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Goldman Raises Stop On Its Long Russell 2000 Reco, Cites Heightened Concerns Of Greek Default
Yesterday, it was Thomas Stolper who capitulated on his latest incursion into the field of 0.000 batting, when he closed his long EURUSD reco (only for the EUR to jump today of course). We can hardly wait for him to announce he is again long the EURUSD for the clearest EUR short signal possible. That said, it still left outstanding the Goldman Russell 2000 recommendation noted here previously. Sure enough, in the aftermath of yesterday's return of risk with a vengeance, Goldman is taking steps to make sure it locks in at least some profits on its RUT 2000 target of 860 by hiking the stop to 810 from 765. The reason? "What has clearly changed in the past week -- and the catalyst for this "leash tightening" -- is that European sovereign risks have reemerged, with continued near-term support for Greece now much more uncertain than we or the markets had previously assumed. With the amplification of these hard-to-assess risks emanating from Europe, and data continuing to support our main thesis, we think that protecting the gains at this point with relatively tight stop is prudent" But why if Europe is suddenly fixed, on the completely meaningless news that the ECB is funding Eurozone central banks with magic money on their Greek bond losses, even as the actual debt notional is not changing at all. At this point, we doubt we are the only one who no longer care.
From Goldman:
Trade Update : Raising our stop on our long position in Russell 2000 index to 810
We are raising our stop on our recommendation to be long the Russell 2000 index to 810. The recommendation, opened on 26-Jan-2012 with an entry of 799.26 and a target of 860, was premised on three considerations. First, we were of the view that the US equity market would continue to be supported by solid cyclical data. Second, US monetary policy had turned incrementally more accommodative. And third, the Russell 2000, in particular, appeared (at the time) to be lagging behind both the data and other pro-cyclical implementations. After some supportive data in early February (in particular, a good January payrolls number), with Russell 2000 responding well, we tightened our stop. Since then, we have been passing through the less macro-intensive part of the month, but the macro data remained mostly supportive, with stronger claims/Empire survey and housing market sentiment balanced by modest misses on retail sales and consumer confidence. And today's Philly Fed survey surprised on the positive too, with forward-looking components, in particular the spread between new orders and inventories, improving. With better initial claims and Philly Fed feeding into our Advanced Global Leading Indicator, we get a picture of a relatively broad-based improvement in the global cycle.
What has clearly changed in the past week -- and the catalyst for this "leash tightening" -- is that European sovereign risks have reemerged, with continued near-term support for Greece now much more uncertain than we or the markets had previously assumed. With the amplification of these hard-to-assess risks emanating from Europe, and data continuing to support our main thesis, we think that protecting the gains at this point with relatively tight stop is prudent
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'At this point, we doubt we are the only one who no longer care.'
If you believe that these people answer to anyone, you should care as there might be consequences, if you do not, why care?
Nobody can stop them from calling "Calvin-Ball" on any play...
Well, GS were actualy correct with this call, which is merely a camoflouged "January effect" call any DT might make.
Pah-lease! When FB IPOs we are all going to be rich!!!
DJ 14,000 here.we.come!!!!!
that facebook i.p.o. is a real piece of work. if the market cap of fb is $100 billion, that means each free facebook "account" (845 million, worldwide) is valued at $120. RFLMAO
845 million retards divulging the most intimate secrets of their lives? Priceless.
https://www.youtube.com/watch?v=cqggW08BWO0
+1) F/B retards. minus ~
The Rusell Index is such a hunk of shit sham -- I'm in FAZ for purely philosophica reasons because FAZ shuold be well over 300 if there was any sobriety and reality in any of it, so I shall patiently maintain my narrative and whatever happens happens even if i lose everything in my shorts bc Russell is laughable...
It's priced in dollars; the dollar is an illusion. The price can be whatever the Fed wants.
True dat. St. James Place and the B&O RR are priced in dollars, no?
Goldfucks opine is as good as a bad case of mudbutt. Crime syndicate, supreme.
First, we were of the view that the US equity market would continue to be supported by solid cyclical data
Did they actually say this with a straight face? Cause I laughed out loud when I read it.
Well, technically one lie can be used to support another lie which in turn is holding 2 others. That has been well proven. Its what happens when you suddenly cant that ....
I cant pull it off...I tried really hard but Im no good at making shit up.
Stolper writes his client updates, like that " Heavens Gate" cult leader. What was his name? Paulson, or was it Blankfein? Oh well I can't remember.
Nigel Farage: "The Greek political class is being forced to take this bailout, instead of telling the Troika where to go (fuck themselves).
http://www.youtube.com/watch?v=O7y45ORzRdI
I think Nigel from Frasier could take Nigel Farage. My two cents.
who capitulated on his latest incursion into the field of 0.000 batting
I know there is likely great insight in the balance of this post, but that is among the best opening lines ever. Whichever of the Tylers drums these descriptions up is a talent among talents. Thank you.
the R2K is slewie's fave!
went down past 666 a few timez last summerfallwinter, but may be rolling over a little as the groundhog may have completely fuking had it with "forecasting" and is nurturing his inner bear nature?
as long as this trip keeps drifting higher on turd vapors and innuendo of what great fertilizer is gonna be applied, keep raising the stop! good!
let's say you got in @ 666 and now, it's 825 + gain of 159 "index points"
159/666 = 24% gain
if ya get stopped out @ 810, you walk away from the table w/ a gain of 144 or just shy of a 22% gain
stealth ww.QE.con = "reasonable" returns on "risk"
the idea that the g/Squid isn't satisfied w/ the FED is pretty funny sometimeZ...
+1 Slewie. Kinda like that aud/usd 1.0850-1.0650 rinse wash trade that is [devolving], into a downward wedge.
doesnt goldman know about the bod swap deal theres no more risk in europe....wtafj
i hate this industry more and more as the days go by...i cant wait to go to law school and reinvent myself as one of the scumbags lol
What would an AAPL div announcement tonight do for spoos the night before expiry.....boooya
Didn't you answer your own question in another post, Mr. hog?
I did indeed...and the upside is still cheap..SPX cash options for tomorrow, approximately 220K call open interest with almost no put gamma offset above 1355 line.... can you say gamma grip and rip
Nice. Never met a groundhog that integrates option Greeks with tee-box jargon. Well played and best wishes with the trading.
I agree with the dividend. Why dilute the stock? Money is available, and it's cheap! 5-8% is my guess. It won't be a (1) time payout either. They are just testing LOYALTY!
It´s reems like a sound reco to me. The markets are tired of doom´n´gloom and wanna LTRO all night long.
Oh, I see.
Did Goldman Sachs also mention the parts about their helping cause and then profiting from the Greek Default?
You know, "Full Disclosure" and all that stuff honest brokers do in respect for the markets and customers they depend on.
Lucky these Goldman guys aren't Germans. I mean think about it: people might be allowed, if not openly encouraged, to hurl bigoted and hurtful ethnic & religious slurs as a result of learning of the destruction and desperation their ongoing perfidy and lies have caused.
And how ugly would that be?
how should I put this - pathetic?
Didn't Tyler always mock Goldman and use it as a contrarian factor? I guess not - when Goldman's view is "in-line" with Tyler's, I guess he can flip-flop and use it as a supporting evidence.
dude, you are good!
The more you say how bad it is, the higher the market goes. I'm not saying you are wrong, I'm just saying you're being absolutely right about facts and fundamentals doesn't matter anymore.
Fundamentals matter in a" Range Trade", which is exactly what we are in ( currently)!