Goldman Stolpers Clients Again As EURUSD Breaches 1.3500, Squid Stopped Out On Friday
Well, it didn't take one day... It took a whopping two days for our always contrarian call to do the opposite of what Goldman said on Friday, to materialize. As we said on Friday afternoon, "Time to sell the EURUSD with both hands and feet, not to mention with MF Global-type leverage: that uber-contrarian FX indicator, Goldman's Thomas Stolper, who has not had a notable call correct in the past 2 years, just came out with a long EURUSD call, calling for a 1.40 target and a 1.35 stop loss. Yes, this means Goldman is now selling EURUSD until 1.40 and will begin buying it at 1.35." 48 hours later Goldman's clients lose big, Goldman's flow desk wins, and anyone who agreed with our traditional cynicism made several thousand pips assuming the proper use of MF type leverage.
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