Update on the Goldman trade
Turns out that when the people in charge force a multi-trillion dollar wealth transfer from the public to the banks, that the bank stocks will go up a bunch. Oh, and the shorts will squeeze themselves silly, spiking stocks across the board, but not quite as much as the trillion dollar welfare lottery ticket holders of the bank investors.
On that note, Goldman Sachs is up nearly 15% on the day, and nearly 30% since I bought those calls in it a few weeks ago. Those calls were out of the money when I bought them but are now increasingly in the money and the leverage in them is really kicking in today. I’m selling half of the Goldman calls right now.
Another big up day and I’ll be actively adding to our shorts and/or puts, btw.
