The drama continues at 85 Broad St down in the canyons off Wall Street. The SEC was a walk in the park for the boys at Goldman, and on the day of testimony, the stock, acted as defiantly as the stuffed shirts from Wharton last week. The SEC borders on irrelevant these days, but the Southern District of NY (the big boys) is another story, and right now they feel like looking up Blankfein’s skirt, and that’s not good. Why? Because there is always an ADA in the Southern District that wants to be Guiliani. If given some rope by his bosses, said ADA will attack Goldman like a starving pit bull on epinephrine.The suits won’t condescend and be evasive with these guys as they were with potty mouthed Levin and company last week. The Eastern District recently lost a case against some rogue hedgies at Bear Stearns, so they may want to save face on this one. My takeaway? The Feds will make noise, but will not win. I mentioned that the $148 level was support and it is now broken. Too toxic for me in here. If I’m wrong and miss it? No remorse. Not my favorite short anyway. Stay tuned.
April results for my Premium Site are in, and we posted triple digits.. We saw +60% in March and 12% in February. Money is being made on the site and in my Chatroom on a daily basis, so join us for the month of May and stop by.
First, in the GTF outta here department:
Shakira is opining on civil rights. Stick to belly dancing.
Iran is on the new UN commission on woman’s rights
Tiger 4 putts his way to missed cut.
Have a great weekend and enjoy the links.
How Steve Cohen averaged 30% returns for 18 years.
Obama cheating scandal.
Even the Russian Oligarchs hate taxes.
Roubini on Europe.
What exactly does a drill ban mean?
ETF update-VXX soars
DOW support test on deck.
How Pacino became Kevorkian
Stephen Hawking and his aliens.
The Temptation of Tiger.
