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  • When The Fundamentals Change, Change The Position, Save Face, And Become A Stand-Up Position Opinion Maker. Well Done Goldman. We Commend You On The Gold Call Reversal. The Audience Was Watching. Well Done. 0 comments
    Apr 25, 2013 1:52 PM | about stocks: GLD, GS, JPM, C, MS, SPY

    When the fundamentals change, change the position, save face, and become a stand-up position opinion maker. Well done Goldman. We commend you on the Gold call reversal. The audience was watching. Well done.


    On April 23, "Goldman Sachs on Tuesday reversed its high-profile call to short gold, which it made two weeks ago, just before the metal sunk into bear ..." and this was following one of the worst down days for gold in some time.

    Who is to blame for all of this? Was it Goldman's heavy short gold recommendation. And the sell-off that followed, or was it the fact that some see Goldman as being able to see into the future?

    We see Goldman making a recommendation on Gold based off of fundamentals and a modest-recovering economy that gave doubt in the catastrophe situation, being Day X (when everything stops working).

    From making this brave call, and the result that happened, we were all able to see behind the curtain when gold went swaying.

    And when it did, Goldman recalculated, and they modified their recommendation. Because of this, they should be congratulated. Here was a firm that made a statement and wasn't afraid to change their reasoning.

    On the gold call we see a +1 for Goldman.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: GLD, GS, JPM, C, MS, SPY
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