Usually, it takes about three to four days for the rally after one of these Darden presentations, the reps have to go back to their hedge funds etc and sell their money men to commit to a few hundred million based upon all the good potential they heard for kwk.
its time for something good to happen for long suffering quicksilver stockholders and employees.
Forget gold! Natural gas is the new safe haven: Goldman
April 16, 2013, 10:34 AM
Some fingers have been pointing at the direction of Goldman Sachs for helping to drag gold into bear territory after the investment bank slashed its 2013 and 2014 forecasts last Wednesday.
Just two days after that call, gold crashed. Of course, there are a myriad of factors that led to gold’s demise. HSBC listed at least six big ones in a note Tuesday.
However, Goldman, it seems, is not quite finished with its bearish gold view. In a note entitled “There are weeks when decades happen,” Goldman lowered its short gold recommendation to $1,400 on Tuesday, after two days of heavy gold selling dropped the metal below Goldman’s $1,450 short target. And if the investment bank is to be believed, things aren’t going to get better soon.
“The most recent ETF holdings showed acceleration in the liquidation of length, which points to a broad-based sell-off extending beyond the futures markets with potentially more room to go,” says Goldman. Its analysts say they will stick to that call while they wait for evidence of a bottom, though their price forecasts will not change for now. Read The day gold died
So if you can’t put your faith in gold, what can you put it in? Natural gas, says Goldman.
“Over the previous five years the two highest conviction trades in the commodity complex were being long gold in response to the debasing actions of central banks around the world and short natural gas in response to the shale revolution,” says Goldman.
“These two trends have now likely reversed and our conviction in these new trends has risen significantly over the past month as we have introduced both going short gold and long natural gas trading recommendations.” (Check out Gold bust is masking some big resource wins)
Goldman explains that those trends shifts represent a big departure from the past decade and are “implicitly interrelated.” The shift in gold represents more confidence on the e