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Thanks Again Stolper
Yesterday, at the close, the most lucrative "strategist" in the history of FX, Goldman's Tom Stolper, moments after he was closed out on his EURGBP long reco with a 2.8% loss in one week, came out with a new note, refuting his previous long-held view that in the long run the EURUSD is going much higher, specifically saying the following: "Once again we face rapidly rising uncertainty with regards to the next leg in the never-ending Eurozone crisis. Many of the features, including the unpredictability of the next headline during the final days of a bailout negotiation have been seen before, many times in fact. Short EUR positioning is not stretched yet and the EUR still looks like the natural hedge in case the situation in Europe derails more systemically. Although EUR/$ implied volatility has risen, it remains at levels that are well below those seen in past periods of stress, so options are not prohibitively expensive. The Euro has already responded and this move has pushed us beyond the stop loss in our long EUR/GBP recommendation. Moreover very near-term risks are once again skewed to the downside and a move to EUR/$ 1.25 or even lower remains entirely possible depending on the progression of the negotiations and the flow of headlines. The lack of clear majorities in the Italian parliament and the inability of the Greek government to deliver the agreed reduction in public sector payrolls all add to tactical downside risks here." We promptly took the hint and the second the note hit the tape, we advised on what is the only logical trade.
Another Stolper alert: "and a move to EUR/$ 1.25 or even lower remains entirely possible" Time to go long
— zerohedge (@zerohedge) March 19, 2013
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What happened next should already be quite obvious.
70 pips higher we took profits as we don't want to be too greedy.
We know we can rely on Stolper to be out with yet another money-making trade (anti) recommendation shortly.
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You got Stolpered!
Ah Ha, Santelli "President got his final four picks in. and the budget will be coming soon"
It's so easy even Kunis can do it.
What do these analysts think... that they can predict the future? sheesh. These stupid predictions are just marketing material for them to move the crowd into their own playbook.
Stolper's antiprecision is uncanny.
His office must be in a mobile home park somewhere and can't be found.
No other logical explanation.
PHYZZ
Less downside....more upside.
ZERO COUNTERPARTY RISK.
I'll take my chances!
A bright spot in gloomy, dark times...the anti-stolper contrary trade... :) Thanks Tom!
Crisis over BTFD
Muppets getting slaughtered. Just another day doing god's work.
Mooooooo!
Follow the herd. Moooooo!
I would love to say "Stolper, the only strategist capable of being out smarted by a coin toss", but it just wouldnt be true. (no offence coins)
Always invest with running Stolps.
So does Goldman look at Stolper's strategies and take the opposite or do they guide his market observations and timing? Way to go, Wrong Way Corrigan!