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GS Is The New Market Windsock
Now that the AIG Volkswagen has imploded, the market is gauging the wind's direction by much more solid, and moderate beta names, like Goldman Sachs. It is somewhat fitting the GS is now the proxy for the entire US equity capital markets.
In the meantime, HFT tentacles are probing near and far to uncover the next garbage company or sector which to run up then leave hanging, especially since Flash trading is now out on BATS and Nasdaq, so quant funds are scrambling to generate their revenue quota for the year asap.
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and BJ services is bright spot today...hahaha
Day Trading is really taking off in LA. Just saw 2 more day-traders in the office nearby - sure money, break outs, etc. Total disregard of fundamentals. Their speciality is RE.
Volatility will be insane - ouch.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/id...
"The chatter from (some) hedge funds is that there is a bank default", said Jon Najarian, a founder of Web information site optionmonster.com.
Rumors about MS and WFC.
You sure they weren't referring to the FDIC or the Bank of England? =)
Put this away! If anybody at GS sees this they could
announce a share buy back program.
But the XLF has no decent support until 13.10, this
starts to look really ugly now.
I wonder how much exposure AIG has in LA Monster Fire?...Maybe Buffetts bet will turn to ash!
GS is now the proxy for the entire US equity
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this could be true but not because of the posted graph. I am sure there are another 5K companies whos chart look exactly the same
You are right. If you plot BA against SPY you see the same graph. Also true for couple others I tried like AAPL and MSFT.
They'd just as well merge Wells and Citi then. That union has "epic fail" written all over it.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
.1% TRADER TAX is gonna kill them
they are so breaking the 160 today
there it goes, 150 by the weekend?
One of the early sectors were thecar rental companies. no one ever really picked up on that. DTG, CAR, HTZ.
Just look at those charts since march lows.
I think you mean windsquid
CNBC at 5, 99.99 is the new 666
Poor Goldman Sachs. They finally own the entire S&P500 just in time for it to be worthless.
It looks like the dynamic duo of CNBC and GS are losing their ability to keep manipulating this market higher.
Look for GS to reiterate their market targets and for CNBC to stress buying opportunities.
"Don't needs jobs and industry anymore to make money...all you need is a fed printing press and a stock market...working for money is so 2008"
watch for it @ 3:59.
spx closes above 100O and xlf at or above $14
Oh please, GS has so many puts & t-bills shoved up their ass so nobody peeked at what they had behind their backs too closely.... they'll be even richer when this is done. Don't get it twisted, they have the playbook.
All I can say about today:
FUGLY!!!
Best pic on zerohedge. And not the bad teeth guy. Bravo! Keep up the good work(s).
Right...
down = (ugly, bad, distress)
up = (great, exciting, happy)
Just convention I guess, otherwise quite meaningless nowadays...
For me, since I'm net short, today was beautiful!
*yawn* at the 'markets are manipulated' comments. When in your living memory were markets not manipulated?
Look at the simpler picture. I think it tests rising 50SMA and bounces. I would wait and watch before shorting. It could be a short trap - squeeze them at 50 (or just below).
I agree markets have always been manipulated, but never this blatantly.
Moderate beta?!
Wow my system were re working again. lol Flashing trade were bann today. Maybe it's why!!
Cramer: AIG at $50 is a hot stock!
2 days later AIG at $35, down 30% and counting.
LOL
Wonder how many Cramerites are trying to average down on AIG to save their skin.
I bet Cap'n Booyah is making money on this somehow.
You guys suck.
So what if GS is intraday correlated to SPY for a brief period?
I am looking to invest in the markets and just got my online broker account active. Can anyone tell me what a stop loss is?
In your case, I would say "stop loss" means going back online, closing your account, investing in physical gold, guns, ammunition, and gasoline, and doing nothing until further notice.
A stop loss means an amount of money that you are willing to lose before you exit your position. For example, if you paid $10 for a share and you're willing to lose $2, your stopp loss price would be $8. A word of advice, if you don't want to lose your shirt, make sure that you have an exit plan, for both the upside and the downside. You will never be able to time an absolute top or absolute bottom. Since sounds like you are a new investor, you WILL lose some money, especially in the beginning. Don't get discouraged by that, it's a natural part of playing in the markets. For that reason, don't start out big. Start with small amounts of money. This way, when you make mistakes, they will not be costly (lessons still wil be the same as if you invested large). Your goal in the beginning should be to learn the markets, not to become an instant millionaire. Also, invest some time studying technical indicators. They will come in handy regardless of whether you plan trading long or short term. Good luck.
I fully expect to see Ben & Co. arrange for "futures up in premarket trading" and a New Day On Wall Street when I hit the alarm clock 5:30 tomorrow am, with a roaring "CNBC and Kneale say money off the sidelines to buy the dip" rally in progress by 9:40 am NY time, and a return of the S&P well-over the 1K plus line on some sort of mass-media blared propaganda, if for no other reason than reversion to chaos is the program in place, and also, just to fuck with us.
Awesome. Along with the stop-loss comment above.
I for one welcome our new Goldman Sachs windsock overlords.
Something among the Euro creditor nations makes a lot of sense, especially something with exposure to PIGS and/or Baltic.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
This chart doesn't really show anything. Plot the majority of SPX stocks vs the SPY and Im sure you'll get a similar picture. This is one day. Compare the excess returns of GE and the S&P and Im sure you'll get a correlation above .90.
Looking at currencies and stocks reaction in Asia this evening, looks like a S&P rally above 1k is in order tomorrow, so those in the west, no need to wake up early at 5.30am, just put in your close-short orders and go sleep tonite.
since GS and the likes are thought to have the ability to game the markets, it is only logical that playing GS as the proxy is a wise bet.
Agree. Looks like futures flat right now after some earlier weakness. Propaganda opportunities today abound with a announcements of a "better than expected" ADP report coming in advance of Friday's employment report. Productivity, FOMC chicken bones and entrails to read for any uplifting hints of better days to come. Vigorous rally featuring CNBC cheerleaders and BOA/Wells Fargo CEOs declaring Mission Accomplished, while Joe Q. Public watches all on the soup kitchen television and wonders why he can't find another job. AIG stock will be "soaring" on news that new CEO is against big Wall Street pay (huh?!). Madness, confusion and non-sequiturs. This will be childs' play for our Overlords to juice this market. They're just having some fun jockeying it up and down. We'll be back over S&P 1K by noon, and it will be clear sailing from there to 1200.