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Friday, March 6, 2009

Goldman Sachs: Breakdown?

Goldman Sachs (GS) finally losing that key level of $80. Failure to regain that area by the close will result in a break DOWN and OUT!


12 comments:

Anonymous said...

GOOG also looking precarious
Agreed with Bear fatigue, think we rally from here temporarily. Elliott wave apparently also concurs, although not sure if that's the best of signs. Treasury still doesn't want to buy USTs though the UK started QE on gilts and corp paper...
Tks, JL

Anonymous said...

this crisis simply can't end without the bankruptcies of China and Goldman Sachs. it is to great an opportunity to miss

Anonymous said...

Goldman Sachs? Just forget it. Try something new, for instance: HSBC

The Hong Kong Chinese love it.

Anonymous said...

Maybe you missed the part where Goldman Sachs gets billions from the government via AIG. No change GS will go down as long at Obama follows Paulsen's great plan to support his old employer

Anonymous said...

ninja, how many trades are you comfortable managing at any given time? the material presented in the blog is ever-so diverse, i can't imagine you act on all your ideas, do you?

Anonymous said...

Well, I acted on Ninja's GS "This Pig too will fall." Went short over 97.
Ninja's timing absolutely perfect !
We know AIG is supporting GS's derivative book with taxpayer bailouts. So what ? Look at AIG's share price.
Trillions are involved here.
I think JPM ia a much bigger disaster than GS. Their derivative book is about $90 T. Put that size next to all the bailout of Fannie, Freddie and all the alphabet soups put together. It is a monster !
We are looking at a systemic failure of the whole financial system with the fiat currencies all blowing up !
The only thing that worries me is if I will ever actually get to enjoy my trading account. That is why I disagree with Ninja over Gold. You need the yellow shiny stuff in your possession right now ! It doesn't matter what the POG is ! The stuff is hard to get and the premiums make the real stuff well above $1000 ! It is hard to get now. Later it will be too late if you haven't already got it !
Recently the ECB and captive CBS sold over 230 tons. That is why the price fell fromm the technical area of $1000. Then the specs pile in. Those tons are gone now. How much damage was caused ? Sweet FA ! The POG is heading North again.
Josh

Anonymous said...

Josh -- I am starting to agree with you re: gold, and whether or not we will be able to enjoy the gains (courtesy of the Ninja in large part) in our trading accounts. I think that gold would have to drop to about $650 in order for the spot price of physical to really come down enough to make me regret buying some physical now. I havent bought any yet, but my father has, and when he ordered from Blanchard it took 10 weeks for his relatively small order of coins to arrive. After about week 6 I was seriously doubting whether or not the order would get filled.

Anonymous said...

After posting my comment above, I noticed Alice Cooks blog (again courtesy of Ninja). http://ukhousebubble.blogspot.com/2009/03/aig-saviour-of-european-banks.html.
I had no idea AIG had insured the derivative books of European Banks as well !
That could definitely be the nail in Goldman coffin !
Josh

Ben Bittrolff said...

@ Anonymous.

"ninja, how many trades are you comfortable managing at any given time? the material presented in the blog is ever-so diverse, i can't imagine you act on all your ideas, do you?"

I act on everything I post, BUT I act on far more than I post.

I'm working on a "Ninja Cam" where I record my trading screens live... Comming soon enough. Patience.

Robert E. said...

How do you spell TOAST?

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