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Goldman Sachs Calls a Bottom?

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July 21, 2009 – Comments (3)

In case you missed it in Bloomberg yesterday, Goldman Sachs is quite bullish on the stock market for the second half of the year.  It sees the S&P 500 up to 1,060 by year end (11% higher than yesterday's close).  Of the 10 prognosticators Bloomberg tracks, Goldman trails only JPMorgan's 1,100 call (16% higher than yesterday's close).

What does that mean? Not much...most analysts are like lazy weathermen...when it's sunny, they predict sun...when it's rainy, they predict rain. Remember the predictions of $200 oil when oil was near $150?

Read more here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=alcaYpBt0PvY

-Anand (who's only willing to predict that the S&P 500 will have approximately 500 companies by the end of the year). 

 

3 Comments – Post Your Own

#1) On July 21, 2009 at 4:53 PM, starbucks4ever (97.60) wrote:

It's very simpe. It just means that GS is now after the shorts. They raided the longs' accounts on Mar 9, and now they will rob those fellow travellers who rode this bear market alongside with them. Then when the shorts lose their accounts and take to the street, it will be the longs' turn again. Eventually all traders will lose their shirts, and only LTBH'ers will do reasonably well.

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#2) On July 21, 2009 at 4:57 PM, outoffocus (22.81) wrote:

What does that mean? Not much...most analysts are like lazy weathermen...when it's sunny, they predict sun...when it's rainy, they predict rain. Remember the predictions of $200 oil when oil was near $150

I was going to say, if it weren't for the fact that GS is the market I'd say that prediction is the ultimate sell signal. Heck, GS is probably putting in their shorts as we speak. I'm still convinced to this day that the analysts were predicting $200 oil right as their company (GS and MS) were shorting oil.

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#3) On July 21, 2009 at 5:16 PM, nthought (< 20) wrote:

Actions speak louder than.  Who cares what they say, any idea what they are doing.  I agree with outoffocus, they may very well be shorting the entire market as we speak. 

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