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Friday, April 16, 2010

When the facts change, you need to change

I'm sorry, but this news on Goldman will have repercussions,and in my opinion, will be bigger than what the street is currently thinking.

Wall Street can't stand anxiety, and they can't stand investigations, and most everyone on the street, has been getting away with it since March 9 of 2009, since the Government gave them the green light.

I think this is a material event, and on material news, when you don't know the outcome, you sell.

Where is your margin of safety?

It's gone.

Don't let them take your profits either!

10 comments :

Anonymous said...

Sell all stocks and stock funds? High yield Bond funds too?

Palmoni said...

It's a correction call, not the end of the bull market.

But what this means, is we will see how stong the holders of stock are.

I just don't think the holders have much conviction.

So I'm letting it play out

Anonymous said...

will you sell MGM and APWR now?

Anonymous said...

Are you buying puts on banks and financial?

whydibuy said...

I have to agree on this one.

This market has really been supported by the big institutions like GS.
Mutual funds have actually seen a constant outflow.

So the loss of the leveraged investment house money may hit harder than people think. Like it did in the fall of 08. That was the withdrawal of leveraged money.

I don't think we'll see anything that wild but after the gov gets done with GS and so others, it'll be open season with damage lawsuits.

And that means leveraged capital being withdrawn from equities.

Anonymous said...

Oh my! Goldman committed fraud.
Oh my! The stock market is down.
Oh my! Palmoni is selling.
Oh my! Oh my! Oh my!

Anonymous said...

All the wise men bought MPG on this dip. hehehe

Palmoni said...

Oh My! is right. But I just assumed that the tentacles would get deeper than first realized. GS on Abacus, bought protection form AIG, so the idea espoused by Jinm Cramer that Goldman was an investor alongside their institutional clients that got screwed is just patently false. When they overhedged their exposure!

Here's the Abacus flipbook that Goldman will soon DMCA to take down

http://www.scribd.com/doc/30036962/Abacus-2007-Ac1-Flipbook-20070226

And when they find the taxpayer helped Goldman with its hedge? Well maybe they'll find other dirt.

Anonymous said...

Last time right after GS reported earnings Obama gives some stupid speech about no mo propriety trading --BOO everybody scarred---well, the market went down...for awhile --the end of January was a great buying opportunit--same here--now the government comes out right before GS is to report earnings and says GS 'misstated and ommited key facts' to investors--well, BOO! --sell all your stocks--I'd love to buy some BAC at 17 and Intel at 21-

Anonymous said...

Government going after Goldman? We all know that GS is part of the illuminati, and you can't stop the illuminati-

CNBC Guest: Illuminati Behind Stock Market Crash www.youtube.com/watch?v=ZvLci3ayW44

As i heard someone say today--Barney Frank is gonna kick Mike Tyson's ass

I don't think so

now everyone have a great weekend and go rent Eyes Wide Shut