Jon Merriman: Short Goldman Sachs, Right Here, Right Now

The panelists on Fast Money are like many people in America. Down on Lehman, and infatuated with Goldman Sachs. Do they need to be more objective? They have pitched the stock repeatedly over the past week and have gotten spanked.

Technicians would argue that Goldman's shares are at the moment of truth, at least after glancing at the chart. The stock is on the verge of taking out its March 28th lows. If it does not hold a re-test its 52-week lows might be in store.

Goldman's stock has always enjoyed a premium valuation to its peers, but a balance sheet stuffed to the gills with Level 3 assets is the talk of Wall Street. Jon Merriman sums up my thoughts on the stock in the video below, although Goldmanites are likely to scoff at his thesis. After all, the firm Jon Merriman skippers, MCF Corp. (Merriman, Curhan and Ford) (MERR-AMEX), trades on the American Exchange and sports a market cap of about $45 million, which is less than Goldman CEO Lloyd Blankfein's 2007 bonus.

Sorry Goldman, nothing personal....but all the brokers face some uphill sledding here, thanks, in part, to regulators.

Video after the jump.

Merriman, Curhan and Ford
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