EFTA00757765.pdf

From: Jeffrey M Matusow To: Jeevacation <jeevacation®gmail.com> Subject: **GS stock strength - shrs up 1.4% and is the second best performing stock in the sp500 Date: Tue, 25 May 2010 17:04:11 +0000 Goldman up $3 today - a few bullet points on why from my trading desk below. GS strength - • technically - is holding the —$140 level pretty well (this was support last May-Jul) shrs have bounced in the high $130s for last —week and held • settlement spec w/SEC - this was out Fri morning (although recall the WSJ late on Fri said a settlement wasn't close) • regulators not pursuing criminal charges against AIG (this was out late Fri/sat) helping take away tail risk for GS (recall the SEC charges are civil ....the WSJ reported a few weeks back that the Manhattan's DA office was looking into the charges on criminal grounds but the fact charges not being pursued against AIG helping sentiment) • optimism that conferencing process will take some of the rough edges off the Dodd bill (Frank was on the tape this morning saying the Lincoln bill goes too far) • recall GS was an aggressive buyer of their own stock in Q1 - from the Q1 conf call: " the Firm repurchased 13.2 million shares for approximately $2.3 billion. 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This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of J. P. Morgan. Jeffrey M. Matusow lPhforgan Vale Bank 40 West 57th Street. ??rd Flax. New York. NY 10019 Work: 212.622.7053 Fax: 2'2.3'0.0'0g Email ieffrey.m.matusowfirkmorgan.cam IRS Circular 230 Disclosure: lPhforgan Chase & Co. and its affiliates do not poet alc his ash Icc. Accoidingly. any discussion of U.S. tax natter; contained herein (including any attachments) is not intended or wiriten to be used, and cannot be used, in connection with the promotion. marketing or recommendation by anyone unaffiliated with .IPhforgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. EFTA00757766