Goldman and Bailouts and Bears, Oh My!

By Todd Harrison  MAY 03, 2010 10:30 AM

Gauging the weather into a fresh five-session set.


When it rains, it pours and it's coming down hard this morning. I'm not talking about the weather -- this downpour is welcome after a near 90 degree weekend humidity -- I'm referring to the news flow, where the tape is awash in a torrent of information.

The cloudburst shouldn't come as a shocker; certain nonsensical dynamics have been persistent through the years. There's our trusted contra-hour (counter-trend action between 2pm-3pm EST), the vaunted Sleep-O-Meter (such as not catching a wink the night before that fateful day) and of course, the Out-of-Office Indicator, where volatility gets jacked when I'm away from the fray.

Last week was no exception. While I was attending the Milken Global Institute Conference -- please chew through my overview if you haven't already -- the world was a flutter with game-changing news. Goldman Sachs (GS) was under the gun -- keep an eye on that $150 level we've spoken of for months -- Greece, Portugal and Spain were downgraded -- not a shocker for ye faithful -- and Shanghai, flagged technically a few weeks and 7% ago continues to be the bear in a China shop.

That's what was, of course, and Minyanville focuses our forward lens on what will be. With that in mind, and with respect to your time, some top line vibes as we ready for a fresh five-session set:


Position in S&P