Bloomberg story on Goldmans
#goldmansachs hashtag#dxy and why their stop was rubbish I nearly missed this and it's old news (9th March) but Bloomers out with an interesting story on Goldmans. I quote, "The firm’s recent recommendation to short the U.S. Dollar Index (DXY) hit its stop -- the level at which a trade is halted so losses don’t become too great -- at 97.50 on Thursday, in the aftermath of the European Central Bank meeting. That’s a potential loss of 1.4 percent, Goldman strategists led by Zach Pandl wrote in a note late Friday." 97.70 was a very good level on the DAILY 98.00 a formidable level on the WEEKLY - AND the 200WMA Current price is 96.99 Why would you put your stop below two massive levels ? If you put them above you'd be nicely in court. Can someone tell the chartists at Goldman's to get their sh*t together ? This is basic stuff.