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pahunkboy -> Goldman's Attempt To Ambush Dollar Aborted, Tactical Shorts Closed As Stop Losses Hit (12/24/2009 6:42:15 PM)
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A note to traders indicates that while Goldman has not lost the war of intergalactic domination, it too, can lose the occasional battles: Last Friday we were stopped out of two tactical trades, long EUR/$ for a potential loss of 1.8% and long GBP/$ for a potential loss of 1.1%.
Timing was clearly not optimal, and we were too early in fading the recent improvements in US data and the impact of Greek budget tensions. The technical break of important moving averages may have amplified the Dollar rally.
However, we continue to believe that the risks to both crosses remain skewed to the upside. In particular the balance of payment situation remains very Dollar negative. We also remain focused on very stretched speculative short EUR/$ and Cable positions and the related unwinding risks. We would therefore continue to look for opportunities to position tactically for Dollar weakness/snip
http://www.roguegovernment.com/Goldman%27s_Attempt_To_Ambush_Dollar_Aborted%2C_Tactical_Shorts_Closed_As_Stop_Losses_Hit/18650/0/8/8/Y/M.html
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