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Goldman Stolpers Clients Again As EURUSD Breaches 1.3500, Squid Stopped Out On Friday EURUSD Trade Reco

Tyler Durden's picture


Well, it didn't take one day... It took a whopping two days for our always contrarian call to do the opposite of what Goldman said on Friday, to materialize. As we said on Friday afternoon, "Time to sell the EURUSD with both hands and feet, not to mention with MF Global-type leverage: that uber-contrarian FX indicator, Goldman's Thomas Stolper, who has not had a notable call correct in the past 2 years, just came out with a long EURUSD call, calling for a 1.40 target and a 1.35 stop loss. Yes, this means Goldman is now selling EURUSD until 1.40 and will begin buying it at 1.35." 48 hours later Goldman's clients lose big, Goldman's flow desk wins, and anyone who agreed with our traditional cynicism made several thousand pips assuming the proper use of MF type leverage.


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Tue, 11/15/2011 - 12:39 | 1879405 PicassoInActions
PicassoInActions's picture

i made but not much, will do better next time

Tue, 11/15/2011 - 12:42 | 1879415 nope-1004
nope-1004's picture

Doing God's work.

Gotta love it.


2 Corinthians 11:14
No wonder, for even Satan disguises himself as an angel of light.
Tue, 11/15/2011 - 12:45 | 1879437 smlbizman
smlbizman's picture

...and has anyone seen or heard from blankfien since he lawyered up.....

Tue, 11/15/2011 - 21:21 | 1881064 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

The world is a vampire.... Hitler would be proud.

Tue, 11/15/2011 - 12:47 | 1879449 Vaiman
Vaiman's picture

Amen to that!

Thu, 11/24/2011 - 23:18 | 1912076 HedgeAccordingly
HedgeAccordingly's picture
  1. Chicks - and Nice leather seats -
Tue, 11/15/2011 - 13:13 | 1879517 karzai_luver
karzai_luver's picture

perhaps there is life in the ol squid yet!





Tue, 11/15/2011 - 12:40 | 1879416 GeneMarchbanks
GeneMarchbanks's picture

Why not just keep the trade unless you think there is a bounce coming soon...

Tue, 11/15/2011 - 12:42 | 1879429 strannick
strannick's picture

Thomas Stolper is as good a reverse Euro caller as Nadler is for gold.

Tue, 11/15/2011 - 12:45 | 1879434 GeneMarchbanks
GeneMarchbanks's picture


Tue, 11/15/2011 - 12:48 | 1879451 Don Birnam
Don Birnam's picture

Gartman's reverse calling abilities are universal, spanning all asset classes.

Tue, 11/15/2011 - 12:46 | 1879444 Don Birnam
Don Birnam's picture

"Stolpers" ( pres. tense ) -- "Stolpered" ( past tense ) -- verb. Synonym: "shtupped."

Tue, 11/15/2011 - 12:45 | 1879438 PicassoInActions
PicassoInActions's picture

i burned several times with EURO

some how its so resilent... some1 is constantly pumping .

Better safe than sorry, i would say we will stay above 1.35 for the day

Tue, 11/15/2011 - 12:59 | 1879473 DormRoom
DormRoom's picture

As soon as the Euro implodes, the USD-JPY will collapse, and the BOJ will have to massively intervene.  Thus you will see Japan's economy crater.


Love Is A Burning Thing
And It Makes A Fiery Ring
Bound By Wild Desire
I Fell Into A Ring Of Fire

I Fell Into A Burning Ring Of Fire
I Went Down, Down, Down
And The Flames Went Higher

And It Burns, Burns, Burns
The Ring Of Fire
The Ring Of Fire

Tue, 11/15/2011 - 13:35 | 1879567 s2man
s2man's picture

LOL.  I was singing that when I woke up this morning.

Tue, 11/15/2011 - 14:08 | 1879636 pods
pods's picture

I always thought the Ring of Fire was the euphemism they used for the can at Pepe's All You Can Eat Chili Emporium?


Tue, 11/15/2011 - 12:59 | 1879481 Foul Ole Ron
Foul Ole Ron's picture

Sovereigns, central banks, Midle East are all buyers as they constantly diversify their USD holdings for various reasons. Eurozone banks deleveraging currently are also buyers. That'll put a halt to any sustained dip - hedge funds and the like would love to run EUR down but they're hitting brick walls. It'll change when more participants want USD a lot more i.e. when the shit properly hits the fan in a big way.

Tue, 11/15/2011 - 12:42 | 1879428 slaughterer
slaughterer's picture

Der Stolper bekommt dieses Jahr kein Boni.  

Tue, 11/15/2011 - 12:39 | 1879409 GeneMarchbanks
GeneMarchbanks's picture

A nice break at 1.35 aaaannnd it's gone.

Tue, 11/15/2011 - 12:40 | 1879411 monopoly
monopoly's picture

Amazing how a squid with billions can be so wrong and this site, with donations helping every day can be so right.

And they are buying the dollar and moving out of gold some today. What a bizarre world we live in.

Tue, 11/15/2011 - 13:26 | 1879546 Arius
Arius's picture

Not very hard to figure it out ... it all depends how you look at your client ... do you think they can afford another haircut? are they fools which for the better good of the society should be separated from their money ? 

this site on the other hand is giving info to people they do not even know ...not hard really ... if you ask me not hard to figure out WHO IS DOING GODs WORK...

Tue, 11/15/2011 - 12:40 | 1879412 LongGold
LongGold's picture

I'm pretty sure the squid wasn't stopped out. But the clients that were stupid enough to take the trade were :-)

Tue, 11/15/2011 - 12:40 | 1879413 homersimpson
homersimpson's picture

Goldman's motto: "We'll sell our mothers for a dollar."

Tue, 11/15/2011 - 12:42 | 1879423 GeneMarchbanks
GeneMarchbanks's picture

GS employees have mothers now? News to me.

Tue, 11/15/2011 - 13:30 | 1879560 Jena
Jena's picture

No wonder the dollar is losing its value.

Tue, 11/15/2011 - 13:51 | 1879601 Max Hunter
Max Hunter's picture

Reptiles and parasites have mothers.. they are just immediately abandoned at birth.. or prior to..

Tue, 11/15/2011 - 15:52 | 1879974 DaveyJones
DaveyJones's picture

Lloyd told me he was immaculately conceived. Does this mean he'll be crucified?

Tue, 11/15/2011 - 17:58 | 1880417 ToNYC
ToNYC's picture

As in Patton, you got that wrong. Gold men delight in Sacking your mother for that send her in, or wait they'll work a sting. Their mothers didn't love them so they substitute the lowest common denominator of white trash money and never get there. Fk'm.

Tue, 11/15/2011 - 12:41 | 1879417 Zola
Zola's picture

Since when does anyone listen to the advisory desk of an IB ?? No stake at all in being right about their calls. 

Tue, 11/15/2011 - 12:43 | 1879431 Fortunes Favor
Tue, 11/15/2011 - 12:44 | 1879432 Mactheknife
Mactheknife's picture

>Goldman's clients lose big,

It's hard to figure how they still have "clients".

Tue, 11/15/2011 - 12:46 | 1879435 vegas
vegas's picture

Back in the day, when pit trading ruled the universe,  people would pay guys like Stolper to stand somewhere nearby and pontificate on market direction. 100% wrong is as good as 100% right. Everybody has a gift for the world, if only they could see it, and from what I've seen, the prop desk loves his ass.


Tue, 11/15/2011 - 12:46 | 1879441 EZT
EZT's picture

Why aren`t they selling more..

Tue, 11/15/2011 - 12:47 | 1879448 YesWeKahn
YesWeKahn's picture

How did Mogan stanley do?

Tue, 11/15/2011 - 12:49 | 1879452 Vaiman
Vaiman's picture

These guys should have their asses thrown in jail.  Their day of reckoning is coming soon and it don't look good for them.

Tue, 11/15/2011 - 12:51 | 1879455 glide21
glide21's picture

haha, the usual malarkey, the bank do it again, why am I not surprised, and short and now long Euro?


Forex Strategies

Tue, 11/15/2011 - 12:51 | 1879457 Racer
Racer's picture

Doesn't any know that round number stop are a stupid idea? Ah yes the suckers suck in the suckers to suck them dry

Tue, 11/15/2011 - 13:23 | 1879543 Instant Wealth
Instant Wealth's picture

... the round numbers are for clients only.

Tue, 11/15/2011 - 18:01 | 1880435 ToNYC
ToNYC's picture

Of course it doesn't long as it moves for any and all reasons, they get  chance to steal something in the motion. It all happened so fast!!!

If you move to their words, you are born-to-lose.

Tue, 11/15/2011 - 12:52 | 1879462 JenkinsLane
JenkinsLane's picture

Maybe "stopler" should become a new verb? For example, "Oh sh*t, I've been stolpered!"

Tue, 11/15/2011 - 13:16 | 1879525 Instant Wealth
Instant Wealth's picture

The German language has the verb stolpern.

The English translation is to stumble.

... humble Tom Stumble

Tue, 11/15/2011 - 12:56 | 1879464 Global Hunter
Global Hunter's picture

Oil up, gas up, silver up, gold down can it really be this simple?

edit: i re read the link I posted and to be fair they recommend going long WTI and gas

Tue, 11/15/2011 - 12:56 | 1879470 firstdivision
firstdivision's picture

I tried to use the leverage that MF Global did, and I was arrested for fraud.

Tue, 11/15/2011 - 13:04 | 1879487 IrritableBowels
IrritableBowels's picture

Anyone know why the market just surged 40 points?

Tue, 11/15/2011 - 13:08 | 1879497 Caviar Emptor
Caviar Emptor's picture

Easiest quick money for the bots and algos

Tue, 11/15/2011 - 13:09 | 1879505 Beatscape
Beatscape's picture

The USD pulled back.  The reaction in the ES / SPY was instantaneous and on the vicious side.

FWIW... I've been doing well buying the XLE on stock market dips and buying FAZ on rallies.  Pure day trading... not for the feint of heart.  

Tue, 11/15/2011 - 13:13 | 1879518 IrritableBowels
IrritableBowels's picture

You got that right.  I get Tourette's for about 7 hours a day.  TVIX.

Tue, 11/15/2011 - 13:53 | 1879608 Ragnar24
Ragnar24's picture

True... but what caused USD to pull back? 

I'm wondering if it's that same situation that ZH pointed out a week or two ago: EU banks and sovereigns are selling dollar-denominated assets and converting proceeds to Euros (to fund their losses in BTPs and now OATs)???

Tue, 11/15/2011 - 13:05 | 1879490 hungarianboy
hungarianboy's picture

To bad, but goldie has moved their stop below 3484

Tue, 11/15/2011 - 13:06 | 1879492 Beatscape
Beatscape's picture

Fascinating... Stock market inverse correlation to the USD is at about 1.0 and instantaneous.


Tue, 11/15/2011 - 13:09 | 1879502 firstdivision
firstdivision's picture

QE3 front running

Tue, 11/15/2011 - 13:10 | 1879506 YesWeKahn
YesWeKahn's picture

What's the rumor? The market spiked almost a full 100 points within 5 minutes.

Tue, 11/15/2011 - 13:44 | 1879587 DOT
DOT's picture

Fluffing. Someone is getting ready for the money shot. I'm out.

Tue, 11/15/2011 - 13:11 | 1879510 vegas
vegas's picture



Please make another FX call as soon as possible. My family and friends are in dire need of funds, and you are as good as it gets - kinda.



Tue, 11/15/2011 - 13:23 | 1879544 GeneMarchbanks
GeneMarchbanks's picture

QCTM (quietly chuckling to myself)

Tue, 11/15/2011 - 13:12 | 1879511 Dr. Engali
Dr. Engali's picture

Thank you Goldman for the easy money. How you still have clients is beyond me.

Tue, 11/15/2011 - 13:13 | 1879516 kaiten
kaiten's picture

When euro falls below 1.30, QE3 begins.

Tue, 11/15/2011 - 13:16 | 1879523 Can2001
Tue, 11/15/2011 - 13:28 | 1879548 devo
devo's picture

Goldman always has an agenda, and it's not to help you or I.

Long-term, if the Euro doesn't implode it is going to 1.

Tue, 11/15/2011 - 13:27 | 1879553 Foul Ole Ron
Foul Ole Ron's picture

Even the choice of 1.35 as a stop was bizarre. Why anybody would choose a stop of 1.35 when we had a swing low of 1.3483 on the 10th is beyond me. Have to admire the balls of the guy who can put out a rubbish call and then not even have the good grace to give the trade an even plausible stop of 1.3480 or something. Another giant fuck you buddy from the Squid. Thanks for the tip though Tom.

Tue, 11/15/2011 - 14:10 | 1879578 GoinFawr
GoinFawr's picture

The llord is here, llord is there, llordy bleakfiend everywhere.

Got his GS alumni 'Best Boy' Mark Carney in Northern Great White Canuckistan talking up printing presses:

“The death of cash is greatly exaggerated,” said the bank governor, paraphrasing Mark Twain, during short ceremony at the MaRS Centre.

Hur hur hur Marky Cark and the Funky Smelling Bunch. Egregious misrepresentation of Twain...  Old tricks are the best ones, eh?

Question buddy, in the era when that quote that you've appropriated for the squid was made, what would be considered 'cash money' exactly?

Hint: Not paper or plastic bills, pal. You wish.

I bet Canadians wish they hadn't had their cold lips pressed quite so firmly to Gordon Brown's bottom now, eh? Turns out selling their gold was kinda like licking a flagpole in Regina in January; you're stuck with it, Timbittits.

Screw you Marky, the GWN msmedia may be gilding you right now, but trust me, your prestidigitation is more on the level of some guy hawking ring-toss at the PNE:

Mark the 'Carny'

Tue, 11/15/2011 - 13:57 | 1879616 Voodoo-economist
Voodoo-economist's picture

ouch ouch ouch, the best trades are always the missed ones . 

Tue, 11/15/2011 - 14:10 | 1879645 Apocalicious
Apocalicious's picture

I have a good friend who used to be an MD at GS. She left in the late 80's, she says "As soon as we started arbing our clients." She is/was an FX trader.

Tue, 11/15/2011 - 14:27 | 1879710 kulgogi
kulgogi's picture

Thanks ZeroHedge -- whoever you are -- for your insights.  Most impressive.

Tue, 11/15/2011 - 14:43 | 1879770 Grand Supercycle
Grand Supercycle's picture

NASDAQ megaphone pattern on daily chart indicates a big move lies ahead.

SP500 monthly chart remains bearish and USDX weekly remains bullish, so it’s only a matter of time until the market makes its move.

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