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Goldman Goes Short The S&P 500: 1285 Target

Tyler Durden's picture




 

Goldman has gone short:

Trade Update: Recommending short position in the S&P 500

 

We are recommending a short position in the S&P 500 index with a target of 1285 (roughly 5% below current levels) and a stop on a close above 1390. This morning, the Philly Fed print of -16.6, down sequentially and worse than expected, provides further evidence that weakness has extended into June.

 

Although yesterday's FOMC delivered easing as expected, with a dovish statement, positive risk sentiment ahead of the FOMC had already buoyed markets. And we now think, with incremental US monetary policy on hold, the market will need to confront a deteriorating growth picture near term.

 

The risk to our recommendation is that the data soon reverts to the 2-percent growth path our economists expect, that China growth turns, or that European policy-makers' rhetoric buoys risk sentiment further from here, with the upcoming end-of-June summit a focal point on this count.

S&P 1500 imminent?

Or maybe Goldman finally gets what we (and Citi... and Deutsche... and SocGen) have been saying for months: there will be a massive policy response, both monetary and fiscal, but first a major crash is needed to jar everyone out of the hypnosis that just because the S&P is over 1350 all is well...

 

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Thu, 06/21/2012 - 11:04 | 2547211 Cognitive Dissonance
Cognitive Dissonance's picture

The kiss of death for us bears. Why me God.....why me?

Damn you Goldman, damn you to hell.

/sarc

Thu, 06/21/2012 - 11:06 | 2547222 Ragnar24
Ragnar24's picture

As with any good con, you have to let the mark win every once in a while...

Thu, 06/21/2012 - 11:18 | 2547291 Pool Shark
Pool Shark's picture

 

 

That's it: I'm going long

 

[easy peasy...]

Thu, 06/21/2012 - 11:18 | 2547302 jcaz
jcaz's picture

1390 stop?   Wow, way to really stick your neck out,  GS-  why not just set your stop at 2390?

Worthless......

Thu, 06/21/2012 - 11:49 | 2547451 The Monkey
The Monkey's picture

I had a feeling the Fed was irritated there was no bears to provide fuel for a rally. Now they will get some muppet bears to steam roll.

Thu, 06/21/2012 - 12:46 | 2547664 slewie the pi-rat
slewie the pi-rat's picture

L0L!!!

who coulda node?

  • the rally has failed
  • the squid notices
  • risk0ff, BiCheZ!

 

Thu, 06/21/2012 - 11:53 | 2547478 candyman
candyman's picture

BFD, a bullshit minor league call, woo woo, take out a fucking 10 slow trading days in summer and call it a correction. what a fucking punk. 

Thu, 06/21/2012 - 12:25 | 2547586 fireangelmaverick
fireangelmaverick's picture

"1390 stop?   Wow, way to really stick your neck out,  GS-  why not just set your stop at 2390?"

Actually that is adjusted for a 2:1 reverse split of the USD. You did not hear about it? Latest Krugman Idea. Make 1 USD worth 50 cents. People suddenly think theya re twice as wealthy although the real cost of everything stays the same, so what do they do ....spend.....depression solved.

Thu, 06/21/2012 - 13:14 | 2547777 mayhem_korner
mayhem_korner's picture

1 USD worth 50 cents

 

that trick has been done 4 or 5 times over already...

Thu, 06/21/2012 - 12:45 | 2547658 IndicaTive
IndicaTive's picture

It's a "once in a generation" buying opportunity. Remember?

Thu, 06/21/2012 - 12:49 | 2547682 trebuchet
trebuchet's picture

don t rush. thios is goldman going EXTRA short, with a call like that it is relying on muppets closing out stops at least 20% above that level

Thu, 06/21/2012 - 11:24 | 2547336 Comay Mierda
Comay Mierda's picture

they gotta let the muppets win every once in a while

but their real SPX target is prob much lower than that

Thu, 06/21/2012 - 11:29 | 2547358 tarsubil
tarsubil's picture

Pretty much guarenteed outside their range. They'll screw people one way or another.

Thu, 06/21/2012 - 11:29 | 2547357 Biosci
Biosci's picture

This is the strongest evidence yet that QE3 is coming soon.

Thu, 06/21/2012 - 11:41 | 2547402 xela2200
xela2200's picture

and they want all the suckers on the wrong side, so they can fleece them.

Thu, 06/21/2012 - 11:10 | 2547248 Biggvs
Biggvs's picture

Goldman's recommendation is working so far... Maybe they're pissed that there was no NEW QE and are trying to ensure Ben gets the message loud and clear by next month's meeting.

Thu, 06/21/2012 - 12:40 | 2547285 The Big Ching-aso
The Big Ching-aso's picture

 

 

Imagery:   Flush this phuckin' toilet already. 

Thu, 06/21/2012 - 12:18 | 2547569 Bobbyrib
Bobbyrib's picture

I didn't see your post before I post on page 2, but this is my belief as well.

Thu, 06/21/2012 - 15:18 | 2548308 ZeroAvatar
ZeroAvatar's picture

That's exactly it.  "You want a crashed market?!!  We'll show you a crashed market!!!"

Thu, 06/21/2012 - 11:17 | 2547287 jekyll island
jekyll island's picture

Buy, buy, buy.   QE's a comin'.

Thu, 06/21/2012 - 11:23 | 2547329 DeadFred
DeadFred's picture

A very long time until August.

Thu, 06/21/2012 - 11:21 | 2547313 scatterbrains
scatterbrains's picture

Or could this mean they want folks to load the boat long at 1285ish with an ultimate target of 1000ish ?

Thu, 06/21/2012 - 13:33 | 2547841 Manthong
Manthong's picture

That scene always puzzled me.

Away from the stupid baboons, hot chick, horse, beautiful uncrowded beach, good tan, no Wall Street anymore..

So what was his problem?

Thu, 06/21/2012 - 11:22 | 2547316 slaughterer
slaughterer's picture

Just 1285?

Thu, 06/21/2012 - 11:24 | 2547337 Al Huxley
Al Huxley's picture

Always wait until AFTER the Goldman recommendation to establish your position.

Thu, 06/21/2012 - 11:38 | 2547388 FL_Conservative
FL_Conservative's picture

Every once in a while, when you lead a (w)hores to water AND dunk their head in it, they will finally figure out that they should drink.

Thu, 06/21/2012 - 11:55 | 2547490 ACP
ACP's picture

I just put it thru an online translator. It translates into:

Buy now and sell at 1390.

Thu, 06/21/2012 - 12:31 | 2547535 Frozen IcQb
Frozen IcQb's picture

Why worry?

Unless you’re a leverage junkie, stop swimming in the toilet bowl, stack physical and find something fun to do.

Thu, 06/21/2012 - 13:16 | 2547784 mayhem_korner
mayhem_korner's picture

stack physical and find something fun to do.

 

You say that as if stacking physical isn't fun...

Thu, 06/21/2012 - 12:22 | 2547576 vast-dom
vast-dom's picture

It's the OR Ty.

At some point the financial fuckery aligns with a crash. even the double-negative reverse psychology gambit, slung around enough, will become the backfiring inverted hedge of hedges singularity.

 

Even ZH, from time to time, lines up with Goldman, and vice-versa.

Thu, 06/21/2012 - 11:05 | 2547220 Racer
Racer's picture

Just about to put the house on a long ES..............

Thu, 06/21/2012 - 11:05 | 2547221 reader2010
reader2010's picture

Jim Rogers says he will buy tons of gold if drops to $1100.

 

http://jimrogers-investments.blogspot.com/2012/06/if-gold-falls-to-1100-i-will-buy-lot-of.html

Thu, 06/21/2012 - 11:08 | 2547230 Al Huxley
Al Huxley's picture

Except there seem to be plenty of willing buyers at 1530 - 1550, so he probably won't get that chance.

Thu, 06/21/2012 - 11:13 | 2547271 prodigious_idea
prodigious_idea's picture

Agreed, and am glad to be one of them.  But does anyone here fear eventual higher interest rates and the consequential effect on PMs?  Is the smart long play to buy, and then buy more if rates rise (and PMs drop)?

Thu, 06/21/2012 - 11:22 | 2547323 HelluvaEngineer
HelluvaEngineer's picture

Higher interest rates?  Stop it man, you're killin' me.

Thu, 06/21/2012 - 11:26 | 2547350 Al Huxley
Al Huxley's picture

Not a chance.  The system will collapse before rates are allowed to rise.  Can't even PRETEND to support a $1.5 trillion deficit with anything other than 0%.

Thu, 06/21/2012 - 11:31 | 2547365 gjp
gjp's picture

Interest rates will never go up again, or at least not until we have an actual free market and the current central planners are hanging from lamp posts.

Thu, 06/21/2012 - 12:01 | 2547507 Dr. Richard Head
Dr. Richard Head's picture

One and half years from now marks the end of the target of the Fed's ZIRP policy.  That will be 8 years of robbing savors and fixed income schmucks.  Certainly this cannot go on forever?

Thu, 06/21/2012 - 13:02 | 2547737 koaj
koaj's picture

come see me Jan 2014 and we'll discuss

Thu, 06/21/2012 - 13:38 | 2547877 prodigious_idea
prodigious_idea's picture

I will be surprised if the US or global economies recover in the next two years and ZIRP feels like an unsustainable strategy.  Perhaps the Fed has other tools to prop up the banks but if rates can't be held down . . .  Another poster may have said it best:  food and ammo.  A hard sell to the other half of the marriage although I'm making progress in some areas.

Thu, 06/21/2012 - 11:39 | 2547392 Mitzibitzi
Mitzibitzi's picture

Well, you could, but you'd have to go full Krugman on it's ass.... If you printed enough to devalue the dollar sufficiently that paying down a chunk of the principle debt was possible - in order to kill off some of the deficits, but not so much that it caused full on hyperinflation three seconds later, you could control the resulting 'normal' inflation to some degree by raising interest rates. Be damn tricky and probably wouldn't work for very long, though.

Not to mention the emergency meeting of OPEC that would be called right away, if you tried to kill off any substantial amount of debt by devaluation. You'd need half the US military hanging around the Middle East to prevent them raising the price per barrel through the roof. Or outright refusing to accept dollars for oil. Where are all those military assets these days, by the way??

Thu, 06/21/2012 - 11:48 | 2547444 Terminus C
Terminus C's picture

You do realize that in order to 'print' more so that you can "pay" down the principle you have to create that new "money" out of debt right?

So, you clear the old principle with new debt...  Not gonna work out for Mr. Kruggers

Thu, 06/21/2012 - 11:52 | 2547472 Instant Wealth
Instant Wealth's picture

Didn't Printmaster Ben say yesterday, rates could rise in 2015 ... or was it 3015??!

Thu, 06/21/2012 - 11:27 | 2547354 unwashedmass
unwashedmass's picture

problem with that idea is ... when interest rates get out of control, is anyone gonna want to hold the dollar no matter how much it pays? I think that's a real consideration. 

Thu, 06/21/2012 - 11:29 | 2547355 DeadFred
DeadFred's picture

This game is locked in to ZIRP. If interest rates rise significantly your best investment will be canned goods, bullets and a hideout far away from Zombieland. But take your PMs with you they'll be worth their weight in gold after things settle a bit.

Thu, 06/21/2012 - 11:30 | 2547362 Uber Vandal
Uber Vandal's picture

When did Japan raise its rates the last time?

http://www.tradingeconomics.com/japan/interest-rate

Oh wait, it hasn't had an interest rate above 1/2 of 1% since September, 1995.

Thu, 06/21/2012 - 11:43 | 2547409 Dr. Engali
Dr. Engali's picture

There will never be an interst rate hike. The fed is extending duration on it's balance sheet. If they hike rates they will be technically insolvent. Not that they aren't already, but it will be there for the world to see. Another reason rates won't go up is because the government can't service the debt. We are at the end game, we just need the final catalyst to start the cascade.

Thu, 06/21/2012 - 11:42 | 2547405 reader2010
reader2010's picture

Jim Rogers got it right. 2008 ReRun!

Thu, 06/21/2012 - 11:18 | 2547295 BudFox2012
BudFox2012's picture

I for one am happy about the downward price manipulation of PM's.  It's allowing me to buy more physical than I would have been able to when prices were skyrocketing last spring.

Thu, 06/21/2012 - 11:23 | 2547331 long-shorty
long-shorty's picture

If gold goes to $1100, I will buy a lot of it too. But right now, thanks to the magic of puts, about 14% of our fund is short the gld, and today is feeling pretty decent.

 

 

 

Thu, 06/21/2012 - 11:34 | 2547374 Alea Iactaest
Alea Iactaest's picture

14% in GLD puts? What is AUM?

That said, you look like a hero today but your investment strategy sounds like one of those things that works until it doesn't. Kind of like Bill Ackman...

Thu, 06/21/2012 - 12:46 | 2547662 long-shorty
long-shorty's picture

reading comprehension is a strong predictor of success in many endeavors.

I posted here the other day when we initiated a 25 bps position in gold puts. the delta of that position is now such that we are effectively short gold for 14% of the fund. that does not mean 14% of the fund is puts. the most we can lose on this trade, from initiation to conclusion, is 0.25% of the fund. I hope that helps.

p.s. I think Whitney Tilson was the manager you were trying to reference. Not aware of Ackman having risk management difficulties.

Thu, 06/21/2012 - 11:24 | 2547338 TheCanadianAustrian
TheCanadianAustrian's picture

If gold goes to 1100, I'll be hitting up my bank to give me an unsecured loan for about 6 months of my salary, regardless of the interest rate.

Thu, 06/21/2012 - 12:35 | 2547622 falak pema
falak pema's picture

in this situation lots of ZH investors will have long faces from past dips when gold was 1500+

Thu, 06/21/2012 - 12:44 | 2547653 Quinvarius
Quinvarius's picture

So has gold gone down enough in the face of economic chaos to feel safe shorting it yet?

Thu, 06/21/2012 - 11:32 | 2547370 RoadKill
RoadKill's picture

Ive been saying FOREVER Ill buy 900 Plat when Gold hits 1,000 at SPX 1,000. And Ill buy it with my gains off TZA FAZ SMDD and VXX.

Thu, 06/21/2012 - 12:02 | 2547513 billhilly
billhilly's picture

You and me in the same pain with VXX, holy shite batman that f'er is volitile !  Watching that thing equals good profits for the makers of antacids.

Thu, 06/21/2012 - 13:25 | 2547810 Chupacabra-322
Chupacabra-322's picture

@ reader2010,

The NWO will not reliquish power to the people. Gold builds Nations, Silver is the Gentelmans currency. And you can take that to the bank.

Moreover:

ECB and the Fed's have already printed Trillions world wide in the past 3 years and only budged the Gold paper price about 3-5 hundred dollars.

The only way you will find true price discovery is when a Currency collapses or just Fails.

Thu, 06/21/2012 - 14:19 | 2548091 reader2010
reader2010's picture

Everyone and his brother firmly think so. Roger that.

Thu, 06/21/2012 - 11:07 | 2547227 chanxmanx
chanxmanx's picture

This is a good song to play while reading this: http://www.youtube.com/watch?v=qiMaOmDtaYI 

Thu, 06/21/2012 - 11:07 | 2547229 Dr. Engali
Dr. Engali's picture

Well it's time to BTFD.

Thu, 06/21/2012 - 11:08 | 2547233 Conman
Conman's picture

Goldman has stuffed more muppets than Jim Henson.

Thu, 06/21/2012 - 11:17 | 2547293 PhilB
PhilB's picture

Yep, with Abbey Cohen as Miss Piggy, Hatzius the Swedish Chef, and Loyd Blankfiend as Beaker.

Thu, 06/21/2012 - 11:08 | 2547236 fonzannoon
fonzannoon's picture

The risk to our recommendation is that people have seen our previous recommendations.

Thu, 06/21/2012 - 11:09 | 2547239 Diogenes
Diogenes's picture

This is great comfort to me, in the last 2 days I went long IVW, EEM and DES ETFs. Glad to have Goldman confirm that we are in for a rise in the S&P.

Thu, 06/21/2012 - 11:10 | 2547242 Alejandrito
Alejandrito's picture

Goldman is so obvious that always says the opposite of what it does, that I'm starting to wonder if they are playing with this.

 

Thu, 06/21/2012 - 11:10 | 2547244 pods
pods's picture

I wonder if they have a dyslexic spokesman?

That would explain why they seem to always do the opposite of what they tell you to do.

pods

Thu, 06/21/2012 - 11:11 | 2547246 nobusiness
nobusiness's picture

Even a broken clock can be correct twice a day

Thu, 06/21/2012 - 11:40 | 2547397 knightowl77
knightowl77's picture

Unless, it is a digital clock

Thu, 06/21/2012 - 12:52 | 2547702 Matt
Matt's picture

It's 88:88 somewhere.

Thu, 06/21/2012 - 11:10 | 2547250 RobotTrader
RobotTrader's picture

Jim Rogers is full of it.

 

Always seems like he has an endless supply of cash to either buy more gold or short more bonds or buy more agriculture futures.

Heh, by now, he must be flat broke.

Thu, 06/21/2012 - 11:12 | 2547259 Cleverbot
Cleverbot's picture

No, you see, YOU are the robot, I am teaching YOU not the other way around.

Thu, 06/21/2012 - 11:13 | 2547262 somethingisrotten
somethingisrotten's picture

SPAM

Thu, 06/21/2012 - 11:14 | 2547273 reader2010
reader2010's picture

He says his chinese shares are for his two girls.  LMAO.

Thu, 06/21/2012 - 11:18 | 2547300 kahunabear
kahunabear's picture

I love his saracastic tone that makes anyone he talks to feel like an idiot. Great guy. Always lets everyone know what a "terrible trader" he is.

Thu, 06/21/2012 - 11:27 | 2547351 barkingbill
barkingbill's picture

his point is that he doesn't trade but invests for the long term. if his investments go down for a year or two its ok as long as he sells it the third year in the green. 

Thu, 06/21/2012 - 11:25 | 2547343 barkingbill
barkingbill's picture

lol...the guy is rich....he really does have tons of cash.....

Thu, 06/21/2012 - 11:45 | 2547419 JimRogers
JimRogers's picture

Broke?

 

Maybe you should learn yourself up on the Quantum fund. 

Thu, 06/21/2012 - 12:13 | 2547540 tocointhephrase
tocointhephrase's picture

Goon, if he has gold then he has money, how can you be broke? Honestly you contradict yourself in one sentance. Unreal!

Thu, 06/21/2012 - 11:11 | 2547252 prodigious_idea
prodigious_idea's picture

In all seriousness, would a pullback in the S&P bolster the Fed intervention decision, leading to renewed risk-on, thus investors should consider going long across the bottom with an exit later when the sugar high wears off?

Thu, 06/21/2012 - 11:13 | 2547257 SeverinSlade
SeverinSlade's picture

For once, I think GS may be right.  The only thing I see boosting the market is LTRO3 (given that the ECB is going to attempt to accept anything as collateral as the EU is now moving to completely ignore rating agencies).

Thu, 06/21/2012 - 11:14 | 2547265 magpie
magpie's picture

Just as it was getting nice...

Thu, 06/21/2012 - 11:13 | 2547268 CcalSD
CcalSD's picture

I think they are yanking our chains...

Thu, 06/21/2012 - 11:14 | 2547270 LawsofPhysics
LawsofPhysics's picture

So, risk on?  At least short term.

Thu, 06/21/2012 - 11:14 | 2547272 nobusiness
nobusiness's picture

I expect a 2-3% selloff thru 6/27 then a massive end of quarter ramp job so traders can enjoy the Hamptons in july.  those beach houses don't rent themselves.

Thu, 06/21/2012 - 11:15 | 2547279 khakuda
khakuda's picture

It should read, "We're mad that the Fed didn't print money like Jan Hatzius told them to.  Now we'll show them.  Now, we'll show all of you muppets not to mess with us!  Ah hahaha, A hahahahahah...."

Thu, 06/21/2012 - 11:15 | 2547280 nobusiness
nobusiness's picture

I still don't understand who saw the Philly fed numbers and thought that is a great time to buy???

Thu, 06/21/2012 - 11:16 | 2547284 RoadKill
RoadKill's picture

GODDAMMIT!!! Does this mean I have to sell all my shorts???

FUCK!!!!

Please just this once let Goldman be right!!! Hopefully where they ade wrong is the 1,285 target. Might end up being 1,185.

Btw WTF is with a stop at 1390? If the mkt goes up to 1390 wouldnt you want to double up your short?

Thu, 06/21/2012 - 11:16 | 2547286 kahunabear
kahunabear's picture

W.W.A.D - What would Abbey do?

Thu, 06/21/2012 - 11:16 | 2547288 bigwavedave
bigwavedave's picture

What are they celebrating? RT @MatinaStevis Champagne for the EZ finance ministers. For real @gksteinhauserwitnessed yfrog.com/ob61xnbj

Thu, 06/21/2012 - 11:16 | 2547290 Father Lucifer
Father Lucifer's picture

just 01000010010101000100011001000100

Thu, 06/21/2012 - 11:18 | 2547299 nobusiness
nobusiness's picture

If the market ramped up on the hope of possible QE3 then why isn't it back down to the pre ramp level of 1315?

Thu, 06/21/2012 - 11:49 | 2547450 catacl1sm
catacl1sm's picture

Give it time.

Thu, 06/21/2012 - 11:18 | 2547305 dwayne elizando
dwayne elizando's picture

And just like that I'm a bull!

Thu, 06/21/2012 - 11:19 | 2547307 Alpacanio
Alpacanio's picture

Yep, they know QE's coming...

Thu, 06/21/2012 - 11:31 | 2547364 scatterbrains
scatterbrains's picture

You might be right.  Some might think they usually only make these announcements as a favor to pension and insurance fund managers to give them cover while Goldman rapes their assets (in exhange for membership in the GS club)  but.. but.. Goldman said sell.. how could the managers know the fed was about to print?   oops sorry pensioners no moe money for you bitchezz, Goldman tricked us.. btw I'm retiring and just by luck landed a job at Goldman.. seeya!

Thu, 06/21/2012 - 11:22 | 2547322 Conman
Conman's picture

Confirmation of the impending corzining -cnbc jsut flashed this news. Guess the squid wants to buy, be a nice muppet and give your stuff to goldman.

Thu, 06/21/2012 - 11:23 | 2547330 TheDarkKnight
TheDarkKnight's picture

Dont forget to hedge your hedges children.

Thu, 06/21/2012 - 11:24 | 2547335 SmoothCoolSmoke
SmoothCoolSmoke's picture

I still think you do not short until:

1.  The pop from the SCourt HC decision and/or

2. After 4 July week:  Too easy to manip the market up that week as a Wednesday July 4 ensures no one will be working on WS except the bots

7/9 week looks like it could be ugly, if #1 is past,  and earnings (which looks to be shi-tay) come rolling in.  Buck Fernankie would love a market slide right til the day Jack-ass-son Hole starts.

 

Thu, 06/21/2012 - 11:25 | 2547341 semperfi
semperfi's picture

Mop it up Muppets!! 

Thu, 06/21/2012 - 11:30 | 2547360 BlueStreet
BlueStreet's picture

FGS

Thu, 06/21/2012 - 11:34 | 2547376 InsurgoCasca
InsurgoCasca's picture

God DMANIT!! WTF GOLDMAN?!

Thu, 06/21/2012 - 11:34 | 2547378 barkingbill
barkingbill's picture

while you guys are all whinning about your shorts, the s&p is plummeting....get a grip, even a liar sometimes tells the truth....

Thu, 06/21/2012 - 11:36 | 2547379 firstdivision
firstdivision's picture

Loading the boat with TNA, SSO, UCO, SPY, and FB

 

Whomever goes short the market with WTI below 80 and DXY above 80 deserves to get blow-torched for being stupid.

Thu, 06/21/2012 - 11:39 | 2547393 barkingbill
barkingbill's picture

but wti goes down and dxy goes up for exactly the reason the s&p is selling off, no?

Thu, 06/21/2012 - 11:44 | 2547413 firstdivision
firstdivision's picture

If you're saying that the reason is to slaughter pigs and sheer sheep, then yes.  If you're saying due to economic fundamentals, no.

Thu, 06/21/2012 - 11:37 | 2547382 barkingbill
barkingbill's picture

remember also....just because you guys have figured out goldman is often wrong, doesn't mean all the other muppets with money know that....

Thu, 06/21/2012 - 11:39 | 2547390 caimen garou
caimen garou's picture

so do we go long bullshit and short truth or visa versa ,i'm confused!

Thu, 06/21/2012 - 11:40 | 2547398 anyways
anyways's picture

ALL IN LONG! This is an ultimate wake up call :-)

Thu, 06/21/2012 - 11:42 | 2547403 SmoothCoolSmoke
SmoothCoolSmoke's picture

You don't think Goldman knows the SCourt decision on HC and when it will be announced?  C'mon.  They are positioning for that pop, which they will short the hell out of as the Muppets will take it as the lift off to 1500. 

Thu, 06/21/2012 - 11:45 | 2547424 Duke of Con Dao
Duke of Con Dao's picture

every time Goldman's name is mentioned this film intro should be unspooled... 

YouTube - Goldman Sachs Squid Skull Hood Ornament - Arriving for the Kill

...

perhaps I should change the track music to something like Roll Up to the Bumper?

Thu, 06/21/2012 - 11:48 | 2547438 dbTX
dbTX's picture

GS is the greatest pick pocket artist of all time, stay in the equity market at your own risk.

Thu, 06/21/2012 - 11:48 | 2547439 JohnKozac
JohnKozac's picture

Faber predicted Dow will bounce between 1,200 and 1,400 for the entire 2012. he also predicted gold would end up much higher then the last high of $1,963 and ounce.

 

Who knows?

Thu, 06/21/2012 - 11:59 | 2547501 reader2010
reader2010's picture

Marc Faber is in Show Biz. 

Thu, 06/21/2012 - 12:17 | 2547565 covert
covert's picture

time to short the dollar and euro.

http://covert.ias3.com/expose/

Thu, 06/21/2012 - 12:05 | 2547522 Arnold Ziffel
Thu, 06/21/2012 - 12:07 | 2547531 ILoveTheWorld
ILoveTheWorld's picture

Well there is a inverted head and shoulders that would take the SP500 to around 1390. stop 1325.

Thu, 06/21/2012 - 12:12 | 2547541 Bobbyrib
Bobbyrib's picture

Ben has failed them and now he must pay (watching his beautiful bubble slowly deflate)..

Thu, 06/21/2012 - 12:13 | 2547545 resurger
resurger's picture

On this one GS is right, it must go down but i dont know by how much

Thu, 06/21/2012 - 12:17 | 2547547 devo
devo's picture

Translation: "we didn't get QE3 because the market was too high, mostly because we front ran it gambling taxpayers' money."

 

 

 

Thu, 06/21/2012 - 12:20 | 2547574 orangegeek
orangegeek's picture

They pushed it up as high as it could go, cleared all their longs, got their shorts in position.....AND THEN....announced to the world the SP is going to fall.

Thu, 06/21/2012 - 12:27 | 2547591 magpie
magpie's picture

Actually my gambling system did give a 20 S&P points margin diverging from Goldman's call, but hey i'm only another underwater short talking my book.

Thu, 06/21/2012 - 12:33 | 2547614 farmerjohn2112
farmerjohn2112's picture

Might get there today, by the look of things...

Thu, 06/21/2012 - 12:35 | 2547624 dcb
dcb's picture

well that is stupid trading advice, if you short, stop out on this weeks high, or wait until it breaks the weekly low trend line. I cover all teh bases with my trades with aautomatic stops.

.also since the crooks run the show, you have to establish a trendline. we could ramp up from this level breaching yesterdays low and become pos for the day but still maintaining down channel. they like to tamp up after beaking the prior days alow all too oftn

Thu, 06/21/2012 - 12:35 | 2547627 Splootch
Splootch's picture

ok but 1285 in what 2 or 3 hours?

 

Thu, 06/21/2012 - 12:40 | 2547640 Quinvarius
Quinvarius's picture

That pretty much puts a cork in the bloodletting.  S&P 2000 here we come.  I don't even like stocks.

Thu, 06/21/2012 - 13:02 | 2547665 Bastiat009
Bastiat009's picture

Goldman must be willing to buy stocks and needs you to sell.

Thu, 06/21/2012 - 12:58 | 2547674 earleflorida
earleflorida's picture

The economist Hugh Johnson uses data exclusively from the Philly Fed for his unemployment numbers - today's [Philly Fed] numbers should be a harbinger for a low employment number...  http://www.blogs./reuters.com/macroscope/tags/economic-forecast/    June 1,2012     Oops ___ google search box 

jmo

Thu, 06/21/2012 - 13:06 | 2547755 Killer the Buzzard
Killer the Buzzard's picture

So goldman is actually long... right?

Thu, 06/21/2012 - 13:09 | 2547762 gimli
gimli's picture

Shorts need to cover immediately I feel a geyser approaching

Thu, 06/21/2012 - 13:15 | 2547782 Lost Wages
Lost Wages's picture

Uh oh. I sold in May. Hopefully the upcoming stock rally will be short and die again in the Fall, like Charles Nenner said.

Thu, 06/21/2012 - 13:16 | 2547787 Xanthias
Xanthias's picture

200 DMA right now at 1294.34

Thu, 06/21/2012 - 13:18 | 2547789 amadeusb4
amadeusb4's picture

No, S&P 1500 is not imminent. This is entirely consistent with their previous press releases for QE prior to the FOMC. They were selling into the rally and now see an opportunity to have their positions hit exit targets early by stoking fear on the downside. This should calm bear fears because we are now on the same side of the trade as GS.

Their price targets are entirely meaningless. They will adjust these accordingly as conditions develop.

Thu, 06/21/2012 - 14:04 | 2548023 anyways
anyways's picture

These GS assholes are so sure 'wrong', read muppet their 'customers', as i go all in long in 5 minutes. Counting.

Sat, 06/30/2012 - 15:09 | 2577426 Grand Supercycle
Grand Supercycle's picture

More Equity Rally Expected.

Any traders predicting a multi month equity rally apart from me ?

As of today I am.

Last week was the turning point.

Further equity upside and USDX weakness expected this year according to my analysis.

However the SPX big picture remains very bearish and unfortunately this will not change.

http://www.zerohedge.com/news/2012-12-24/market-analysis

Do NOT follow this link or you will be banned from the site!