Blah, blah, blah . . . Perhaps you might want to read up on the NYSE "SLP" program that went into effect last October and how Goldman is involved in those 500 stocks to reap the benefits of a rebate before popping off about "their little manipulation tool" being stolen. Seriously, do you trade for a living or do you just post all day long on ET?
Thanks for hijacking the thread! However, to answer your question hijacker, you have 7000 posts under your belt in the last 900 days. Do the math...you are the one who spends all day on ET. Get a life my man... http://www.urbandictionary.com/define.php?term=thread+hijacking
The only thing I can make of the statement about less competition is that you indulge a lot in reading the news and taking it at its face value... sure less competition sounds good on the face of it, but have you ever exercised ur grey cells enough to wonder the ill effect of less competition.. without going into too much detail... there is a high probability that their edge involves high competition in the first place! think of all the scenarios that can be caused by a decrease in market activity and risk etc for the resulting trade opportunities then that statement would not make as much sense.. Is Goldman a technical short... yes are the odds great... hell no.. pretty even from my perspective.. I will not speculate on which direction Goldman takes (i am long on the Puts though)... but my point being... stopping taking bits and pieces from the news... take ur head out of ur arse and THINK! As far as the TARP is concerned... they had $10 billion to pay back... that's a shock!! And in case you dint realize it i'm being sarcastic... Cheers!!
Today was a very good lesson on what it means to be humbled when you know a trade is a "guarantee".To those who leaned and got hurt take it as a valuable lesson and move on. tommorrow i'll let the mkts reaction to gs #'s tell me what to do
strange stuff. why would anyone care about the stock of one of the largest market maniplators ?!?!? you not going to win this one on average. They dont do business and then get earnings like some straight company, they are smoke and mirrors, do things for no other reason but to fool you. ?!?!? you figure !!!!
So I take it you are still short into earnings Jumpshot. I have to ask since I've been terribly abused in the past by folks that say they covered AFTER a stock ROCKETS. I've never fully recovered.
Shorting GS into earnings, especially since FASB 157 tinkering, is dangerous. Technically, it was a solid setup, but the exogenous events over-rode the technicals. I have felt the rath of the GS short gone awry, and it's not something I wouldn't try unless you had more reasons than just technicals. The problem with shorting GS is that the GS is held in much higher regards than the other financials/BHC's. When so many participants favor a company like that, it's tough to get them to sell or short. GS definitely has millions of groupies.
I dont think any of you guys actually look at charts. Maybe some of you just lurk in the forum, dont actually trade and throw out advice when it seems a trade is going the wrong way. Some you seem to think and believe that trading is all about intermediate to long term holding with no stops, setups or specific strategy. I guess that attitude comes from having a non-trading day-time gig and attempting to understand the markets from that vantage point. If you had looked at a chart, then you know where that resistance stands and the setup that I am alluding to. If it goes above my stop price, then I cover and find another entry point. Thats how the trading game is played. Lots of small losses, but a small amount of larger gains that makes up for the smaller losses. Thats how I do it and I do just fine with it everyday. Most setups fail, but those that do not fail is where the money is truly made. This setup is not a failure, not yet...
who the hells talking to you jump? i'm talking to the people who said gs was aglowing short and shorted it at fridays close of $141.50.they're now stopped out period. as far as charts stick them up your ass they're worthless. how about the break of 875 on the s@p. as the chart said that was huge but all got slammed today