The only game in town

[pscot]

http://www.zerohedge.com/article/another-goldman-sachs-pigmen-shakeout

Mark the last 3 days down. Yet another classic. Goldman lowballs the GDP and panicked deflationists sell anything and everything "risk" related and pile into dollars and Treasuries. Then the "inflated" GDP is released, and suddenly risk assets of every race, gender, stripe, color, and ethnic origin are once again embraced.

Just picture the GS Prop Traders like wild boars on the NYSE trading floor running over everybody, thrashing about, deliberately creating chaos, devouring its biggest clients.

Its all part of the "Wash, Rinse, Repeat" cycle of ever decreasing interest rates used to finance our ongoing deficits during heavy weeks on the auction cycle. Then when new bonds are floated off without a hitch, its back to chasing stocks, junk bonds, commodities, crack-addled hookers, and booze.

Of course, Goldman makes at least $100 million per day on these turn days, so $300 million for 3 days will be more than enough to add to the bonus pile to be doled out at year end.

Looks like on virtually every index, the 50-day was cracked and retaken in a span of 24 hours...

"Quick!! Sell !! Run!! Hide!!

(more)

[paulsby]

1. as mentioned, i covered 1/2 of my short

yesterday for a nice profit. today was a CLASSIC oversold bounce triggered by news.

great breadth (advance/decline) but relatively mediocre volume.

imo, today's close is a great way to get some short exposure at reasonable prices.