iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,782 Blog Posts

The Cup, The Handle, The Cliff, The Sach(s)

Earlier this week I tweeted something that, like most everything said on twitter, should have been consumed, and since not immediately actionable, forgotten like a good ADD-riddled twitter user:

I have 15% exposure to Goldman and will ratchet exposure up to 20% if they show strength early next week. My reasoning behind the position is three fold.

Reason 1: First and foremost Goldman “fuck off and pay me a bonus” Sachs rules the world. Yea yea, they do. Don’t succumb to the vanity of politicians or religious leaders. They’re puppets put in place by the blobby bastards at Goldman, whose slacks bear blood and shit stains from years of rape and pillage. Who doesn’t want these corporate hit men on their team?

Reason 2: A simple portfolio allocation decision, I want some finance exposure. Financial institutions are the dog of the public eye, and their share prices were on the receiving end of a bludgeoning in the market for years. It’s an important piece of the allocation pie, in my opinion.

Reason 3: The weekly chart. To my eye, there is potential for a huge cup-and-handle formation. It could be too obvious, but should we see the $125.00 neckline revisited, bears will have to prove valiance big time to avoid a huge breakout. Note: This is my most important reason, I was jerking your tail calling reason one chief. BEHOLD:

And may we have many more full moons of excellent trading action, have a great weekend

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One comment

  1. Rhino

    Blankfein slaps hoes with impunity.

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