So...GS

[mrmarket]

Is it done tanking? I say not yet.

GS sure makes a crap load of money.

[skiracer]

you're short C? a $5 stock, don't know about that one. I think if you want to short something short a GOOG or another leader that has been breaking down

that short on C held up all week in the potw this week for the gold. i bought the puts early monday a.m. and they're up +.03. the actual short trade is still down around down - .13 from my entry at todays close. between the govt selloff and the GS situation now escalating into what appears to be criminal charges being brought against Goldman Sachs by the FBI i think the financials are going to be weak overall. wait until all the individuals, hedge funds, institutional money starts to file the class action suits against every financial institution that advised them to buy and sold them these derivatives while going the other way comes into play. it is a open can of worms now and its going to be hard to put the lid back on the can.

[riverbabe]

A pretty good article on GS

Learned a lot about GS and ilk from this article today. Suddenly it all makes more sense. Hope you enjoy it too.

http://opinionator.blogs.nytimes.com/2010/04/29/goldman-still-greedy-no-longer-patient/?ref=opinion&nl=opinion&emc=tya1

[dmk112]

I think this is going to turn out to be a joke. If GS thought they were guilty, wouldn't they settle? I think if anything, this is a buying opportunity. The GS pigs will never get caught. What about Paulson? Isn't he the one that chose what to put into these crappy funds? This is an Obama fiasco to gain points before the election in November.

[dmk112]

look at the daily chart. there is a gap right at $3.50. thats where i thought it could fall to but with this recent news who knows. i've been watching the daily volume closely over the past couple of weeks and it just hasnt been high enough for them to unload the 7.7 bil shares they are holding. i think they still own them and i can only pray that they are still of the mindset to start unloading them this week. i think the govt is stupid and that the right hand doesnt know what the left hand is doing or wants to do. so are they stupid and was it a stupid thing to open this can of worms just before they want to get rid of their shares, i would say yes! i just finished reading several articles on the google finance page and now the british and german govts are pissed off and are going to be starting their own investigations into the matter and starting their own suits.

you're short C? a $5 stock, don't know about that one. I think if you want to short something short a GOOG or another leader that has been breaking down

[skiracer]

look at the daily chart. there is a gap right at $3.50. thats where i thought it could fall to but with this recent news who knows. i've been watching the daily volume closely over the past couple of weeks and it just hasnt been high enough for them to unload the 7.7 bil shares they are holding. i think they still own them and i can only pray that they are still of the mindset to start unloading them this week. i think the govt is stupid and that the right hand doesnt know what the left hand is doing or wants to do. so are they stupid and was it a stupid thing to open this can of worms just before they want to get rid of their shares, i would say yes! i just finished reading several articles on the google finance page and now the british and german govts are pissed off and are going to be starting their own investigations into the matter and starting their own suits.

[yoyomama]

Interesting theories y'all. Them bastids!

[wooish]

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

Yo

I think I've voiced this in Ski's thread when he started to short C. IMO I think they rigged the C pps up so that our government can unload their shares. I wouldn't be surprised that our government had finished unloading their shares prior to Friday's GS announcement. So the gov't unloading shares that we've all been waiting has already been done.

I could be wrong but I've already bought some C May $4 puts last Friday when market started to tank. Either way I wouldn't be surprise if C fills the gap right around $3.5 and that's when I will back up my truck and fill it up.

[skiracer]

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

that was the first thing that came to my mind yo. they own 7.7 billion shares of C and they start this lawsuit now a day or two away from C reporting earnings and when they are supposed to start unloading their shares. that in itself almost smells fishy. i wonder if the govt is shorting C and the rest of them. i wouldnt put anything past any of them. they are all thieves.

[skiracer]

Yep,
They should do anything to keep the GS name out of the news.

---------billy

I dont think it is going to be anywhere near that easy. since the can of worms has already been opened and the stench is out in the air the class action suits are now going to pile up mucho pronto. the best part about it is that Paulsen is right in the middle of it. this is going to be interesting to see if the govt does the right thing with these crooks or if they let them off with a slap on the wrist. they knew exactly what they were doing and then they took the bailout money on top of it all after propogating the whole thing.

[yoyomama]

yes yo i am still short C from $4.24. you just might be in early there yo. maybe waiting might have gotten you a cheaper entry. i didnt know about this suit that the govt brought against GS but from what i have been reading it might just be the tip of the iceberg on alot of shady dealings. all the high priced lawyers will be lining up to place class action lawsuits against the the big banks like GS, BAC, C, JPMorgan which could make the hedge funds and institutional money shy away for quite some time. i think exhibiting patience with the financials might be the best MO right now.

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

[billyjoe]

If they settle and pay a fine, the penalty would be miniscule compared to the loss in market cap if they don't.

Yep,
They should do anything to keep the GS name out of the news.

---------billy

[skiracer]

I know why you want C shorted. You're still short aintcha? Kiddin.

I actually just bought some C Jan 11 $4 leaps for an earnings gamble. I figure if they miss or the market's been doing what it's been doing(doesn't care if it beats it) I've got a few months for C to recover...or not.

yes yo i am still short C from $4.24. you just might be in early there yo. maybe waiting might have gotten you a cheaper entry. i didnt know about this suit that the govt brought against GS but from what i have been reading it might just be the tip of the iceberg on alot of shady dealings. all the high priced lawyers will be lining up to place class action lawsuits against the the big banks like GS, BAC, C, JPMorgan which could make the hedge funds and institutional money shy away for quite some time. i think exhibiting patience with the financials might be the best MO right now except for being or going short with them. in light of what has just come to light over the last few days would you or anyone be considering going long on any of those big banks this coming week.

[mrmarket]

If they settle and pay a fine, the penalty would be miniscule compared to the loss in market cap if they don't.

[yoyomama]

i think your best shot at a short play in the financials are BAC and C, especially C

I know why you want C shorted. You're still short aintcha? Kiddin.

I actually just bought some C Jan 11 $4 leaps for an earnings gamble. I figure if they miss or the market's been doing what it's been doing(doesn't care if it beats it) I've got a few months for C to recover...or not.