"THE MARKET... consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Alexander Elder

Wednesday, January 30, 2008

Tuesday, January 29, 2008

Those lenders should be spanked!

... or at least scolded.
We won't be surprised when this goes nowhere.

see: "The FBI is Concerned"

Sunday, January 27, 2008

Thursday, January 24, 2008

French Bank in Trouble

Rogue trader takes the blame.
see: Secret Trades
see: "everyone's worst nightmare"
see: Reuters video
see: 4 times greater losses than what brought down Barings
see: "Rogue trading is probably a daily occurrence..."
see: French police raid flat

An "INDEPENDENT" view, suggesting complicity, coverup and more? You decide!
"He did not siphon off a single cent, and did not profit in any way"
from the bank's assets, Mr Kerviel's lawyers told AFP.
see: Kerviel in temporary detention
see: video update: Kerviel free on bail
see: video update: They were warned

Monday, January 21, 2008

"... deflation rather than inflation."

"Should we thus worry about US and global stagflation? This note will argue that such worries are not warranted as a US hard landing followed by a global economic slowdown represents a negative global demand shock that will lead to lower global growth and lower global inflation. To get stagflation one needs a large negative global supply-side shock that, as argued below, is not likely to occur in the near future. Thus the coming US recession and global economic slowdown will be accompanied by a reduction – rather than an increase – in inflationary pressures. As in 2001-2003 inflation may become the last of the worries of the Fed and one may actually start hearing again concerns about global deflation rather than inflation."

quote source: Nouriel Roubini

Sunday, January 20, 2008

Real work, banks, and a loss of integrity

A sad accounting.
A billion bailout here or there, but if you're a farmer in Sardinia...
see: Disgraceful!

Friday, January 18, 2008

In Memorium

Bobby Fischer, the legend of Chess.
see: BBC
see: The Independent
see: The Guardian
see: The New York Times
see: Iceland Review

Worthy of Quote

"Prepare psychologically for the destruction of a lot of fictitious "wealth" -- and allow instruments and institutions based on fictitious wealth to fail, instead of attempting to keep them propped up on credit life-support."

James Howard Kunstler
see "Think Link", this blog
see also: 2008 Forecast

Swiss Bank in Trouble

see: UBS

Tuesday, January 15, 2008

Sunday, January 13, 2008

Back to school?

You CAN learn about options. Whether or not you can make any money...
Anyway, check out
OIC. They have lots of free podcasts, webcasts and do not
make their money scamming you, (they leave that to others).
Their institutional section has info on the
VIX, or "investor fear guage".

see also: Options Bonanza

Saturday, January 12, 2008

Does your computer have a cold?

Might be one lurking without you knowing about it!
see: Virus Warning

Also see: Why people strip down on a glacier!
or "Hey Buddy, you're shoe's untied!"

About the artist.

About Ubuntu.

Wired on Ubuntu.

Friday, January 11, 2008

Playing "footsy" with the FTSE

Via fellow trader "Pupkinus", we have new links for the FTSE and DAX.
The Eurex is described as being "one of the world's largest derivatives exchanges and the leading clearing house in Europe." Check out their site at EUREX.

Thanks Pupkinus!
I wonder what the volume is like compared to the CME?

Thursday, January 10, 2008

Wednesday, January 9, 2008

Monday, January 7, 2008

Spend now, Save now, It's all good

Spend now to keep the economy rolling, but hey..., didn't you save enough for retirement? Great ideas from Britain. see: Government Solutions and your money

Invitation to those already trading well and living

Greetings. Well, you must be happy! You are already trading well and living. Admit it, you want to tell us how you do it. You want to have an audience.

You wake up in the middle of the night screaming, "Your moving average just crossed, pull the trigger!" Or, "You're right you bum, you do have a tough life. Here take my wallet."

Ok, so here is your chance. Just leave a comment below this post. Come on, tell us your secret. No, not that secret, YOUR secret. That stomach reflux will settle down, and you might even sleep through the night. Waiting...
eXTReMe Tracker

What is a Bucket Shop?

"Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market."
see: Wikipedia

The SEC believes that "internalization" is somehow different, and this affects ALL of your online trading, no matter what you are trading. Trades that are executed outside of the exchange, never reaching the main market, effectively hide data from technical analysis, and skew pricing.
see: Not a bucket?

"... internalization hurts retail customers and market quality"

see: EconPapers

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