Bullish outlook for Goldman Sachs

We're preparing for earnings from Goldman Sachs coming out before US open Tuesday. In this regard the WSJ quotes Meridith Whitney:

Whitney predicted Goldman Sachs would post second-quarter results Tuesday above Street estimates - she expects earnings of $4.65 a share, compared with the average analyst estimate of $3.48, according to a survey of analysts by Thomson Reuters. She set her 12-month price target on Goldman shares at $186.

Shares of Goldman Sachs rose 2.7% in recent trading to $145.75.

We maintain a bullish view

Obamanopoly

Some wise words from Senator Orrin Hatch regarding the fundamental question of governmental interference. Speaking from someone living in a country that is on the far side of the matter - with government involvement in most parts of society - Please listen carefully!

And for other Norwegians, maybe we should try to do something about the government in this country, it is after all an election in September.

Obamanopoly Part 1

Obamanopoly Part 2

EURNOK positioning for a short

The Norwegian Krone has been sold on increased risk aversion as well as a selloff in comodities (rather oil dependant currency) . Also international investors to a great extent fail to distinguish between the Swedish Krone and the Norwegian krone. This has hit the NOK lately due to the swedish exposure to the baltic countries, in particular Latvia.

As a result we see an investment opportunity. The foreign exchange (FX) cross between Euro (EUR) and the Norwegian Krone, EURNOK, is hovering around 9.08 and 9.13. We consider this a good entry point for a short position of EURNOK and have sell orders in place at 9.12 and 9.13 for a longer term position.

4 hour chart

2009-07-10-eurnok-4h

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1 day chart

2009-07-10-eurnok-1d

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1 month chart

2009-07-10-eurnok-1m

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