Sachs and Wells Fargo both report quarterly financial results on Oct. 13. That's a quick turnaround from his September trades.

Could Rulli be betting on a strong report from Goldman Sachs? The stock is down 1.9% year-to-date in 2026, so maybe he sees a rebound coming.

Analysts expect Goldman Sachs to report earnings per share of $14.31, up from $12.25 year-over-year. The company has beaten analyst estimates for earnings per share in six straight quarters. That's a pretty consistent track record.

On the revenue side, analysts expect third-quarter revenue of $16.98 billion, up from $15.18 billion. Goldman has beaten revenue estimates in two straight quarters and five of the last six quarters overall.

Rulli isn't exactly a high-roller in Congress. He's one of the smaller traders, with 38 trades worth around $371,000, according to data from Quiver Quantitative. He took office in 2024 and is worth $27 million.

But his trading history has raised some eyebrows. MarketDash previously flagged that Rulli disclosed 32 stock trades, with some reported years after they were made, violating the STOCK Act. That's the law that requires timely disclosure of congressional trades. So while his recent moves might be worth watching, his track record on transparency isn't exactly spotless.

For retail investors, the takeaway is simple: when a congressman makes a trade ahead of earnings, it can be a signal. But it's not a guarantee. Rulli's bet on Goldman Sachs will be tested soon enough when the bank reports on Oct. 13.