In the November 2009 issue of Elliott Wave International’s monthly Elliott Wave Financial Forecast, co-editors Steven Hochberg and Peter Kendall published a careful study of Goldman Sachs company history — and made a sobering forecast for the firm’s future: “Goldman ...

Tim Iacono Today’s news from two of the PIGS (i.e., Portugal, Ireland, Greece, Spain) is not good as credit spreads are widening rapidly in Portugal (with downgrades likely to follow) and the odds of Greece making it through to the conclusion of the joint EU/IMF talks in two weeks without a bailout grow slimmer by the hour, at least according...

High Chart Patterns It seems that the era of the “easy tape” is over for now and we’re back to a stock-pickers market. This means that traders will actually have to do some homework and work at it a bit more to be able to make the income. We had two shorts, one long support, and one long break-out trigger today from the newsletter...

Courtesy of Mish It will not be long before Greece is accepting aid from the IMF as credit default swaps on Greek debt surged to record levels, pushing up Greek borrowing costs. Please consider a pair of Bloomberg articles highlighting the problems. Spillover Hits Portugal and Spain, Loonie Rises Euro Drops for Fifth Day on Concern Greece Talks...

Courtesy of The Pragmatic Capitalist Retail stocks continue to hit new 52 week highs just about every day.  As we noted last week, the discrepancy between the retail stocks and reality appears to be growing with every uptick.  Citi recently issued a note expressing the same belief: “The S&P 500 Consumer Discretionary sector’s Retailing...

Karl Denninger says: Darrell Issa just said on CNBC that there is a likely indictment coming (no, really?  Gee, there’s a cop?)

The online auction site is looking for a profit between 27 cents and 29 cents a share and revenue between $2.15 billion and $2.2 billion. This is significantly below analysts’ estimates of 40 cents on revenue of $2.21 billion. During the first quarter, eBay earned $397.7 million, or 30 cents a share, an 11% increase from $357.1 million, or...

It would seem that investors and traders cannot get enough of this stock. Yesterday it came as no surprise that Apple announced huge earnings, over three billion dollars, just about the same as Goldman Sachs. Now who could have predicted that just a few years ago? So is this the beginning or the end Apple’s record earnings? Click The Chart below...

By Jordan Roy-Byrne, CMT In recent commentaries, we’ve focused on the macro factors that will drive acceleration in the precious metals sector. Namely, the gradual exodus from both government and corporate bonds as authorities are forced to monetize debts in an effort to avoid rising interest rates, which would hasten default and bankruptcy. This,...

Courtesy of The Pragmatic Capitalist I always marvel at the quarterly earnings at Apple Corporation. Not necessarily because of the impressive fundamentals, but because of the game being played.  Corporate earnings are a game. The best managements know how the game works and they play the analysts for fools by consistently managing expectations....

Tim Iacono Let’s see, China’s got a small inflation problem and India’s got a huge one with prices now rising at an annual rate of 10 percent per this report at the BBC. This story in the Telegraph details the latest inflation data from the British Isles where the trend is definitely up. The Consumer Price Index climbed 0.6pc in the month...

ClusterStock Confused about this Goldman Sachs (GS) Abacus deal you’ve been hearing about? Don’t be. It’s really pretty simple.

Tyler Durden The (in)famous Greg Lippmann is gone. The question is why? Is Deustche Bank about to report the next Wells receipt?Of course not: Goldman did not do so even though it held it for 9 months. From Bloomberg: April 20 (Bloomberg) — Deutsche Bank AG named Pius Sprenger as head of trading for asset-backed securities and collateralized...

From Nic Lenoir of ICAP Apologies for the lack of color for the past 24 hours. We pick up first with a quick update on equities following our call on Friday: Equity markets did rebound to test out the break-out level between 1,198 and 1,203. Tactical players or people interested in initiating short positions for the longer run but with a tight...

Business Insider In his latest note, Gluskin-Sheff’s David Rosenberg throws cold water (surprise) on yesterday’s strong leading indicators number: U.S. leading indicators jumped 1.4% MoM in March, tied for the second strongest in the past year.  Consensus was looking for +1.1%.  Seven of the ten sub-indices were up –so the breadth...