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Goldman Closes Long Russell 2000 Trade On "Sagging Macro Data", "Softer Patch In US Data"
Busy day for our friends from Goldman who are now turning quite bearish it appears following the two GDP cuts earlier.
We are closing our recommendation to be long the Russell 2000 index ahead of our 860 target for potential gains of c2.25%, opened at 799.26 on 26-Jan-2012. We initiated the trade to express the view that cyclical bits of the US equity market were likely to be supported by ongoing improvements in the US data, that US monetary policy had turned incrementally more accommodative, and that the Russell 2000, in particular, appeared (at the time) to be lagging behind both the data and other pro-cyclical implementations. After some impressive data in early February, which boosted the Russell 2000, over the last month still-solid macro data has failed to produce further results and the Russell -- along with other high beta/cyclical implementations -- have sagged (even though the S&P 500 has continued to progress). This may partly reflect the headwinds from higher oil prices and with today’s weaker-than-expected ISM, and forward-looking components also turning softer, we have decided to close this position with modest gains.
Despite our shift back to neutral, we will continue to use the data to inform our tactical trading stance, and will consider reengaging if the current softer patch in US data turns out to be transient. But our view of forward risks is more balanced at this point, having already seen a significant data-driven market rally, and with the data turning incrementally less uniformly good.
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Ah crap. Guess Dow 15k here we come on the anti goldman trade.
A case of beer $15
Hot and ready pizza $5
Goldfuck Ballsach opine: totally worthless
I'm expecting the Dow/Hot Pockets ratio to hit 1:1 before this is over. Load up now, bitchez.
"... incrementally less uniformly good."
My, oh my! Did Ben Barewanker write that?
Goldman might actually be right on this one. The sun shines on a dog's ass sometimes.
This plus the ISM report earlier (prices!) means no QE3 in the near future. Plan accordingly.
Go Figure. Goldman First In, Goldman First Out. Smartest in the house. Hmmmmmm. They are the house.
I love then they use words like "softer".
Yeah, like a kitten.
The title of this article sounds like a 1970's B-grade porn film.
Not that I would know anything about that.........right Mrs. Cog? :>)
Transitary.
..and a barberous relic
Maybe they got a tip from Ben that the FED will be raising rates in six months since we are "in recovery".
I hear people say they will never do it, that they can't do it, but it would appease the baby boomers who want to invest in Treasuries and hurt PM's.
Deficits of $16 Trillion plus don't seem to matter to them, so what would another $16 Trillion of debt, more foreclosures, and a crushed real estate market mean to TPTB? More foreclosures = more $$$ for the banks and rental properties for the elites to rent out to the plebians.
Just one small problem with the impact on (increasing) debt payments.
I hear you, but do they care about increasing debt payments?
I mean, if they are willing to slosh out trillion upon trillion to float the markets what's trillions more?
I'm starting to hear the "raise rates to reward savers" talk, along with the "recovery" talk.
Greenspan did it in 2005 after they had talked everyone into taking out ARM's and home equity loans tied to prime, and he ramped rates up until the markets collapsed in 2008. Who's to say the Bernank won't do the same thing to "reward" retirees and savers with the real goal being to crush PM's?
Who won and who lost in the 2001 to 2009 time frame? The banks. Who is the FED serving? The banks.
I go back and forth but I have a nagging feeling they will make a surprise rate raise post election.
theyre just goosing for more qe twist pomo swaps whatever the fuck lee quee dee tee momo doelarz
Not going to happen.
Transylvanian Vampire Squid.
As SkyNet prices in this info:
Long Russell 2000
"..our friends from Goldman ..are now turning quite bearish.."
You'd be bearish at Goldmans if you'd seen their turnover tank so hard past 4 years
Blankfein still there? ...not many modern CEO's could cling-on so long to their sinking (and bankrupt) ship
So what GS is really saying is 'we now have built a sufficient short position in IWM and want to lock in some profits'.
A closing value after today, above $25.71 on $VXX Volatility ETF would put a heavy bid and upward bias on volatility for Spring
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From :
http://www.zerohedge.com/news/observations-engineer
Economic discussion often makes reference to "slowing growth" or "soft patches" as either a symptom or part of the problem in national and world economics. But the Hubbert like Curves for oil and other resources may eventually be structurally enforcing contraction (and not growth), year after year after year. "Slowing growth" is a phrase that we may be collectively deceiving ourselves with. Many changes that might slow down or contract various sectors of the world economy can be expected when a comprehensive forward looking economic analysis and risk assessment is done under the constraints of declining inputs. Contraction and austerity affects might be forced by declining inputs or even be forced by an anticipation of soon declining inputs and the affects of contraction would likely be felt across all social classes
GS and I disagree on the Russell. They might be right this time LOL!
Goldman's bearish, go loooong everything.
So GS is up 4.88% at $120+ as of 1330 New York Time...
Somebody likes the call.
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goldman is position to short selling everything.
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