Goldman Sachs, the KING of the pump-n-dump, is out this morning with a price target for the S&P 500 for the end of the year up 15% from here.
Goldman has the power to move markets, and that's why I call them the Anitchrist. They move them for THEIR benefit, not yours. It was the Antichrist that pushed Oil from $130 to $147 last year - and then they went short. Great call, or excellent control... I guess its all in the eye of the beholder.
Is there 15% potential upside in the short term? Sure... and 30% downside risk. If you are an excellent trader, by all means, have at it. If you are a retired person trying to survive this market, take your football and go home. The AC runs the table and rules the roost - careful out there.
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The US$ is getting crushed... it MUST turn here - OR ELSE.
I am betting that it turns here, but if I am wrong...
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Oil is too rich for my blood (or money).
3 comments:
Let's not exaggerate here. :) The U.S. dollar/Euro range has been less than four cents in the last few weeks ($1.4234 today versus $1.39 for a while). One Euro hasn't hit $1.60 in a year.
I would also agree that Sachs is dreaming if they think an economy such as ours can move forward with sooooo many factors holding it back, not the least of which is burned and scared baby boomers on the cusp of their twilight years. Just too much debt still left to be unwound.
The economy is wrought with positive feedback. The Fed has doubled the base money. That means that there can be as much total money at 15:1 leverage as there used to be at 30:1.
There is great potential for a smoking hot climb out of this recession. If things look up, and some of that money starts coming out of the banks, look out. The burnt boomers haven't been burnt for so long that they have lost hope for a recovery. They'll dance and sing. Of course, this will be tempered when oil spikes again. The problem will be judging the top. The decline may be just as rapid.
Regards,
Coal Guy
thanks for sharing.......
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Sharon
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