Chris Vermeulen Last week was exciting with broad market and gold forming an intraday reversal pattern after a long overbought rally, then broke down though short term key support levels. While this move lower was tough on the pocket book for those who chased the market up the past few days and/or were not moving their protective stops up, this...

Mike “Mish” Shedlock Merrill Lynch now stands accused of the same fraudulent actions as Goldman Sachs. Please consider Merrill Used Same Alleged Fraud as Goldman, Bank Says Merrill Lynch & Co. engaged in the same investor fraud that the U.S. Securities and Exchange Commission accused Goldman Sachs Group Inc. of committing, according...

Courtesy of Mish For the second straight week, unemployment claims exceeded the forecast of every economist in a Bloomberg survey. Please consider Jobless Claims in U.S. Unexpectedly Rose Last Week The number of Americans filing claims for jobless benefits unexpectedly increased last week, indicating the improvement in the labor market will take...

Tyler Durden The Pandora’s box of the SEC’s action against Goldman, which if validated in court will effectively make the issuance of every hybrid CDO product quasi-illegal, will lead to an explosion of lawsuits against virtually any bank that was active in the structured finance space during the housing boom, adding to a fresh round...

Markets move in large wave swing patterns based on the stretches and swings of investor optimism to pessimism.  These are known as Elliott Wave Patterns as theorized by R.N. Elliott in the 1920’s and 1930’s.  I became a student of his work in 2001 amidst the market mess, and after a few years became a convert that markets move largely on crowd...

Karl Denninger Seriously. Cramer came on CNBS this afternoon saying that he “heard on good authority” that Goldman was actually long Abacus. (Note – this is not my capture, and there’s good odds that CNBC will have this video removed – so if you want to watch, do so soon!) Well, duh!  They structured the deal! Again,...

It’s been a great week for traders who have been watching gold and the indexed become more and more overbought on the intraday charts who waited to take advantage of the reversal which unfolded today. I have been talking about this move for several weeks just waiting for the market to reach the tipping point as this type of setup pays very well...

Tyler Durden From the open outcry pits: Goldman sold 1,000 big SP today over 1,200.00.  Was it just a hedge because they KNEW the SEC would do nail them to the cross?  Is that insider trading?  Who knows how many tens of thousands they sold in the ES?

The Market Ticker From the wire: The Goldman Sachs Group Inc SEC reportedly files fraud charges against company over structures of certain collateralized debt obligations related to subprime. claims center around omission and mistatement of certain facts tied to subprime mortgages Hattip rebeltraders Form the complaint: “The product was new...

Business Insider The SEC has filed civil charges against Goldman Sachs and its banker Fabrice Tourre for its role in structuring subprime mortgages, which it structured at the behest of hedge funders like John Paulson. Goldman shares are off 10%. At issue is the lack of disclosure of Paulson’s role in selecting the assets that went into the...

Gold Scents INTC beat earnings Wed and yesterday morning the market loved it. Cramer is wildly bullish. BUY, BUY, BUY! Unfortunately INTC has a history of marking turning points. Let’s just say that buying the gap up on earnings hasn’t been kind in the short term. Buying when INTC has closed at new 52 week highs the day they report has...

Courtesy of The Pragmatic Capitalist Sentiment data is surging this week.   The Investor’s Intelligence poll is showing a new high in bullishness and a new low in bearishness.  18.9% of advisers tracked in the polling are bearish on stocks.  Bullishness has now surged to 51.1%.   Bullish sentiment is surging versus last week’s reading...

T3Live C triggered on March 25th and also hit its target today. C is a stock that definitely could have more room to the upside in the longer-term. Market Club gives Citi a +100 score.  Get Your FREE Citi Analysis Here.

The Market Ticker I know, I know, the market only goes one way. So believe many people. Those numbers have never been seen before in my recollection – and as far as I can tell (by looking back at the stats), never by anyone else either.  In fact that opening print is more than double the previous all-time high. These are retail CALL buyers...