WSJ:
Hedge funds dodge taxes on loans using foreign sister funds.
Removal of uptick rule increases volatility.
Small investors get nailed making arcane trades.
Options trading by small investors was up 46% yoy in July at OptionsXpress
Margin interest was up 20% at same firm.
Is anything new under the sun?
Does anyone ever pay in cash anymore? [except me}
Does anyone ever just buy a stock to hold awhile any more? [except me]
Jesse Livermore: "The big money is made in holding stocks for the big move" [paraphrased]
WMT misses EPS big, says low income people under pressure.
Hello Ben! Are you listening? Or on vacation in Nantucket with the other ivy leaguers?
PS: Bring back the uptick rule! Apply it to ETFs! Keep stock investing ... as stock investing. Get rid of this creep to commodity style trading in stocks. Yes, I an a proud anachronist. The old ways were better.
PPS: Bought some S&P Sept. eminis for a TRADE on a potential W bottom. If the pattern breaks, I'm gone. Otherwise will hold awhile. In around 1439 for Sept contract.
P^3S: I took the small loss near the cash close. I don't like the cash close under 1430. The W pattern is now suspect since the cash close was under the first leg close.
Why shud small investors get preferential treatment over others. The stock market is the only business where rules are often made for them. In every other business the larger customer ( one who spends more) gets gets the better suite, better table, better interest rate, better parking spot, etc.......
ReplyDeleteArcane trades? What does that mean?
ReplyDeleteB'man if you are in the minority with 'buy and hold'...you shud be ecstatic. If everyone adopts the same strategy.....you'll never make a dime.
ReplyDeleteCutting rates is gonna help low income people. Isn't that what got us into a mess in the first place. All I hear and read last few weeks is how mr G kept cutting rates wrecklessly.
ReplyDeleteMichael metz on bloomberg saying a recession coming by Q1 2008 to US. Heard that from a few others too. B'man what are the chances of a recsession in your opinion?
ReplyDeleteWhat's wrong with vacationing in Nantucket? Huh? Ben is an employee with a job..if he has vaction time he can spend it wherever he wants to with his money. Something wrong with spending time with ivy leaguers? Do they have less ( or more ) morals than anyone else? Huh?..Sheesh.
ReplyDeletearcane: known or understood by only a few; esoteric.
ReplyDeleteThe example was a short strangle on wheat!
Sheesh, the guy in the story only has a million in the account was was doing that stuff. What a fool!
lol, you listen to mern too much, re Mr. G. I never complained about him cutting.
ReplyDeleteRecession risk is very small unless the fed hikes, imho. By recession, I mean GDP growth actually going down two quarters consecutively - that's the traditional definition.
ReplyDeleteSustained slow growth is very possible: 2% GDP growth is slow.
Oh Bud, it's a clique of the rich and powerful and elitists who go to the "islands" - I'm being sardonic.
ReplyDeleteThat's part of the problem - these so-called leaders acting like a ruling class and separating themselves from the people.
So when they make decisions, their inputs are ... other rich & powerful ... other elitists.
You might be right about my donig OK being contrarian about holding strong stocks/groups & doing OK. That's my thinking. Instead of trading a lot and missing parts of moves & paying extras taxes, I figure that by thinking more and buying big positions in strong group & good stocks will get me big gains over 1-year timescales.
ReplyDeleteTiem will tell. It's worked for the past year, but one year does not prove a tactic.
It's consistent with semi-retirement, at least.
I think Greenspan is a fool myself, as Ive stated in the past...He left Big Ben with this mess....besides cutting rates recklessly, any moron who tells middle class working people to take out ARM's when rates are at 2%, and tells them they'll be fine since housing mostly likely appreciates 10% yoy, is a complete fool...which is why he held government jobs his whole career....that was my ode to mern...
ReplyDeletelol mfl...I still have a hard time understanding why Greenie made those comments about taking an ajustable. Die DB Die
ReplyDeleteI agree re the Elmer comments on taking out ARMs - utterly irresponsible and very harmful. He was being a "friend of the banks" since banks like ARMs by pumping them.
ReplyDeleteI think the cuts were OK. But I think now he should have raised in 50 bps bumps instead of 25 bps bumps to get to neutral (4.5-5%) faster. The slow rises were wrong.
core PPI OK. CPI tomorrow is much more important.
ReplyDeletePhooey! Why do they talk to a trader (!) about correctness of Fed policy? What the heck do traders know, except what's in front of their nose?
ReplyDeletelol Bman...the trader paying the "real" price. Those numbers from BLS are manipulated anyway.
ReplyDeleteWill the yankees ever lose again? I hate them.
ReplyDeleteBman are you long C? Do you want to be?
ReplyDeleteLooks like i shud have listened to you guys on BAC. A quality operation.....lol
ReplyDeleteyes I have C. I want more in October after more bad news comes out.
ReplyDeleteBring back the uptick rule!
ReplyDeleteApply it to ETFs!
HANS wants to 1234 today, so it won't, but looks decent anyway...if we add KO and PEP, JSDA as the spec play we have the pop portfolio...so Bunkerman we now have the death fund, life fund and the pop fund...long term investing indeed.
ReplyDeleteHANS wants to 1234 today, so it won't, but looks decent anyway...if we add KO and PEP, JSDA as the spec play we have the pop portfolio...so Bunkerman we now have the death fund, life fund and the pop fund...long term investing indeed.
ReplyDeletedie mkt die...wash out all weak hands....
ReplyDeleteYes Bman!! Bring back the uptick rule!!! lmaooooooo
ReplyDeleteIn fact why don't they make a rule...can only short a stock if it green that day. What a bunch cry babies.
HANS is not a 1234. It's filling it's earnings gap. Help him out spin.
ReplyDeleteNYX 74.25...someone should be making money this quarter on all the volume with no sub slim exposure.
ReplyDeletefill the gap....you haven't filled any gap since christ was a cub scout Bud...lol
ReplyDeletelmaoooo frosty....i have nuthin
ReplyDeletei really need to go to the batting cages tonite.....frsoty gettin his slider past me
blood in the streets very tasty lately :)
ReplyDeleteHANS is a 1234. The first day was the inside day up, then two down days. Today up is the 4.
ReplyDeleteGlad to provide a bit of rigor ;-)
It's also a bullish flag.
NYX 73.64 second taste.
ReplyDeleteuptick rule...the W market needs no sticken' rules, this is the hildog rally.
ReplyDeleteCSCO filling gap. Spin a genius.
ReplyDeletetempting to buy CSCO at 30. The weekly chart looks great.
ReplyDeleteI put some CSCO on - LT. It fits my Internet growth thesis. It's about 1/3 position - will average in using time diversification.
ReplyDeleteI screwed that one up before. I think it can go to mid 40s in the next leg
uh Bud...should I toss the next one under hand?
ReplyDeleteThe babblers on Babblevision sure screwed up their analysis of that Sentinal redemption freeze. Commercial paper is backed by bank lines (if rated investment grade), BUT those lines protect the paper at MATURITY, not if one is trying to re-sell it.
ReplyDeleteSo if Sentinal was trying to sll paper before maturity to meet redemptions, they might not get good prices, esp. for asset backed paper.
Keep chirpin frosty. After i'm done with you...you'll be 'eligible' for the US womens softball team.
ReplyDeleteOHB...taking darkside sugar...sounds like Bud wants to put my sack in the vice....fade away.
ReplyDeletewhy push the darkside here? it will just trigger the trading curbs to save the common man....DIA hit 137 last week before the upside trading curb kcicked and killed the move...who are we protecting again?
ReplyDeleteLmaooo frosty..........the common man.
ReplyDeleteFrosty..i don't like ELON at all anymore. It was on my list....but it looks horrendous now.
ReplyDeleteLooks like beefer ping pong to me frosty. Lmaoooooo
ReplyDeleteIt's intersting how the simple IBD rally rules worked here. They would have gotten one out before this.
ReplyDeleteELON...near 22.50 strike should be support Bud....not enough room for a decent fade...what else you got?
ReplyDeleteOh Ye of little faith! Disbelieve in beefers at your own risk ;-)
ReplyDeleteThis is setting up a possible "W" formation bottom, by the way.
B'man are you wary of a CPI number that is a little hot?
ReplyDeleteI think a hot core CPI yoy number that is unusally hot would be bad, but I don't expect it.
ReplyDeleteSince we don't get the next CPI number until the day after the Fed meeting (I don't know if they get it early), a hot core yoy CPI will give the non-cut side more ammo.
SO I certainly prefer a core yoy CPI downtick.
Bunkerman....W rally...atta boy... welcome back to the team...they may stray but can't stay away.
ReplyDeleteI maybe be picking up the wrong signal...added another layer of foil to my soup bowl hat.
Bought some S&P eminis for a TRADE on the potential W bottom. In arouna 1439 September contract.
ReplyDeleteI suspect the rumor-mongering and the removal of the uptick rule is going to lead to a wave of investigations of beefers.
ReplyDeleteWe need the uptick rule for ETFs, too.
ReplyDeleteBabblevision is so silly - they don't get anyone on who is really against the uptick rule. Just propaganda.
ReplyDeleteBunkerman....so we have put in the bottom and the W rally will lead us to new highs or are you playing vitrutal beefer ping pong on a micro level?
ReplyDeleteThis sure reminds me of summer 1982 when Drysdale Securities and Penn Square fails occurred.
ReplyDeleteIf my trade works, Frosty, I'm leaving it on for the big move up.
ReplyDeleteI think news flow will detemine the bottom. August has some track record for major bottoms.
ReplyDeleteELON 22.50...you with me Bud?
ReplyDeleteFrosty i don't believe in pinning.
ReplyDeleteELON cud easily work for you here frsoty. But it's not my style. It's a weakness in my trading.....i'm not good at picking turns. I'm much better with the mo.
ReplyDeleteBud we need to find something to buy...Bunkerman is going all virtual beefer on the tape...you don't want him running your upside stops with you having shorted the down tick....hope the trading curbs save you from yourself...lol
ReplyDeleteLmaoooo frosty...........trading curbs......what a joke
ReplyDeletegetting rid of all program trading would be good, too.
ReplyDeletemaybe quant funds should be banned ;-))
ReplyDeleteBunerkman...my oh my...you need to change your name to "The Regulator...lol
ReplyDeleteNYSE short interest numbers next week will be very interesting
ReplyDeletequant funds doing program trades =>
ReplyDeleteC3PO – Attack of the Clones
“Machines making machines. How perverse."
Hmmm. quant funds doing programs trades with the vix - a fourth level derivative.
ReplyDeleteMadness!!!
Bring back humans!!!
It will never happen. The Street makes too much money on those and pays off Congress and the SEC.
ReplyDeleteThe Regulator....lol....
ReplyDeletehehehe I used to have a fine pair of .45 Long Colt single action revolvers - they were "Regulator" models ;-)
ReplyDeleteAnd I had a long plains "duster" too ;-)
I took the small loss on the futs. I don't like the cash close under 1430.
ReplyDeleteGodammit..............bring back the damn uptick rule. Stox gettin too low to short.............lmaoooooooooo
ReplyDeletespinny..aka the cisco kid...in the virtual saddle with him...buck away beefers, your are about to be riden' hard and put away wet.
ReplyDeleteIf the uptick rule were still in effect the Dow would be at 15,000 by now...
ReplyDeleteVick's friends have all turned as of yesterday....not that he has been proven to have done anything wrong...that is just the way the stafffordshire terrier crumbles.
ReplyDeleteAMAT that guide down for Q4 just might leave a mark...ouch
ReplyDeleteBud won't respond to Vick comments anymore. It is sad. We want the old Bud back.
ReplyDeleteMav I hear ya'...poor sob....that car wash swing shift must be taking it's toll...I will revert back to my kind, gentle self while he get's back on his feet.
ReplyDelete