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Two Ways To Play: Goldman Skips the Bonus Round

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Strengthen your portfolio in good times and bad.

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No Bonuses for Goldman's Top Seven

According to the Wall Street Journal, Goldman Sachs (GS) CEO Lloyd Blankfein and 6 of his top executives will forgo bonuses this year. After months of internal debate, the move was approved by the board yesterday.

A firm spokesman said Blankfein and his fellow executives felt it was the right thing to do, especially during this time of economic distress. Ever the trendsetter, some believe other Wall Street banks will follow Goldman's lead.

See Jeff Macke's comments on Goldman last week in The Duck-and-Cover Market.

From the Bull Pen: If this trend continues, it doesn't bode well for Goldman's longer-term outlook, or the outlook of other banks. The talent at these companies will simply leave. As for the company's stock, the short-term uptrend remains intact. Sell stops can be set near $63-64.

From the Bear Cave: Bears can consider downside plays in stocks that are giving up too much of last Thursday's rally. One is Lindsay Corp (LNN). A buy stop can be set above $45.


Quick Check Around the World

Asian trading closed with the Hang Seng -0.10%, Nikkei 0.71%, Sensex -1.01%, Taiwan -0.29% and Shanghai 2.22%.

Glancing towards Europe, we see the CAC -1.82%, DAX -2.20%, FTSE -1.73%

As of 8:00 a.m. EST, S&P Futures are trading -8 to 854, and Nasdaq futures are -7 to 1149.
A Look At Commodities

Crude oil is trading -0.38 to 56.66. Gold is -0.20 to 742.30. Silver is -0.500 to 9.480 and copper is +8.650 to 170.15.

The dollar index is +0.626 to 86.988.


On the Radar

Economics

08:30 Empire Manufacturing
09:15 Industrial Production
09:15 Capacity Utilization

Click here for the full trading radar.

Happy Monday! Good luck!

Position in GS

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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