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Stolper'd Out: Muppets Slain As Usual By Latest Goldman FX Reco
What is there to say here that hasn't been said at least 20 times before (beyond which we have lost count of how many times the trading "recommendations" by Goldman's FX guru Tom Stolper have generated guaranteed returns to everyone who did the opposite)? From October 3: "What would the world be without Tom Stolper FX recos? Very confusing, with no sure money to be made, and without anyone to fade, that's what. Which is why we are happy to bring the Goldman muppet slayer's latest FX "recommendation" In short: "We recommend going short $/JPY at current levels of about 97.30 for a tactical target of 94.00, with a stop on a close above 98.80." In even shorter: Goldman is now buying USDJPY from its clients." While the trade was clear - do the opposite of what was recommended - we had a question: "The only question we have: will the length of time before Stolper is once again Stolpered out be measured in days, or hours?" The answer: two weeks.
And like that, another 150 pips in the guaranteed bag as the latest "fade Stolper" trade closes out.
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Some day when I grow up I want to be Stolper'd too.
<"Bend over and close your eyes cus this is gonna hurt a lot". - Dr. Ben Bernanke>
Fractional reserve banking and mark to fantasy accounting do work (at least until powerful people and institutions demand to see or take delivery of that underlying "collateral").
WHY WOULD ANYONE WANT TO BE A GOLDMAN CLIENT. THEY'RE JUST ASKING, BEGGING, TO BE FLEECED!
There are clients and clients...
John Paulson was a client back in 2007/08. He did pretty well :)
Two weeks
http://www.youtube.com/watch?v=70xGgWIw5tU
Why worry about it, only people getting skullfucked are GS's clients. Other People's Problem at that point.
The American people are all Goldman Sachs clients. They own stock in the Fed. You'll take your raping whether you like it (or know about it) or not.
No one was going to pay it anyways. Didn't matter if it was a dollar, they don't have a dollar to give. The whole system is flat assed broke. Mathmatically impossible for anyone to ever pay it back. Logistically impossible by proxy of the math.
Muppets, don't worry, it is just a flesh wound!!!
Onward, forward gallant Muppets!!!
October 3rd ... hey that's my birthday! Thanks, Tom!
So do they actually cut this man a check every two weeks? Or is he there just for the lulz?
Yes and yes.
Well, let's see how Gold fares after being Muppeted by the debt ceiling hype...
All Muppets will die on "Black Tuesday", Oct 29, 2013.
"I did not have sachs with that broker" http://www.youtube.com/watch?v=Lx4poQw1mZo
A laughing stock to the real world, a hero to the Goldman bottom line. (Stolper).
"ausgestolpert",
is the correct German grammar for the participle. Anybody in the discussion about Mr. Stolper's limitless incompetence ever realised that "stolpern" is German for stumbling. What a name for Mr. Constantly Stopped Out himself.
Haha, richtig! Sehr lustig!
Orly, Yen Cross, did you two net anything from your shorts? I'm still holding my long at the moment.
http://www.zerohedge.com/news/2013-10-03/goldmans-tom-stolper-has-fx-tra...
I wasn't trading in the yen. I was long the Cable (GBPUSD...) pair. Still am. Buying on the dips.
What I said was his reasoning for taking the trade was solid. How could he know that Boehner and the Boyz would come to such a terrific impasse over this mess? And, actually, his reasoning for the trade is still solid. Once traders figure out that this whole debacle is hardly dollar positive, USDJPY will plummet and Euro and Cable trades will bounce much higher.
Consider:
I suspect that we will figure all that out by the end of this week and Mr. Stolper should put back on his short yen crosses trade. Be keen and nimble and you'll be just fine.
:D
Good to hear. I was hoping you didn't take a hit on that. Cable has been crazy lately. It's hard to believe how comfy it's become with the 1.59-1.60 range. Have a good one and best of luck out there. ;)
You are trading two dead horses against each other, so you best have the reaction speed of a viper to move into something else when the time comes. Very risky trade position, good to trade and 'profit' by but the profit is wrecked with inflation. With the default position of 'print' it, the FX trade is in the infinite risk category.
Why not throw the ball farther down the field? Gold, silver, BTC, cans of beans, seeds, hardware, education in trades. Something with a future.
You misspelled RICO.
I don't know if its the kermit picture or just the pure insanity of what happens with Stolper, but these articles always make me laugh. Does that make me a bad person?
That picture is gona be me this saturday night.
Rut row!
OK, it's clear these trades are contrary indicators. What comes next after the muppets sell their yen to Goldman after a 150-tick loss? That stop level might be even more important than the entry level, if enough people are either following original trade or doing the opposite. Both crowds have a great interest in the line in the sand! Stands to reason that it has a good chance of being either the reversal point, or, the start of the next leg of the move. Which will it be?
Think "maximum pain theory" and apply it to their mupppets who have just been stopped out with a loss of ~150 ticks (or $1875 + commish on 6J futures if they know how to take a reciprocal).
Wouldn't they feel MAXIMUM PAIN if it reverses just after they're stopped out? I think so.
If GSCO's goal is to rape their clients, what is the trade to do NOW? Two possibilities:
1) enter original trade direction at the Stop level instead of the original Entry level, trading in original direction?, or
2) enter the OPPOSITE of original trade, expecting a reversal in USD/yen just after muppets are stopped out, with the profit Target being the original Entry level?
Is anyone trying to get workable trades out of Stolper's recs with entries at his stop levels?
The most frustrating thing to a trader is to have a trade reverse just after they're stopped out at a loss. If the point is to cause maximum pain, then maybe we can get two trades out of these and not just one.
While this trade would have obviously resulted in a loss if the recommendation was followed, Stolper did recommend going short gold earlier this year and also going long the FTSE, both of which would have been profitable. (Both of these trades were posted on zh at the time of initiation, with no follow up, maybe because they were profitable, and there is no good story there about "muppets"???) Anyway, imho fwiw, zh should be committed to what's true and not what will get everybody riled up. Otherwise, it's just as bad as every other biased blog.
I don't follow Stopler's recommendations, but independently, I arrived with the premise to go long the Yen vs the Dollar at 97.55. It had previously challenged the mid-term rising trendline. However, immediately, the trade went above the descending channel after briefly bouncing below the ascending trendline. I promptly exited with a miniscule loss.
I beginning to believe the prima-facie evidence of a Stopler recommendation is arguable. However, I am compelled to also conclude that he (and GS) know more than just technical analysis; and cease every oppertunity to get retail to go in the opposite direction before placing their prop-trades.
To conclude, I have caught nearly every Stopler trade except for this and a few others this year. It'd be great if Zerohedge could continue to post his recommendations.
so you go with Stolper's recommendations or fade them? I think the Stolper recs. are also good information, too, just not the commentary that follows only the losing trades.