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180 Move Of The Day: Goldman Scraps Its Long Euro Call, Goes Short With 1.31 Target, 1.35 Stop, This Time The Other Way
From Goldman's Jon Pierce:
We have seen a rush of stops triggered with the push under 1.3400 and the price action would suggest that some more strikes came into play at 1.3350 . The better European data activity has again been swamped by renewed fears for the European periphery , with Fitch's downgrade of Portugal particularly weighing on sentiment . The probable close today below 1.3430 should herald a fresh leg of weakness following 7 weeks of 1.3430/1.3840 action . Whilst positioning was light 24 hours ago we have seen it build sharply in the past few hours but this does not feel like a crowded trade . We are playing this from the short side and would look upon a rally back to 1.3420 as a selling opportunity. Stop can be placed above 1.3500 . Its hard to know how far this move can extend but a target of 1.3100 mentioned by John Noyce does not seem unreasonable.
Goldman's euro target from March 12 was 1.45. Hopefully not everyone got burried under 250x FX levereage following Goldman advice, or "was as it as good for you as it was for Goldman selling you the euros?"
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Cheating, thieving, corrupt bastards
Like experienced cowboys rough riding over the herd, GS moves the herd first left, then right, then backs them into the pen for the night and some much needed rest. It will be another busy day tomorrow but those GS rough necks will be ready after some grub (one of the slackers was cut up into steaks) a little whiskey and a fine filly for the night. Round em up and move em out boys.
Here is a GS video on how to reduce stress in cattle when loading.
http://www.youtube.com/watch?v=r9ZM9DaMv-w
It's a question of logic. Goldman's motive is profit for itself and nothing else. Why would it give out good investment advice? Doing so would cut into their profits and bonuses.
That would be like sabotaging their own business.
GS just has left its last shame at home and is relaxed and enjoying issuing its smart calls.
Goldman lures in enough to go long, just in time to cull the herd. Like clockwork. Anyone stupid enough trading on GS's calls are doing it to themselves....and yes GS is despicable, but they're here for the duration.
thanks for helping set the bull trap on that easy 1.38 kiss, GSCO ... really do appreciate it.
Everyone should follow their advice...what could possibly go wrong?
Hey, wait a minute.They seem to have the same ethics as a shark in bloody water....
So much for any ethics impeding profits in any way whatsoever.
And as we all know, evil empires are eternal..oops I meant to say doomed to FAIL.
So lets see:
Put out long call - check
Push price up to pull in bulls - check
Push price down to take out stops - check
Push price up for a cool XXX profit - ??
GS is doing God's work. Their are fighting war for US. :) Their goal is to take home the money from all over the world. With Zillions derivitives and goverment backup, they can do whatever they want to do. The goals are to destroy EURO, their only competetor, creat huge bubble in China, make the slave working for nothing, Garantee US as the only authentic money printing authority, enjoying being master of the world forever. We can forget about all our other business, as long as GS exist, they can make money for us, and we don't need to work. Out 401K will keep growing and we can enjoy out social socurity and pension when we retire. hehe.
Might be deserving of a few robotrader animal stampede pics! LOL!
So that means buy right. Ok
Everything means buy. When surrounded by daisies, it's hard not to see daisies everywhere. Only a fool who can see daisies as far as the horizon would think daisies are in short supply.
Sooooooo, buy daisies for crying out loud. And now, before they run out.
http://www.fotosearch.com/photos-images/daisy.html
You get to be wrong when you ARE the market.
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