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Stolper Finally Closes Long EURGBP Trade Reco... With 2.8% Loss In One Week
We already reported on this two days ago when we pointed out the painfully obvious that the EURGBP was imploding, but Goldman's FX strategist decided to keep the muppets in a losing position a little longer just so their losses would be even greater. Or who knows why. Whatever the reason, Stolper is now officially out of his woefully mistimed EURGBP trade reco, which has returned -2.8% unlevered in one week. Apply, oh.... 10x leverage and it becomes obvious why Goldman's clients love it so very much.
Trade Update: Stopped out of long EUR/GBP on increasing Cyprus tensions
We opened a long EUR/GBP recommendation based on the idea that further Sterling weakness is likely given the prospect of additional monetary easing and the increasingly weak external position. Since then BoE Governor King has signalled less desire for a weaker currency and the increased Eurozone tensions linked to the Cypriot bail-out package have pushed the EUR lower. Our views on Sterling have not changed but more EUR weakness is possible in the near term and will depend on the Eurozone news flow.
We close the recommendation for a potential loss of 2.8%.
As a reminder, this is what we said a week ago when we reported on the trade initiation:
"the logical Stolper-contrarians in us say this is precisely the time to fade the relentless move higher in the EURGBP: history is on our side about 93% of the time. After all, Goldman's prop flow desk is now selling the pair to its clients. This is even as we said to short the GBP with both hands and feet in late November when Carney's appointment was announced: a move that has resulted in nearly a +1400 pip gain in the GBPUSD short. Oh well, time to take profits."
Please keep 'em coming Tom.
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Stolper forgot to say "Muppets, you're welcome."
Hey Stolper, maybe you should stick to a practice account.
People must be killing it with the inverse Stolper?
It's like Crane Technique.
pods
You mean the people like the ones on Goldman's prop desk (sorry, I meant to say flow desk).
The Goldman jews are mainly just interested in shearing goy MUPPET sheep
~~~
Sometimes there can be collateral damage, but not to bother... They feel 'safe' in knowing that there are legions of propagandized sychophants out there armed with 'heavy as lead' words like 'ANTISEMITISM' to set the record straight & allow them to continue the raping...
All is well...
Wow; a LONG EUR/GBP position? And he thinks he's a trader; eh? Amazing. I'm a trader, and I'm here to tell you this dude doesn't know anything. I've been short EUR/USD for weeks and of course I have no intention of covering; but LONG EUR/GBP? Nuts. You know where this crap comes from? computer programs. That's where they get their trades; God help them. I'm sure glad they're plenty of people like him to pay me when I cash in my trades. LOL.
.
You've got to admit that the consistency of Stolper's track record is unparalleled. Nobody even comes close.
Face it, the guy has a natural trader's instinct, a nose for finding the winning horse. Yes, his nose always finds the ass end of it, but dammit, it is the winning horse.
Maybe Pisani had been advising him.
Pissani him off.
5 years ago it was bye bye Bear Stearns. Cyprus? Is Greece Lehman? Will Cyprus push Greece over? Italy. Where will bank runs after Cyprus be? And, when does counterparty O/N lending freeze up again? That's next week's panic,
Perhaps the Fed will help Cyprus and the Euro out tomorrow.
Do you feel the wheels falling off?
If the equity markets in the U.S. crash, it's light out-night night. They will expend every last round of ammo to prop this bitch up, at least trying to keep it from caving in.
Ben "Monetary Operant Conditioning" Bernanke holds the fate of the current Pyramid Scheme in his pimp hand. He's in white lab coat, with researchers in his ear, trying to incentivize the lab rats in new, unique ways, B.F. Skinner style.
I've been claiming, with not a single refutation from any source, that the lone, symbolic force that is propping up whatever consumption is taking place (even if the majority of it is in the form of taking on more debt, or "re-leveraging") is Ben S. Bernanke's magical "Virtuous Circle," where the pump is quite selectively exhilarating & seemingly for free (money fer nuthin', chicks for free), but the hangover will prove it was anything but free, will be a real killer, and absolutely pound the majority (whether they temporarily felt wealthier from any transitory "stock portfolio ownership" balance sheet ramp or not).
Operant conditioning works best with intermittent rewards. maybe it's time to withhold a while.
IMHO they're just wobbling a little; but anything is possible; that's why it's so much fun. there are no rules anymore; no limits, no reason or law to appeal too; it's just Wheee!. According to Von Mises, and Dr. Faber, the "crack-up smash" follows the inflationary-intervention party; who am I to argue with them. Makes sense to me.
Closed or Stopped OUT?
Margin call stop out?
Stolpered out.
Who the fuck makes any money in forex trading?
Traders that manage their margin properly.
Good answer; the difference between the famous 90 whatever percent that lose and the others who take it all; is also stop losses. if you don't like being wrong, you can't stand it' you don't accept it and move on; if you try to wait till the market "sees things your way" you will bottom out. It's absolute.
Joe Lewis, George Soros, etc.
Put it this way, it's better to be lucky than good.
I like my odds at Roulette and Craps better!
If you hadn't said that, we wouldn't know you were enumerate; but now we do. Unlike Casino games, the futures market odds are up to you; under your control. study the subject; it's very interesting.
I do. It's not day trading. There's no such thing as profitable day trading; my time horizon is a month to three months. I look for irrational tops and bottoms. I consider the humans involved and what they're thinking about. It's not really that complicated. The one thing you absolutely, positively, must have is a stop loss. I'm probably wrong about 50% of the time; but it doesn't matter; 8 or 9% of my trades make all the profit for the year. When you enter right and the market is trending, you just leave it alone.
Ole reliable.
Even better than old faithful.
lol, this is such a fucking joke. wouldnt expect anything less from piece of shit goldman sachs.
now excuse me while i go turn cnbc on, as they are having a guest who is going to tell me why this 3 day losing streak is a ''buying opp''. also, as cnbc noted, this guy is a long time bear, so i am deff going to listen to him, lol
let me go laugh at this guy now
Meredith Whitney was on CNBC - she thinks BAC goes to 15 and was bullish in general.
Sounds like a really good reason not to watch CNBC; aside from the fact that after about 15-20 minutes; TV produces a trace state in most people; and over a period of years it reduces critical thinking ability to around zero. I have never owned a TV.
so you're just a natural...
What a tricky web we weave, when first we practice to deceive ~
Hey, he is still doing better than Cyprus depositors
Goldman Sacs would never sell against it's clients - I know I've seen the Hitler video....
Goldman Sacs would never sell against it's clients - I know I've seen the Hitler video....
Leverage the potential loss thirty times to get the real picture.
Risk management 101, lest you end up at 0.101%.
Churnham, Burnham, Stolper, Noes, Howitz, Dunn.
hummm, strange man, has anyone ever seen Mr Stolper in the flesh, is he actually real? Just a thought.
man..archetype...algorithm, whats the difference.
I take it back, i found a picture...smarmy little toad. I often wonder what makes men turn to the dark side; i think being skinny and bald is a big motivator, probably a little cock too, but im not going into that, its beneath me.
Still, is it wise to visualize him while trading against his calls
You don't trade against his calls; that's bullshit. you trade the price charts, volume and open interest; and that's all. Never, never, the news. first comes the tip off price move; the news comes later, the public piles in; and that's about time for me to take profits, and say thanks for the fish, it's been nice; Adios.
Your little cock is beneath you? More than we needed to know, I'm sure.
Now the Stolperisation of EURGBP has ended, is it a good time to buy it?
Depends on his next trade...
Did he really DO what he said he has DONE?
I think he really did...but the next trade is probably an intentional fade
Oh come on. After six months steady appreciation he picks the very pinnacle as the time to say "buy"? You can't do that by accident.
Maybe the next one will be a real challenge, like picking the top for EUR/YEN
Is it a private account or did he play using muppet-money? Bet FED will cover the losses anyway.
FRN's are muppet money.
Hedley; "This is the bill that will convert the state hospital for the insane into the William J. Le Petomane memorial gambling casino for the insane" Le Petomane; Gentlemen, this bill will be a giant step forward in the treatment of the insane gambler" (thanks Mel)
Pretty funny considering Goldman folks had to know about Cyprus before hand - it is too big to be missed. Not sure if that guy knew in time, but could be.
" We close the recommendation for a potential loss of 2.8% "....Ummm whats a "potential loss" of 2.8 pc ?
When I close my losing positions there is no potential losses.