Goldman says Brent crude will hit $130

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Old May 24, 2011, 1:54pm   #1
 
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Goldman says Brent crude will hit $130

Self-fulfilling prophecy?

Quote:
Goldman Sachs has called a bottom to the correction in commodity markets, advising clients to buy oil, copper and zinc after a 9 per cent price fall since the start of May.
and

Quote:
Last month, the bank caused a stir when it recommended cutting exposure to commodity markets, arguing that oil prices had “pushed ahead of where fundamentals currently suggest”. A few weeks after Goldman’s bearish call, commodities suffered one of their sharpest one-day falls on record, with oil falling by up to $12 a barrel in a day.
http://www.ft.com/cms/s/0/bbf15300-8...#axzz1NGmIxrQj
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Old May 24, 2011, 1:56pm   #2
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Re: Goldman says Brent crude will hit $130

Time to sell oil then. They predicted $200 oil back in the summer of 2008.
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Old May 24, 2011, 2:05pm   #3
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Re: Goldman says Brent crude will hit $130

i always thought the clients who followed all of their calls like this consistently lost money
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Old May 24, 2011, 2:06pm   #4
 
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Re: Goldman says Brent crude will hit $130

China Diapers started this thread Oh OK, thought it might have been the case everybody would jump onboard and there would be a rally just because Goldmans says.

Also

http://www.cityam.com/news-and-analy...on-oil-markets

http://www.cityam.com/news-and-analy...al-trade-probe
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Old May 24, 2011, 2:12pm   #5
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Re: Goldman says Brent crude will hit $130

more likely that theyve got a bunch of inventory they want to dump
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Old May 24, 2011, 2:13pm   #6
 
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Re: Goldman says Brent crude will hit $130

China Diapers started this thread Yes that occured to me after posting. I really wish I wasn't so ****ing naive!
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Old May 24, 2011, 2:16pm   #7
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Re: Goldman says Brent crude will hit $130

Careful here, Goldman are evil. They're constantly trying to make money. Banks attempting to make profits should be banned .... look at the fine examples we have in this country, with Lloyds and RBS.
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Old May 24, 2011, 3:00pm   #8
 
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Re: Goldman says Brent crude will hit $130

Goldman is god.
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Old May 24, 2011, 3:04pm   #9
 
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Re: Goldman says Brent crude will hit $130

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Originally Posted by DashRiprock View Post
more likely that theyve got a bunch of inventory they want to dump
Futures and options rather than hundreds of supertankers lying off shore, I'd guess.
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Old May 24, 2011, 3:42pm   #10
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Re: Goldman says Brent crude will hit $130

there was that contango a while ago werent there where you could rent a capesize, fill it with oil, park it in a harbour and sell it fwd
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