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Euro Surges In Wake Of Goldman EURUSD Downgrade, Prop Buying
Yesterday, we wrote: "Full blown capitulation from the Goldman FX (strategic not tactical)
team: the firm goes from a $1.35 target on EURUSD to $1.15. Score one
more golden star for Goldman-Client relations. On the other hand,
Thomas Stolper is officially advising clients to sell their euros to
Goldman. There is no clearer signal to buy the beaten down currency." This was at a EURUSD of 1.1950. Sure enough, just over 12 hours later, the EURUSD hit 1.2133 (and dragging the little computerized gimmick known as the stock market with it). Goldman's "prognostication" track record is starting to challenge that of the head seer Bernanke himself. At least doing the opposite of what Goldman advises its clients continues to yield a 100% win percentage.
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Scary enough, I want to put on a small short euro position today, but don't dare with this GS "advice" out there. Bastards.
*sigh* just tell me when they stop themselves out.
Is there any way their clients still trade their advice. Better yet, do they actually still have clients? Afterall, about 90% of revenues and 110% of profits are from the GS Hedge Fund....errrr, I mean bank holding company.
Now that's funny: "computerized gimmick known as the stock market." A truer statement has never been made.
Could still be pump and dump he tyler ;)
wow! how useless is the SEC? I can't believe they can't catch things as obvious as this.
The SEC is a political tool. It does not investigate fraud that profits this administration.
The US needs cleansing Nuremberg type trial for the financial industry where every bankster bastard is publically grilled, humiliated and sentenced to years in prison.
It will only be when the likes of GS and JPM cease to exist that people will believe in the US system again.
At the moment, the banks, Fed, Regulators and half the Senate seem to be one massive criminal organisation whose purpose is anything but to help the country, but more to rape it and make off with its wealth.
Shit GS can simply take over the stock market at will and boost it a few % for fun. What a joke. Other banks can play with Gold or silver or whatnot like a toy....and the Fed just gives them the monopoly money free to abuse whatever they like.
Americans will cheer the day the see GS and such executives lined up before gallows for treason.
When GS loses a programmer, unexpectedly, they call the FBI to claim what's inside that programmer's head represents a "systemic risk" to the US Economy if it falls "into the wrong hands".
You may want to add a few black robes to your cartel member list.
Kina, agreed, I have been saying we need a financial Nuremburg for awhile. Not just the US though, this is a global scam now.
"Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains."
Thomas Jefferson
Maybe the squid has caught on. They are probably using reverse psychology. If they want Euro to go up, they "downgrade" it and vice verca. That explains why they have a sell signal on EUR/USD and then bought "1k Big S&P" contracts. Weird.
Someone here the other day suggested "triple dog-dare reverse psychology" or something similar.
I like the term "MC Escher School of Forward Thinking".
Yes, with enough air pressure even a balloon with gaping holes can be inflated. This new economic theory of debt service via shared impoverishment will surely lead to several Nobel Prizes.
Primarily in physics.
Could Goldman be right this time?
Jeez, GS is so blatant with the pump and dump. Another perfect trading day for the prop desk.
That is what is so scary, they aren't even trying to be subtle anymore, they have nothing to fear from anyone until the peasants show up with the torches and pitchforks. Then they will all fly off to their Xe protected hidey holes and laugh as humanity burns.
I love how ZH, 'just a blog', is increasing market transparency, a job that my government should be doing.
OK to be fair the US gov is going after GS et al., but when they continue to operate like this, they clearly haven't been slapped hard enough.
The EURO breakout I suggested yesterday, has made its move ...
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
They call it “VOLATILITY”
I’m waiting to see the headlines ...
“INSTITUTIONAL INVESTORS ARE AT THE MERCY OF THE HIGH FREQUENCY TRADING COMPANIES”.
“THE STOCK MARKET IS MANIPULATED BY A FEW HFT”
http://news.bbc.co.uk/2/hi/business/10282777.stm
Why is BP important to the UK economy?
If you add together the corporation tax and production tax paid by BP, together with the National Insurance and income tax paid by its employees and the VAT and fuel excise duty paid by its customers, you get £5.8bn, which is about enough to fund the entire budget of the Department for International Development.
It is not just the UK economy that is vulnerable to BP's problems. The company employs 22,800 people in the US.
BBC business editor Robert Peston points out that 39% of the company's shares are held in the US, about a third of them by individuals rather than institutions.
He adds that those US shareholders might not be happy that every time the US president lays into BP, they find themselves a bit poorer.
jal
Very good. Now, if GS will just predict a big dollar rally, we can be on our way.
Gladman sucks feeds the beast symbiotically in hopes of making it rise to be whole again, but the beast is sick and the food won't nourish it or Gladman Sucks; they are too far gone.
The black swans circling above recognise this last convulsion. They have grown impatient to feed on the beast and gladman Sucks, and they will not be denied.
This is quite the ramp job they are doing this morning with a BIG vacuum underneath. Crash coming soon?
GS, isn't that the company that didn't have a losing trading day last quarter ?
*Sarcasm intended*
Giving bad advice should carry a fine.
Clean up 10 km of oil polluted beach in person would be a good start.