Well, well, well. Our dear, pure, honest friends on Broad Street are finally seeing a sliver of the light of justice in their snake pit. It couldn't happen to a nicer bunch of guys. Plus Lloyd's quite a mensch, doing God's work and all.
I personally have always believed Goldman Sachs was the most corrupt enterprise in the United States. There are many other crimes, I suspect, that will be revealed during what is sure to be a kick-ass discovery process. I only hope this little dagger begins an entire series of assaults upon the organization which eventually drive it to ruin and bankruptcy. I would also like to see Blankfein and his co-conspirators put to death for treason against the United States. They are an evil, crooked bunch.
I have tried to enjoy my week "off" here in Paris, but I've been charting, as always, and amplified my short positions radically on Thursday, particularly with the SPY. I have been blogging with one and a half arms tied behind my back this week, since I'm in very unfamiliar territory with very unfamiliar computers, but the resistance levels I was seeing in major ETFs had me weeping tears of joy at the very sight of them. I was entering position sizes on the SPY much larger than I've ever done in the past.
Today I reduced my SPY position by about 60%, but I've amped up some other positions. I got rid of all but three of my long yesterday, and those final three got closed out earlier, so I am totally short right now. I have thirty positions, a few of them quite substantial.
My flight is slated to return on Sunday, but with the volcanic activity, I'm not sure if I'll be "stuck" in this magical city or not. (I never thought I'd have to mention volcanic activity in my travel plans). I will say that, no matter what, this news about Goldman fills my heart with joy and hope that perhaps the world has a small bit of justice in it. Thank you, SEC!
