Cold Shoulder: Goldman Warns If 1,040 Is Taken Out In S&P, 865 Is Next Stop

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Tue, 06/29/2010 - 12:36 | 441783 doolittlegeorge
doolittlegeorge's picture

yeeessss.  "If I can't have you than nobody can America."  Did someone just say "start shorting Goldman"?

Tue, 06/29/2010 - 12:59 | 441865 pan-the-ist
pan-the-ist's picture

My guess, the market is down today because finreg is still being debated and it will continue to be down until it is gutted. Then, almost magically, when the bill is passed and signed into law, the market will be back up as the MSM takes the collective eye off of reality and puts it back on unicorns and faeries.

*disclaimer* I am not invested and this is not sound financial advice.

Tue, 06/29/2010 - 16:06 | 442522 Pez
Pez's picture

PPT to save the day! Another day and they staved of the econ-terrorist, Goldman Sachs. Will the stockmarket periliously plunge to the depths of damnation? Will the US market lose it's glitter in young trader's eyes? Will librarian Nell who invested all her life savings in mutualfunds ever get to retire? Tune in tomorrow for another episode of: "Only the shadow government knows!!"

Wed, 06/30/2010 - 09:30 | 444008 pan-the-ist
pan-the-ist's picture

Very well done :)

Tue, 06/29/2010 - 13:06 | 441896 ATG
ATG's picture

Never fear - Abby's looking for a big one...

Tue, 06/29/2010 - 12:38 | 441790 Turd Ferguson
Turd Ferguson's picture

No shit. I wonder what the old hosebag, AbbyJC, thinks of this...

Tue, 06/29/2010 - 12:40 | 441795 Cognitive Dissonance
Cognitive Dissonance's picture

As it is spoken, let it be true.

Karma demands we re-visit 666, but that would be too good to be true. I'm loaded for bear and up to my neck in shorts. The trend has changed. The only question is when does this down trend end?

Tue, 06/29/2010 - 12:53 | 441844 LeBalance
LeBalance's picture

You are so right. Goldman speaks and so it shall manifest.

Tue, 06/29/2010 - 13:01 | 441875 nonclaim
nonclaim's picture

I read it as "if we can't save 1040 we'll drive it to 865" and they'll make another 100 million either way, everyday.

Tue, 06/29/2010 - 13:07 | 441899 ATG
ATG's picture

Maybe not this time.

Tue, 06/29/2010 - 16:42 | 442681 Testicular Cancer
Testicular Cancer's picture

So it is written, so it shall be done.

Tue, 06/29/2010 - 12:58 | 441861 VK
VK's picture

SPX 100, go long till 200 then ZERO. Game over.

Tue, 06/29/2010 - 13:07 | 441903 ATG
ATG's picture

SPY targeting 90.

Tue, 06/29/2010 - 13:55 | 442099 RichardENixon
RichardENixon's picture

Somewhere around S & P 500, Dow 5,000, Gold 5,000 is my guess.

Tue, 06/29/2010 - 14:27 | 442180 Johnny Bravo
Johnny Bravo's picture

That's what you get for "guessing."

Tue, 06/29/2010 - 21:27 | 443255 RichardENixon
RichardENixon's picture

We'll see Johnny. I hope my guess is wrong, but I've been guessing pretty accurately since 2007.

Tue, 06/29/2010 - 12:40 | 441797 Dont Taze Me Bro
Dont Taze Me Bro's picture

I guess this means that PPT will be busy during the next couple days.

Tue, 06/29/2010 - 13:37 | 442025 MarketTruth
MarketTruth's picture

Couple  days???  Try couple of hours. PPT action begins at 3:15pm today to be exact.

Could be 'breaking news' on something that then is used as a fake way to prop this dog of a market. Remember how many times this happened in 2008. SSDD.

Tue, 06/29/2010 - 12:40 | 441798 Dont Taze Me Bro
Dont Taze Me Bro's picture

I guess this means that PPT will be busy during the next couple days.

Tue, 06/29/2010 - 12:41 | 441800 rolo
rolo's picture

I was bearish before I read this but given Goldman's record lately, I'm wondering if I shouldn't be long...

Tue, 06/29/2010 - 13:06 | 441897 carbonmutant
carbonmutant's picture

Hmmmm...

Tue, 06/29/2010 - 13:30 | 442006 rolo
rolo's picture

great reply, thanks for that

Tue, 06/29/2010 - 15:06 | 442298 DosZap
DosZap's picture

LOL

Tue, 06/29/2010 - 12:43 | 441806 Mitchman
Mitchman's picture

But I thought Obammy and the Berbungler just told me the recovery was doing great?  WTF?

Tue, 06/29/2010 - 13:06 | 441840 carbonmutant
carbonmutant's picture

w/reply

Tue, 06/29/2010 - 12:44 | 441811 GoldmanSux
GoldmanSux's picture

But I just saw Abby Joseph on CNBC yesterday, and she said.....

Tue, 06/29/2010 - 12:49 | 441812 Ethics Gradient
Ethics Gradient's picture

I'm not naturally contrarian, but coming from Goldman, that's got to be a signal to buy.

Maybe QE - the sequel <voiceover>Bigger, badder, tougher than before</voiceover> is closer than we think.

Tue, 06/29/2010 - 12:55 | 441848 bigdumbnugly
bigdumbnugly's picture

bet on it

Tue, 06/29/2010 - 13:03 | 441885 Turd Ferguson
Turd Ferguson's picture

Actually, I'd expect the S&P to drop through 1040 just to suck in a bunch of new shorts that GS will gladly fill. Then a big FuckYou rally back up to 1080.

Tue, 06/29/2010 - 13:13 | 441922 Mr. Anonymous
Mr. Anonymous's picture

Oh yeah, this is a total short-squeeze set up at the neckline.  Over on Ritholz's blog, there's talk of the bouncey effect of failed Head-And-Shoulders.  Straight to the moon if supports holds.  The neckline on the Chart at 2150 and Nazzy there holds.  GS coming out with its report is pure scamming to suck in shorts for fuel.  Sorry, no deal.

It's impossible to play this market short or long.

Tue, 06/29/2010 - 13:23 | 441974 Cleanclog
Cleanclog's picture

Rigged rigged rigged.  And some wonder why consumer confidence is down.  Howz about cuz no one trusts markets, currencies, governments or corporations anymore.

Tue, 06/29/2010 - 13:57 | 442106 RichardENixon
RichardENixon's picture

Could be wise to be ready to play it long till November, after that it's "Katie bar the door" as those wacky oldtimers used to say.

Tue, 06/29/2010 - 15:10 | 442306 DosZap
DosZap's picture

Mr. Anon,

Yes sir, GS got your nads either way...........they always win, even when we think they lose.

They simply a (New Acronym), ..........................

"TBTL"

 

"It's impossible to play this market short or long."

Tue, 06/29/2010 - 12:45 | 441813 homersimpson
homersimpson's picture

Hmm.. where did I see this before.. ^GSPC hits around the 1040 range.. and magically jumps up in very short time periods during off hours due to a firm or two buying up what they can to make the market look better than it is.

Oh yea.. that happened a few weeks ago. JP Morgan if I'm not mistaken.

Tue, 06/29/2010 - 12:45 | 441814 vote_libertaria...
vote_libertarian_party's picture

...soooo it's safe to assume that GS has their shorts lined up now???

Tue, 06/29/2010 - 12:47 | 441826 buzzsaw99
buzzsaw99's picture

They speak of the market as if it is something powerful and beyond their control. Puhleeze! The squid sets the market, the squid is the market. All this, oh gee, we don't know what ever is going to happen! Claptrap is amusing.

Tue, 06/29/2010 - 12:49 | 441831 SheepDog-One
SheepDog-One's picture

If Goldman says so, then it shall be. Theyve got to create some mass panic for announced $5 trillion printfest.

Tue, 06/29/2010 - 13:00 | 441868 -Michelle-
-Michelle-'s picture

I think this is key.

Tue, 06/29/2010 - 13:00 | 441869 -Michelle-
-Michelle-'s picture

.

Tue, 06/29/2010 - 12:51 | 441836 John Law
John Law's picture

We have to make it through 975 first. That markes bear market territory. You can bet it will be all hands on deck there. I think they may hold it for a little bit but it will fall through as the data continues to deteriorate.

Tue, 06/29/2010 - 12:52 | 441838 Turd Ferguson
Turd Ferguson's picture

Has anyone heard anything out of Louise Yamada lately? I'd be very curious to hear what she makes of the recent S&P moves.

Tue, 06/29/2010 - 13:19 | 441957 New_Meat
New_Meat's picture

Rosie talked about her a couple of weeks back, some NY conference.

She's been on Bloomberg and stands on her SPX 600 and maybe later 400, no time frame as a good technician would.

- Ned

Tue, 06/29/2010 - 12:55 | 441850 LoneStarHog
LoneStarHog's picture

Just wait until the 50-DMA crosses below the 200-DMA, which is very close to happening.  It has already occurred in the last week in several global markets (e.g. FTSE).

Tue, 06/29/2010 - 12:57 | 441855 Turd Ferguson
Turd Ferguson's picture

About an hour ago on CNBS, Matt Nesto said, when discussing the 50-day/200-day crossover: "Mother of God. Look out below".

Tue, 06/29/2010 - 13:00 | 441871 LoneStarHog
LoneStarHog's picture

Yup!  In the laws of physics, it is the only thing that can tank faster and farther than ObamaRama's approval rating.

Tue, 06/29/2010 - 12:55 | 441851 Me XMan
Me XMan's picture

Holy SHIT!

Tue, 06/29/2010 - 12:57 | 441856 buzzsaw99
Tue, 06/29/2010 - 12:57 | 441859 taraxias
taraxias's picture

Why would anyone trade based on TA now is beyond me. It's like playing Texas Hold'em in Vegas with the cards in front of you facing up. Stupid.

Tue, 06/29/2010 - 13:17 | 441940 firstdivision
firstdivision's picture

Because algos cannot be programmed to follow intuition, so TA it is.

Tue, 06/29/2010 - 13:00 | 441870 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I am waiting for the latest dead cat bounce to occur. The squid has spoken and it will be done.

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