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The recent drawdown in the S&P 500 (SPY) is a minor one compared to historical norms, says...

The recent drawdown in the S&P 500 (SPY) is a minor one compared to historical norms, says Goldman in a research note today. While reiterating its view of a 1,750 closing level this year for the index, the team expects there could be another 3-5% down in this current move.
Comments (4)
  • Those thiefs should know. Expect a continued drop blamed on the FED but in reality just the game played.
    21 Jun 2013, 03:14 PM Reply Like
  • Goldman Sachs, total criminals.
    21 Jun 2013, 05:36 PM Reply Like
  • At 1615, they said market was fully valued. You sell, they buy.
    At 1650+, they gave their new target. You buy (back in), they sell.
    I suspect at 3-5% down from here, you'll be buying, they'll be selling.
    Etc., etc., etc....
    21 Jun 2013, 05:57 PM Reply Like
  • Tommy_Finger is right. Big/"Smart" money is selling into any rallies. First they set a target line. The retail investor buys into the target. They sell into the target (TO the retail investor!). That is how they get out of a position. They must do this over and over again to deplete their inventory, often for months. This IS the churning and "topping" phase of a market. This is the only way they can unload such large quantities of stock. If they were to do it suddenly, they could not squeeze out their gains...thus the "short term bear traps" rallies followed by more downside until fear over comes greed and the market falls "suddenly". By that time, Big money has already gotten out. Neat, huh?

     

    Therefore, expect a short rally up (possibly Monday, "buying climaxes"), then sideways to up consolidation, then another big drop, and so on. Unless you have the capacity to be nimble, you may not want to buy into these rallies as they may continue down for more correction.
    23 Jun 2013, 10:55 PM Reply Like
DJIA (DIA) S&P 500 (SPY)