That's ok - they made up for it with Abby Joseph's call that it was the start of a new bull market with 10% left in it.
After GOOG was up $15 one day this week, it hits the wires that GS has added it to its 'Most Favored' list. This is a list equivalent to the old 'Uncommon Values' list at LEH. A stock on this list is almost guaranteed to do well and be protected to a certain extent. I don't think the GOOG news was out on wires before this, because even the CNBC commentator said "its odd that GOOG doesn't move for weeks after its earnings, and on a day when its up 4% GS comes out after and adds it to its list." Hmmm, you don't think anybody knew before the press release came out on this? Reg FD only applies to the rest of Wall St I guess.
It's quite obvious that Goldman Sachs has replaced the market manipulators of the gilded age. I came to this conclusion after seeing GS calling for $200+ oil right before it took a dump last summer. Yea it's unfair that they go unpunished due to their clout but this is how the game has always been played. Kind of reaffirms the need to believe in price and only price.
A total remake of the direct access electronic exchange is warranted.... This means .... defragmentation no internal matching no black pools first come first served nominal name transfer rates....ie 20 cents /100 units non-gameable What is clear in this case is that there would have to be a clear trail of "above average order volume" easily accessible by the SEC....which could be viewed with respect to media announcements.... It is clear that the SEC just looks the other way.... Information should be wiki style format .....accessible to all at the same time..... In the GS case....this was a matter of coordinated media announcements.... This means that securities media should be monitored/regulated.... GS clients are smart....early news.....first for the best offerings regarding stocks, bonds.... "Real SMART".... SMARTER THAN ALL THEIR PEERS...... FO....