We had our 25 bps cut today from the Fed and we did get our rally. I believe the party is over though. This week will be good and next week we will get a sh!tbomb dropped (something bad from the banks) on the Market which will take the Market back down. I'm short CFC (I predict CFC to be around $5 soon) now and long ACH (China is unstoppable). These are just my predictions...but onto your regularly scheduled program...
There are a lot of bad rumors floating around about Goldman Sachs (GS). These guys are the best when it comes to investing and you find alumni from their firm in almost every important position having to do with banking and the economy.
Well, the rumor is that they are going to be investigated by the SEC. They seemed to have made some very 'lucky' trades. While other firms were down with their earnings, GS was up nearly 90% in earnings. While this is not illegal, its fishy.
http://www.nypost.com/seven/10312007/business/sec_eyes_goldman_sachs_good_fo.htm
Also, a rumor is abound about GS releasing news that they are writing off a significant number of losses in the near future. (no link---just wait)If any of this is true. Goldman will take it like a rented mule...did I mention some of their senior staff just sold a few shares....
http://online.barrons.com/article/SB119377844588876701.html?mod=yahoobarrons&ru=yahoo
Again, these are rumors, but a few puts against Goldman ain't that much and could pay off HUGE. I expect each of you to mail me one fifty dollar bill (with a small face) if you make any money off this.
(at the time of this article, I own puts in Goldman Sachs)
-Rocketshoe
4 comments:
Wow, it came a lot earlier than I thought. Bad news from Citibank led this nosedive. -362 on the Dow!!!
-Rocketshoe
"These guys are the best"
Oh, I don't know about that...just the most arrogant.
Fair enough statement. Arrogant enough to break the law and think they can get away with it.
-Rocketshoe
Post a Comment