Goldman's FX Clients Getting Tactically Bombed On Daily Basis Now

The latest tactical nuking of whatever remaining clients GS has in the FX (or any) arena has just been announced: from GS FX research "Stopped out of short USD/TWD with a potential loss of -1.2% May 24, 2010. We were stopped out of our tactical recommendation to be short USD/TWD at the London close on Friday with a potential loss of around -1.2%. We initiated the trade on 31 March on the back of strong macro data out of Taiwan and rising inflation which we expected the Taiwan central bank to fight via a stronger currency. While the macro arguments for the trade are still in place and the trade was well on its way towards the target a few weeks ago, the ongoing market jitters have pushed $/TWD a fraction past our stop of 32.1."

For god's sake Goldman, have some pity on your clients.

Comments

[living on the edge]

Goldman Sachs is loosing the golden touch!!!

[Dont Taze Me Bro]

I don't know about that. Their trading desk didn't have a single losing day during the last quarter.

Goldman's new motto: "Profits for me, losses for thee!"

[Turd Ferguson]

TD, you know I love this site but, when it comes to all the GS BS, I really couldn't give a shit.

[eccitante]

Info on GS is relevant -- their recommendations are a fairly good contrarian indicator....

[buzzsaw99]

The Squid's public pronouncements are garbage.

[RottingDollar]

TD, you know I love this site but, when it comes to all the GS BS, I fucking love you guys more.

[AxiosAdv]

God has a capital G.

[RottingDollar]

Talk to my Church down the street---when used as a pejorative keep it non capitalized.   And yes they consider the above use negative. 

Glad to see the religious police on the site. 

[Gold...Bitches]

not for atheists

[faustian bargain]

...at the beginning of a sentence.

[snowball777]

TD should've used "fuck's" instead.

“If our father is our basis for God, and our fathers abandoned us, then what does that tell you about God? Listen to me! You have to consider the possibility that God does not like you. He never wanted you. In all probability, ...he hates you. This is not the worst thing that can happen."

[Alethiometer]

*sigh*

Can't wait to bomb the Euro again this week.  Have fun kids.

[lizzy36]

One wonders, exactly what Goldman suggested fx trade has actually made their clients money this year?

Actually one wonders if Goldman has any fx clients left? If so who are they, and how can one short them (naked or otherwise)?

[SilverIsKing]

Are their "recommendations" intended solely for their clients or do they publicize their positions for investors at large.  It seems that ZH often has information as to Goldman's stated position on currency pairs or other investments.  If that's the case, their intention is not only to sucker their clients into losing positions but individual investors as well.

[JackES]

GS has never been sort of main force player in FX world, period.

[bob_dabolina]

They will still have a perfect trading record

(they might lose a couple times...just to make it look legit)

[jkruffin]

Anyone still following the advice of Goldman, really deserves to lose their money.  They have time and time again made it abundantly clear they do not care about anyone but themselves and their own profits and bonusees.  How many clients continue to be sucked into their scam and lose their hard earned money.  People need to wake up and stop doing business with these crooks and JP Morgan Chase who is another of the elite scam companies.

Best way to play, do the opposite of what Goldman or JPM says, because that is what they are doing.

[Cistercian]

 Investing with Goldman=FAIL, epic.

 I suggest fleeing GS as fast as possible, for your own protection.

  Or stick it out, and be suddenly stuck!Suckers!

[buzzsaw99]

1) gs gets in

2) clients get in

3) public call

4) gs gets out

[HFT1]

I guess a 3.5 trillion $ FX markets is too much for even Goldie to handle with all her algos and gadgets, Bitch!!

[zhandax]

Do their mea culpa's on calls for their clients cause anyone to think better of the fact that they gained 68 of 68 days on their prop trading last quarter?  Michael Lewis is giving them far better marketing advice than the moron who suggested this.

[Steaming_Wookie_Doo]

The only time GS advises clients in a certain direction is when they need a patsy for the other side of the trade...

[omi]

I'm sure they tell their clients to do the opposite of what the public release says so that non-paying customers get to provide liquidity for paying customers, in that case everyone is happy.

[faustian bargain]

Wooo...octuple-reverse psychology...now that the secret is out they're going to have to revise their strategy.

[RockyRacoon]

Check it out:

“This is a quintessential liquidity crisis,” said William Cunningham, head of credit strategies and fixed-income research at Boston-based State Street Corp.’s investment unit, which oversees almost $2 trillion. “It’s not inconceivable to imagine a situation where the markets behave so poorly, the liquidity behaves so badly, and risk-tolerance just evaporates that -- particularly in Europe -- consumers contract, businesses stop hiring and stop investing, and economic activity halts.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aU1fAD2hZxd4&pos=2

[Jay Walker]

The idea should be to shear but not slaughter.

GS just slaughters.  

[Grand Supercycle]

The March 2009 lows won't hold.

Updated DOW daily and weekly charts:
 
http://stockmarket618.wordpress.com

http://www.zerohedge.com/forum/latest-market-outlook-1