Discussion in 'Commodity Futures' started by straddler, May 13, 2005.
Does anyone out there hear anything or is it just the Smith Barney downgrade of brokerage stocks?
I am with ya on this trade, I keep wondering if one of their hedgefunds is in trouble or something? I havn't found any relevent information yet!
Looks like no support until 91.
I project support at 97.74, let's see what happens.
looks like Goldman may have bought the top in oil, and now they're paying for it.
i knew that Oil @ $105 call was suspect. they mighta been trying to move it back up so they could bail.
Bought the top in oil?
LMAO. You haven't been following Goldman much eh? That is their method of getting short.
i was going by the Barron's article, but i'm long GS so i hope you're right.
yeah, and/or getting soros out.
Just like CSFB didn't own any of Grubman's stuff, nor Merrill owning Blodgett's. The CLIENTS of both owned them and were encouraged to buy much more, and we all know what happened from following that sage advice.
ouch. looks like they did take a bath in their commodity trading.
"Net revenues in Fixed Income, Currency and Commodities (FICC) were $1.52 billion, 20% lower than the second quarter of 2004, primarily due to lower net revenues in credit products, interest rate products and commodities. In addition, mortgages performed well, although net revenues were lower compared with the second quarter of 2004, while net revenues in currencies improved."
net revenues in currencies improved.. meaning the fixed income (carry trades) and commodities (most likely oil) took a disproportionate beating.
stock isn't doing too bad so far. CNBC has been pounding GS all week, so lowered expectations were built in.
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