The Goldman short is at the point as we have today the earnings release. We have a daily and weekly 12 Combo count around the target area - we might see a little spike today as we will see an upside suprise again but those numbers can not be repeated. The capital markets will not give this government sponsored free ride from now on.
Reality starts to bite again as foreclosures in Q3 were worse and no change of course in sight. The situation will worsen dramatically in 2010 as many factors supporting this phony recovery story will fade away. The foreign investors into US Treasuries will exit when the Obama admin allows the Dollar to fall further and that alone would trigger a sell off in stocks. They FED has driven all options they have to the limit they have only one play left which is to flood the real economy with printed money and I expect that to happen in 2010 when markets start to drop again. Goldman pretty much is the benchmark for the overall stockmarket so expect the whole market to drop after the Goldman top.