Shiv Kapoor

Financials Downgraded - Fast Money Recap (8/15/08)

"The problem Goldman ran into is oil, explains Pete Najarian.". Goldman called potential for a spike - up sharply & then back down. It did happen though not with quiet the vigor they forecast. The past few months their conviction lists have been cautious with tight stop losses. I doubt they will be badly burnt on an oil call. Besides, oil should decline a bit further (no more than $98 probably closer to $105) before the shorts cover and cause a rally back to $120/$125 range.