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EUR At 1.3507: Goldman EURUSD Re-Stop Time
Deja vu all over again. Looks like Goldman is about to be stopped out once more on its most recent EURUSD call. Recall:
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.
The Euro is now over the 1.35 stop limit. And so Goldman makes a boatload yet again as clients lose. Keep an eye on the official close. We wonder if this means third time will be the charm for GS which should next go EUR bullish (once again, and less than a month after the first failed such call).
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One last short sweep before the Euro drops like a rock over the next few months.
because cnbc told you so...
Greece, Greece, umm... Greece, oh and Greece
More like Spain, Italy, Portugal, etc. What is cnbc btw?
What is cnbc btw?
Nothing worth your attention.
Might that be that Goldman is losing sense of smell like a dog, which is getting older? Or may be someone more mighty is playing with Goldman as if GS is a little stupid puppy?
i hope they just shut their mouths. long at 1.300 is far too obvious, long now is ballsy
all i see today is somebody closing a crapload of shorts before quarter end
You think Goldman is following their own calls? Hell no!
The Macro View
http://themacroview.wordpress.com
Seem to me that the Vampire Squid Goldman Sachs places their bets just before calling the opposite of how they bought, then the stupid money and sheeple follow GS' jabber jawing and GS cleans up handily off the backs of stupid people and those who made the incorrect choice to allow GS to manage their portfolio.
"The key is to structure the truth to your advantage." -- TSgt David Anthony, 1206 training
so when do they stop running out of other people's money to burn? At some point the donors must stay away.
Goldman was one of the top contributors to Mr. Obama's presidential campaign; so Goldman helps Mr. Obama and vice-versa (at US tax-payer expense though), should such a need arise.
Japanese output just went negative, ADP employment is down, so the Euro gets the 'We Suck Less' award.
Japan Times:
Industrial output ends one-year climb on auto, high-tech weakness (QE9999 to Follow)
http://search.japantimes.co.jp/cgi-bin/nb20100331a4.html
Is the line of suckers endless? Obviously not. Which means there's repeat business. False hope binds us to impossible situations and conditions.
Well, yeah... the reflation game started by the Fed last year is predicated on the Greater Fool Theory.
Over the past year, relatively risk-free investments have been artificially pushed down to near zero, and investors are finding themselves increasingly going out on the risk curve to get a little extra yield.
At the same time, financial institutions have been borrowing at zero and going way out on the curve in duration to capture a nice fat spread.
But the real line of suckers are forming at every new high yield bond, preferred stock and equity issuance-- and there have been plenty over the past year. More incredibly, even the U.S. government has been a net seller (witness the Citigroup offering), yet there are those suckers so desparate for potential gains that they don't even realize the significance of our government's actions.
As we saw during the Internet bubble, there is an almost limitless capacity for suckers-- both at retail and professional levels of investing. But at some point, it all ends. The Fed, in every step, has been an enabler of these bubbles-- even though it refuses to recognize them. In truth, Bernanke knows he needs as many suckers as possible to finance the whole he helped create.
So don't be surprised to see all this cycle over again-- and again-- until the risks of bank insovencies are minimized. I'm thinking it will atke at least a decade. Maybe two.
GOLD/SILVER/OIL!
If you look at GS's prop trading record, pre-crisis: It stunk. It's only since they've had BenDover sitting on Lloyd's shoulder that their luck has changed.
That sucks for me. I bet everything I had on that GS recommendation.
Who gives a crap which boat is sinking the fastest? If you aren't on dry land by now, you'd better get moving. Gold and silver should be your destination. Others have mentioned oil, but I doubt you will take delivery, and when this ship of state sinks, if you don't hold it, you don't own it.
I for one, love the waves of schizophrenia that have been washing over the Euro.
And with Goldman in its corner making fight calls, you know the fight is being thrown.
EURJPY
Daily bullish
Weekly neutral
EURUSD
Daily neutral/bullish
Weekly bearish
http://www.zerohedge.com/forum/latest-market-outlook-0
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