Goldman tech outlook – the making of a low

TheGoldman charts nears a severe trough as we have already the weekly 13 and the daily counts are about 3 lower closes away. we are climbing down along the trendline support and below 50 we should find a floor for this year. The 140 down to 50 magnitude of 90 gives a 35 upside at least and prices arouınd 80 are evaluating Goldman richly. Mr. Buffetts options on Goldman around 120 should prove to be worthless for the time being. Stange is almost the weekly adjustment they do on their economic outlook as they have revised it down again this week with 9% jobless and the current quarter down to – 5% from 3.5%. That is not a prudent way for a broker to deal with statistics but I have the feeling they try to hamper sentiment in the markets as they will very likely have according positions. We all will be glşad as Paulson and his Goldman stuff at the Treasury gets fired soon but as Rubin (also ex CEO Goldman) is a close advişor of Obama they will in many ways be on the sunny side of the information flow.

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~ by behindthematrix on November 21, 2008.

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