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notice the gigantic impending right shoulder slide on the h&s on the s&p...oh, wait...tech a doesn't work...sorry
That's what I spotted to. A 12+ year H&S top. That is epic.
good times...to be on the right side of that trade...
Dream on suckers.
BTW, very nice report packed with very useful info. (Got to give a thumbsup when and where it's due.)
This markets seen it's top for the year. Long term chart is a triple top. The baby boomers aren't going to go through it again. This is the end.
upon further inspection...yes it does appear to be a trip top...take it down to 400-600 in time
That 10% penalty for early withdraw from a 401k is going to look downright cheap compared to a 20%+ correction in the market.
lol...agreed...i told my friend that the other day...he's got a gov job...
Goldman's Sachs, beaches.
The Vix should be hopping come Monday..
What about California? Ill ? The whole US gets downgraded but states skate?
they'll go too...a lot of that muni debt is graded on the assumption that fed debt is "risk free"
edit: iow that the feds will backstop
Revised "down" to 1400? The S&P will be lucky to end abobe 1300, if any ...
S&P 666 Bitchez!
I like the way your thinking. A complete revisit. I called for 1167 and we got to 1168. I think 900 could be next leg lower. The question is do we bounce off this last drop because, (as they say), we are oversold. And then saying the downgrade was priced in. Or do we just fade and quickly drop. Next week will be interesting for sure.
I am thinking technicalities like being oversold are out the window when there is this much manipulation going on, I say it will go down quickly, just based on the news and current events, 666 is symbolic to them of course, but if it goes down then ben can print, becuase he has been in the corner with his hand up for over a month going "call on me I have the answer, I have the answer!", and so it is his turn to answer the question, how do we get out of this mess right now?
If GS really thinks 1400 is a realistic target it means a lot of people are long equities still and equities could fall a lot further.
Why are they only going back to 1975? Why not include the 66-74 bear market?
Do The Math
lower our year-end 2011 price target to 1400 (from 1450) due to downward revisions of GDP growth estimates in the US, Europe, and Asia, along with our commodity
yest, S&P = ~1200, so 200 away from 1400.
200/1200 = 16.7% increase by new years day!
if they had left the estimate at 1450, then we would be 250 away
250/1200 = 20.8% by year-end
so you can see how they benefit from this reasonable movement in the goalposts. most of their customers will just think they're a bit teched in the head and not totally insane
but really, it is hard to tell what this wild bull will try next, isn't it?
WOW, a whole 50 point EOY downgrade, what on earth will we do? LOL These clowns are all posturing for their own positions...half of them short, the other half long.....why even announce a 50 point estimate cut on S&P, that is like me saying I cut AAAPL end of year PPS from $400 to $398 oh man we better panic....LOL
how awesome would it be to always be wrong and get paid well, you would think that the world was full of a bunch of dip shits, hey wait a minute...
thats how it works...they reccomand you a target to sell you into it...this is classic.
Qe3 all the way. Hold yer PMs and ride momos one last time. Because it will be last time.
What are momos? Anyone. Is this refering to treasuries.
This timeless gem immediately comes to mind:
"It's hard to make predictions. Especially about the future."
- Yogi Berra
Almost it's Gold Mansacks. Not Goldman Sachs.
This forecast will prove to be optimistic.
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