Financial topics

[aedens]

no clue how far this will go, alot of people are going dark.... sample below....

"Closing all my US based accounts never seemed like a better idea.
What a godamn farce."

This could be a volatile affect. Regulators seen to be worthless. White house will just
do what they want within the EPA since they deem the public useless. They are floating
to the middle to appear less radical than they are. They are not done by a long shot many convey.
Euro appears over run with hubris in spending other peoples money
until it runs out and The United States want to join the Socialist demolition derby.
And they think we are the problem as we watch the bubbles.
Many years ago I was warned of tiny bubbles going off.
Pointless, since it appears they do not need us or do they even care. Many may go dark
and that is a polite way to say what we cannot.

http://www.reuters.com/article/2011/11/ ... NY20111101

[OLD1953]

Market is going to take some big steps down. This is just the start of the first one, and it may take a while. Doubtless the government in Greece will fall, and doubtless that will just look great to the market, until they refuse to implement new austerity measures. Or the military takes over in a coup. You cannot govern when people are trying to burn the buildings down around your ears.

And how easily the unthinkable becomes possible when a crisis hits.

You want real problems? This is a real problem.

http://www.telegraph.co.uk/earth/835907 ... -Bowl.html

[richard5za]

I'm no longer position short the S&P

Very interesting. The November S&P direction is surely down but not in a straight line, in "ups and downs". Which is why you are the short term trader and not me. I am up now 12% up on my miners investment (but over 8 weeks now since the buy signal) and hoping for a lot more.

[Higgenbotham]

I am 100% short at the close, average short is S&P 1233 (October 21).

Covered all shorts tonight for about a 15 point loss (October 31).

50% short from S&P 1240 (November 2 am).
Update - 100% short from S&P 1240 (November 2 pm).

This is a very tough call. I'm suspecting that without Thursday's turbulence the market may have reached no more than 1270. From that level, more than half of the initial move down has been retraced. So while the retracement appears small on the chart in reality it may not really be small. On the other hand, the market spent all day Friday trading over 1270. So if I hit the top of this retracement, it's a luckier than usual guess.

[Higgenbotham]

Aedens, you may remember what I posted over the weekend and deleted. We are not Monday morning quarterbacks here - confirmed.

http://www.zerohedge.com/contributed/mf

[aedens]

yes, peeling the onion was my first thought as earlier. BK does a service and is good to see.
11/02/2011 - 23:31 Sample:
If you had said six months ago that the largest FCM in the U.S. would be taken down, everyone would have laughed in your face, but here we sit. The only question is, who is next? How long will an FCM like ADM last before looking at Dodd-Frank and saying, "Screw this. We're selling our clearing operations and we'll just go back to straight-up product merchandizing." Why shouldn't they? If the FCM profit center is made impossible by the government and the corrupt regulatory bodies, why would they continue to operate an FCM? Why not sell to Goldman or one of the other megabank entites and then do their exchange-traded hedge business through them as a customer? When will the old Chicago boutique firms be similarly forced out, either through regulation that makes their business impossible, or through outright sabotage as with Corzine and MF? None of you FCMs are safe. THEY WILL COME AFTER YOU AT SOME POINT. You have been targeted for extermination. Either you wake up to this fact and expose these regulatory bodies, megabanks and the Federal Government and fight them, or you are going to end up like MF, being bought by Goldman or one of the other fascist government-connected megabanks for pennies on the dollar. You have been warned.

Commodity inflation will not be tolerated it appears.

“The transfer of a portion of the national products from the hands of individuals to those of the government, for the purpose of meeting the public consumption of expenditure.… It is virtually a burthen imposed upon individuals, either in a separate or corporate character, by the ruling power … for the purpose of supplying the consumption it may think proper to make at their expense.” But taxation, for Say, is not merely a zero-sum game. By levying a burden on the producers, he points out, taxes, over time, cripple production itself. Writes Say,

z/h is correct in context to savings. "As we showed recently in our post on 3rd quarter GDP with food and energy consumer more than 23% of wages and salaries there is very little wiggle room for the average American."

Cost's are going up on staples. Some may remember Mother Nature as Old observes.

[richard5za]

Update - 100% short from S&P 1240 (November 2 pm).

As I write (Thursday 0726 GMT) Dow futures are down by over 1% so it looks like a good call. Good luck.

[OLD1953]

Some companies offer direct purchase as an alternative to brokers. If you've got the stock in hand, it's hard to pretend it isn't there.

Partial listing.

https://www-us.computershare.com/invest ... stype=dspp

[jcsok]

I'm with you, Higgenbothem. I'd been short ES on the way up (great pain), got out at on this drop at an average of 1211, and have just went short on this morning's run up at an ave of 1249.50, Now 100% short. Apparently there is some dissention in Greece's leadership of putting the latest bailout package to a vote of the people at this time, therefore a run up in ES futures. However, the Euro currency has sold off sharply, retracing the sharp rally, as of 8:45 central.

[Higgenbotham]

I'd been short ES on the way up (great pain), got out at on this drop at an average of 1211, and have just went short on this morning's run up at an ave of 1249.50, Now 100% short.

Last time we had this kind of discussion was May 2 of this year and the markets once again seem to be at a fork in the road. Your entry looks good to me. I remain 100% short also.