I commented yesterday on Goldman's timing. Anyone who has been
around knows how the game is played. This would have certainly been
more helpful for their clients when the market was at 4,500 and
more recently 4,300s on that rally into the major averages. I
posted my long term holdings adjustments (sells) here at that
time.
The big clue for my strategy to being skeptical that the bottom
wasn't in amidst the backdrop was the all the gaps from June. Gaps
have saved me so much over the years. Its never different, just the
way the business works. All the tv and other stuff is to get people
emotional in thinking they missed out. Now we see here it being
played the other way, working to get people to sell so it can be
bought up and then distributed yet again down the line. The algos
and pros run the show. It isn't really as complicated as it is made
to seem.
I've learned over the years to just play by their rules and take
what they give. Risk/reward is getting much better as markets look
to capitulate. Will be interesting to see if SPX 3,674 gap
immediately fills or if there needs to be more grinding beforehand
with a trading rally. I added the other half of my SPX position
this morning near premarket lows. All the best in whatever strategy
you are using today. I'll be checking back near the close. Have a
great weekend!
Goldman Lowers SPX Target From 4300 to 3600
Posted by fundamentalvalues on 23rd of Sep 2022 at 08:40 am
Goldman Sachs cuts 2022 target for S&P 500 by 16%
https://finance.yahoo.com/news/goldman-sachs-cuts-2022-target-091339381.html
I commented yesterday on Goldman's timing. Anyone who has been around knows how the game is played. This would have certainly been more helpful for their clients when the market was at 4,500 and more recently 4,300s on that rally into the major averages. I posted my long term holdings adjustments (sells) here at that time.
The big clue for my strategy to being skeptical that the bottom wasn't in amidst the backdrop was the all the gaps from June. Gaps have saved me so much over the years. Its never different, just the way the business works. All the tv and other stuff is to get people emotional in thinking they missed out. Now we see here it being played the other way, working to get people to sell so it can be bought up and then distributed yet again down the line. The algos and pros run the show. It isn't really as complicated as it is made to seem.
I've learned over the years to just play by their rules and take what they give. Risk/reward is getting much better as markets look to capitulate. Will be interesting to see if SPX 3,674 gap immediately fills or if there needs to be more grinding beforehand with a trading rally. I added the other half of my SPX position this morning near premarket lows. All the best in whatever strategy you are using today. I'll be checking back near the close. Have a great weekend!
finance.yahoo.com
Goldman Sachs cuts 2022 target for S&P 500 by 16%
Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. "Based on our client discussions, a majority of equity investors have adopted the view that a hard landing scenario is inevitable and their focus is on the timing, magnitude and duration of a potential recession and investment strategies for that outlook," wrote Goldman analyst David Kostin. The Fed indicated on Wednesday global policymakers would "keep at" their battle to beat down inflation, and hiked U.S. interest rates by 75 basis points for a third consecutive time and signaled borrowing costs would keep rising this year.
Took em long enough.
Posted by brophy on 23rd of Sep 2022 at 09:38 am
Took em long enough.
Thanks ! 3670 looks like
Posted by fredsaid on 23rd of Sep 2022 at 09:35 am
Thanks ! 3670 looks like good number.... I hope we see it today.