Monday, March 8, 2010
Goldman gets bullish on steel again--now?
On January 6 Goldman upped X, and you can read that upgrade here.
On January 22, they downgraded X to a buy.
On January 27, Goldman then downgraded X to neutral, cutting the target to 55, saying there wasn't any near term catalysts to move X.
Notice how Goldman downgraded X, when Goldman as a firm was buying and goosing the credit default swaps on Greece. Knock the material stocks down, and then, people will believe the world economy will go to hell!
So what do they need to do? You can't pick on Greece. Or maybe they need to offload the paper they bought when they downgraded it!
Hah! You gotta love Goldman playing both sides and knocking their clients silly!
Can you imagine what would happen if Goldman was the Cap-Ex manager for X???
gs main 0308
Posted by Palmoni at 12:09 PM