NEW YORK ( TheStreet) -- The freefall in crude oil prices and energy stocks in the past two days is either the beginning of a major market correction that harkens back to 2008 or simply a convenient profit-taking moment for Goldman Sachs, its clients, and any investors who choose to join the Goldman bandwagon.
A Goldman Sachs "sell" call on commodities released late on Monday was the marquee headline in sending energy stocks and commodities into a tailspin, given the investment bank's history as a commodities trading bull.
The Goldman Sachs report released late on Monday announced that it was closing out its commodities basket trade.
"We are recommending closing the
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV