Tag Archives: Goldman Sachs Group, Inc.

Time Out… “Pouce!”

Watching this soap opera, day-in and day-out while trying to make sense of possible interconnections is so obviously an exercise in futility. Though, it’s in equal measure addictive.

image stick out tongue Pictures, Images and Photos

Even before the market has opened today, I’ve stumbled on TO MANY confusing major themes:

  • A 2 Billion Dollar loss at UBS by a Rogue Trader (they’re always rogue). You can’t help but like his name “Kweku Adoboli“. Hints of more to come, key music.
  • Euro Strength on Political Posturing across Spain, France and Germany.
  • Gold weakness on who knows what (boredom perhaps or dollar strength?)
  • HFT explanations, excuses, and doublespeak.
  • A US Economic data barrage thats as bad as last month.
  • An explosion in the $EURUSD to 1.39 on ECB intervention.
  • BNP up 18%? Note to self: buy $GS today…
  • And maybe the funniest: Europe is in trouble because of Socialism (And the US because?)

Gold Vacation

Taking a little break for the next few days. Watching Gold from a distance.

Still managed to buy Sept. 115/100 put spreads on $GS after the pop this morning. I took it off the table at the close for about + 15%. Didn’t want to hold that type of spread overnight… The $VIX hit 40 and Friday should be an intersting one!

Good trading.

Greece, Goldman and Google

This is probably the best article I’ve read about Greece recently. It calls into doubt the privatisation plan. Here’s another from France24 which has a decent human perspective.  The vote should be happening in about 2 hours and the European markets are up over 1%. My guess is that this will be a sell the news event. If you’re interested in the austerity details this is a good link.

We should have the result before the European markets close and at the opening of US markets. I think we’ll see some strong pull-back almost immediately after the vote.

“…there will still be a risk of lawmakers rejecting detailed austerity bills in votes on Thursday on the implementation of different elements of the plan, such as tax rises and the sale of state assets.”

If that pull-back doesn’t happen today, we’ll see it happen before going into the weekend. I’m cautious today, maybe too cautious.

I’m concentrating on $GS and $GOOG today. Both of these charts show strong decending channels.

Goldman on increasing volume.

There’s also some chatter about transitioning to consumer staples, I think this is also worth some study.

Goldman Sachs Put Backspread

This is a trade I’ve been working on since $GS was at about 150. I think it’s still relevant today.

Selling 2 July 140 Puts
Buying 4 130 Puts.

Judging from the downward trend we have some good momentum and given some unforeseen good news and a strong pop to the upside we’re relatively well protected.