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Stepping Inside the Recent Goldman Sachs GS Price Breakout Trade

Similar to that of RIMM, Goldman Sachs (GS) stock broke a critical resistance level which set-up a great breakout trading opportunity for those poised to take advantage of it. Let’s learn the lesson from this breakout, discuss another example of the “Popped Stops” and “Open Air” concepts, and be ready to apply this lesson in the next stock where it happens.

From SEC Employee Rick Bookstaber "We All Know Gold Is In A Bubble"

Former Bridgewater-ite (which we hear is not doing that hot lately) Rick Bookstaber, who was recently appointed at the SEC in some risk management capacity , comes out with a truly amusing rant on why gold is in a bubble, and, not just that, but that " we all know gold is in a bubble. " Ignore the fact that all multi-billionaire hedge fund managers have been loading up, all relevant and semi-relevant pundits have been claiming that gold is gradually becoming the one alternative to fiat debasement which has recently become a global phenomenon, and ignore that even with the dollar going up, gold has defended its 1,100 an ounce price quite successfully.

Wall Street Has Become Underwrita Non Grata In Europe

First China comes through on its threat of disposing US securities, now Europe is rapidly isolating Wall Street from participating in European sovereign bond offerings. The Guardian reports that "for the first time in five years, no big US investment bank appears among the top nine sovereign bond bookrunners in Europe, according to Dealogic data compiled for the Guardian." Curiously, just the one bank which has recently found itself out of favor with domestic investors, Morgan Stanley, has a notable presence in Euro sovereign league tables (at number 10). The biggest loser - the dynamic duo of vampire squid and Fed Jr.

GATA Claims To Have Evidence Of "Massive Physical Short Gold And Silver Positions That Can Not Be Covered"

In a letter to the CFTC's Chairman, Gary Gensler , GATA Chairman William Murphy shares the following bombshell: " GATA has evidence that there are enormous physical short positions in the gold and silver markets that cannot be covered. " Even as the CFTC is meeting later this month to establish position limits in the gold, silver, and other precious metals' markets, it could be none other than the CFTC's core banks, and Mr.

The Worst Of The Worst: A Melt-Up Market Special

Now that the market is fully back to its usual melt-up gimmicks, when fundamentals do not matter in the least, and the only potential stock drivers are technicals, which for the market dominating algos typically reduce to such simplistic signals as stock price momentum (and reversion) and short interest as a % of share float, we present our summary of the worst of the worst. The following 40 companies are those names (among the Russell 2000) that have underperformed the market either by a little or a lot, now that the S&P is flat for the year, and which still carry a substantial short interest as a % of the total float (with a 20% of float short minimum)

Elizabeth Warren Discusses The Global "Enron": From Wall Street To Greece And Back

The appearance of the Chair of the Congressional Oversight Panel, Elizabeth Warren, on Charlie Rose is a must watch. In addition to an in depth discussion of the the consumer protection agency, which despite all valiant attempts to the contrary, will likely end up under the Fed's jurisdiction, thereby making the world's most powerful cabal even more powerful, Warren touches on a variety of other issues, including the sovereign debt situation, commercial real estate, and the one concept at the heart of it all: the lack of impairments by stockholders (and certainly by debtholders) in what was a bankrupt financial industry. The world would not have ended had banks been forced to readjust their balance sheets: the outcome would have been far simpler - all those who had their collective net wealth associated with the balance sheets, and specifically the equity tranche, of firms like Goldman, JPM, Citi, BofA and Wells would have been wiped out.

A Religiously Monetary Parable For "Efficient" Market Sanity

Compliments of reader Chindit13 , we present to you this religiously monetary parable on how to keep your sanity under the modern verion of "efficient" markets.

The Primary Source Of January’s Surprising Boost To Consumer Credit? Why, The US Government Of Course

Today, the market spiked in the last hour of trading after it was announced that total consumer credit increased for the first time in a year (not all credit, mind you, just car loans; consumers are still eagerly paying down their credit cards). And who was the source for this generosity you may ask

As Extended And Emergency Unemployment Benefits Finally Begin Expiring, A Much Different Employment Picture Emerges

The following very interesting analysis from Goldman focuses on an issue long-discussed on Zero Hedge and elsewhere, namely what happens when those millions in unemployed currently collecting unemployment insurance, finally start to roll off extended and emergency benefits, as terminal benefit exhaustion sets in, even with ongoing governmental unemployment stimulus programs. Goldman's estimate: approximately 400,000 people will no longer have the backdrop of so-called

Frontrunning: March 5

Fannie, Freddie may ask banks to eat $21 billion of sour loans ( Bloomberg ) Tresuries tumble after snow posturing ends up being great strawman ( Bloomberg ) No snow issues here - striking greek workers shut down transport, try to storm parliament ( Bloomberg ) French debt coming under investor scrutiny ( Reuters ) Singapore's GIC becomes UBS' biggest shareholder ( Bloomberg ) Market forecast- confusing ( Barron's ) How much does the national debt matter? ( Forbes ) Democracy under attack