# Is Goldman Sachs manipulating the stock market?



## Uncle Festivus (14 April 2009)

For all things Goldman Sachs - conspiracy theories, collusion, corruption market manipulation or any other alleged deeds.

To start with, this site has been issued a cease-and-desist letter that he    may face legal action if he does not close down his website critical of GS.

http://www.goldmansachs666.com/



> Goldman Sachs is attempting to shut down a dissident blogger who is extremely    critical of the investment bank, its board members and its practices.



http://www.telegraph.co.uk/finance/...chs-hires-law-firm-to-shut-bloggers-site.html

How they use quants to massage the market higher?

http://zerohedge.blogspot.com/2009/04/incredibly-shrinking-market-liquidity.html


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## GumbyLearner (14 April 2009)

Uncle Festivus said:


> For all things Goldman Sachs - conspiracy theories, collusion, corruption market manipulation or any other alleged deeds.
> 
> To start with, this site has been issued a cease-and-desist letter that he    may face legal action if he does not close down his website critical of GS.
> 
> ...




How could they? 

*No end in sight*
April 13, 2009

http://onlinejournal.com/artman/publish/article_4580.shtml

According to political analyst F. William Engdahl, most of the garbage assets are concentrated in the nation’s five biggest banks: “Today five US banks according to data in the just-released Federal Office of Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default.

“The five are, in declining order of importance: JPMorgan Chase which holds a staggering $88 trillion in derivatives (â‚¬66 trillion!). Morgan Chase is followed by Bank of America with $38 trillion in derivatives, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs with a *‘mere’ *$30 trillion in derivatives. Number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain’s HSBC Bank USA has $3.7 trillion. (“Geithner’s ‘Dirty Little Secret, ’F. William Engdahl, Online Journal)


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## dhukka (14 April 2009)

Is there any end to the gaming of earnings by major US financial companies? Consider The Case of the Missing Month.




> *The Case of the Missing Month*
> 
> 6:50 a.m.| Where’s December?: Goldman Sachs reported a profit of $1.8 billion in the first quarter, and plans to sell $5 billion in stock and get out of the government’s clutches, if it can.
> 
> ...


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## sardines (15 April 2009)

Here's a very interesting Forbes article with speculation on underhanded trading during the run up of oil last year.

Did Goldman Goose Oil?
Christopher Helman and Liz Moyer, 03.25.09, 06:00 PM EDT 
Forbes Magazine dated April 13, 2009 



> *How Goldman Sachs was at the center of the oil trading fiasco that bankrupted pipeline giant Semgroup. *
> 
> When oil prices spiked last summer to $147 a barrel, the biggest corporate casualty was oil pipeline giant Semgroup Holdings, a $14 billion (sales) private firm in Tulsa, Okla. It had racked up $2.4 billion in trading losses betting that oil prices would go down, including $290 million in accounts personally managed by then chief executive Thomas Kivisto. Its short positions amounted to the equivalent of 20% of the nation's crude oil inventories. With the credit crunch eliminating any hope of meeting a $500 million margin call, Semgroup filed for bankruptcy on July 22.
> 
> But now some of the people involved in cleaning up the financial mess are suggesting that Semgroup's collapse was more than just bad judgment and worse timing. There is evidence of a malevolent hand at work: oil price manipulation by traders orchestrating a short squeeze to push up the price of West Texas Intermediate crude to the point that it would generate fatal losses in Semgroup's accounts.


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## Frank D (15 April 2009)

I read the *zero hedge blog* and I totally agree, simply because this 
same pattern occured in the last bear market in 2002-03

Everything at the moment looks like a bottom in the market has been 
found, but where we are in the markets now reminds me of the last quarter
 in 2002 and the early rise into the first quarter in 2003 and then the 
market got hammered into lower lows within a few weeks.

The same pattern low in 2002 played out in the first Quarter in 2009
 (March lows), and this 2nd quarter so far a mirror image of the early 
rise 2003.

There is nothing to suggest that the same thing will
 happen again, as everthing looks fine:- *above the 50%
 levels and pushing up towards the April highs double monthly pattern extension*

*One thing to keep an eye out is......*

Rising Weekly ranges but shorter in length and coming into the last
 week of this Month.....

Especially if there is any break of the 5-day lows and a break below 
the April 50% levels.

It's the same pattern that occured then and it's the same pattern to look
out for now.

And if the same pattern repeats as in 2003, that low will be in June 2009.

The trend is up and remains up whilst prices are above the 50% levels, 
it's just be aware how markets can quickly change, if what's in the 
*Zero Hedge actually occurs*


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## Uncle Festivus (16 April 2009)

Frank,maybe this is what the focus is on ie keeping things at technically important levels while 'things' work through the system. Just seems tenuously fragile considering any negative news is totally ignored, and in fact sometimes seen as a positive as part of the 'things couldn't possibly get any worse, so it must be getting better' syndrome?


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## Frank D (21 April 2009)

*SPI monthly charts 2002-2003*

This is a chart in the last bear market in 2002- 2003

1. We can see the 3rd Quarter breakout and the 2002 Yearly low breakout.

2. Extension down into the 4th Quarter low and reversal upwards.

3. First Quarter 'Top' and collapse into the Yearly lows in 2003 (March lows)

3. The lows in 2003 were the exact Monthly lows based on my Model. 

I remember that exact day vividly in 2003, screaming BUY.

~~~~~~~~~~~~~~~~~~~~~~~~

March lows in 2009 and Friday's recent highs @ 3852 is a mirror image of 
the same patterns in 2002-2003.

I’m not saying the same thing is going to happen, but at this stage 
I'm treating the market the same way, simply because my view is that
 the Yearly lows have to be reached in 2009.

If the exact same pattern plays out now as it did then, then low 
should be set in June, and I’ll know where that exact low will be.

That's basically why I don't want to touch a stock on the long side until 
May at the earliest, but most likely June.

Uncle,

You could be right and things could be kept above important technical levels.

But so far Friday's tops and reversal down, along with US markets
 selling down on Monday, traders need to be alert to how things can change quickly and if the same pattern repeats.

*And i'll know where that 'Screaming BUY' is again.*


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## Uncle Festivus (21 April 2009)

> The other drama in play: "Hank the Hammer" Paulson, iconic Wall Street hero, a Trojan Horse placed inside Washington by Goldman Sachs as Treasury Secretary in control of America's $15 trillion economy. Goldman, a modern dynasty with vast financial powers much like those once used by the de' Medici, Rothschilds and Morgans to control nations.




http://www.marketwatch.com/news/sto...A628-454D-80BF-C4484CEBA7DF}&dist=SecMostRead


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## sinner (25 April 2009)

http://zerohedge.blogspot.com/2009/04/goldman-sachs-principal-transactions_23.html



> Goldman principal program trading is now well over 5x compared to its customer and agency trades and a 150 million share pick up compared to last week. For yet another week, Goldman's principal trading represents more than half of all NYSE member firm principal transactions.


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## GumbyLearner (25 April 2009)

sinner said:


> http://zerohedge.blogspot.com/2009/04/goldman-sachs-principal-transactions_23.html




yep and indict me if I'm wrong

bring it!  

cheers 
Gumby


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## Uncle Festivus (30 April 2009)

The case is building against GS - 

http://www.marketwatch.com/news/story/Lets-nail-Wall-Street-a/story.aspx?guid={FBBBDF87-1FCE-41BF-A316-23216BADF4E7}


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## GumbyLearner (30 April 2009)

The triumph of political expediency

Big Yank Banks still seem screwed 

http://www.fiercefinance.com/story/more-fodder-goldmnan-sachs-conspiracy-theorists/2009-04-28

*During the week of April 13, the "bulk of the 1.234 billion shares traded by Goldman were done with the firm's own money."*


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