stay bullish

Yesterday was not real. Goldman Sachs Group Inc., the securities firm that reported its first quarterly loss yesterday, fell 2.7 percent in Germany, while
International Business Machines Corp., the world’s largest provider of
computer services, dropped 2.9 percent.

I am bullish on GS, mainlly because it is over-valued, and not by a small amount, y at least 25%. If you can take a short position on the stock.

Futures suggested the S&P 500 will decline after a 5.1 percent rally
yesterday spurred by the Fed’s move to cut its benchmark interest rate
to as low as zero. The central bank’s decision came after simultaneous
recessions in the U.S., Europe and Japan dragged the S&P 500 down
almost 45 percent from its 2007 record.

Following interest-rate cuts you always see an initial reaction and
then you get back to your senses. All the structural indicators, such as the economic cycle and profit outlook, remain negative.