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Flourishing filaments


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If you look at the crapple chart that I posted, many traders will think that the current overlapping 5-wave structure is an ending diagonal.

 

It could be, but I think that there is a higher chance that prices could pierce the upper parallel, back test it and explode toward the 600 mark or higher.

 

Looks like it is happening.... Maybe without the backtest, even...

 

Oh, by the way, the 2.618 extension of the previous high and low is right near 600

 

post-350-133173594699_thumb.png

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No comment yet on this op-ed from the GS resignee?

 

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. B) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Avoid Standing Near this Guy Near Sniper Lines of Site

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More:

 

It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.
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New York Times OP-ED on Goldman Sachs. Is this really happening?. NYT actually printed this!?.

 

OP-ED Why I Am Leaving Goldman Sachs

By GREG SMITH

Published: March 14, 2012

 

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

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Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

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What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. B ) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

 

Why I Am Leaving Goldman Sachs

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