NDX closing range 5 pts over 4 sessions, SPX 6 pt range in 2 sessions...crude oil +1 into 60 round number test, NOV beats BP misses...best premkt volume CSCO RMBS GLD(CSCO reports tonite)...NVDA upgrade... NSM guides down suggesting that chip demand remains slight... metals bouncing as players try to take advantage of late shorts(RIO PCU SSRI PAAS)

Chalk one up for Social Equity... better late than never?

"SAN FRANCISCO (MarketWatch) -- The Securities and Exchange Commission has begun a broad investigation into whether Wall Street bank employees are leaking information about big trades to favored clients, such as hedge funds, in an effort to curry favor and has requested a wide range of information from at least four major banks, according to a media report Tuesday.

The inquiry seems aimed at determining how pervasive insider trading, or the illegal use of market-moving nonpublic information, may be on Wall Street, the New York Times reported in its online edition, citing unnamed Wall Street executives.........."

http://www.marketwatch.com/news/story/sec-probing-wall-street-stock/story.aspx?guid=%7B7C7D3B59%2D5899%2D4933%2D912A%2D18CBA1FC2B01%7D

ALOHA !!

" ... Wall Street bank employees are leaking information about big trades to favored clients ..."

OH ... What a shock? You mean like BUD FOX leaked information to GORDON GECKO in the movie "WALL STREET" ???? HA, HA, HA !!! BLUE HORSESHOE LOVES ANDECOTT STEEL !!! HA, HA, HA !!!
They did a movie about such leaks back in the 1980's !!! HA, HA, HA !!! Where has the SEC been hiding?

This has probably been going on since the first stock traded on the NYSE and the SEC wants to investigate it now ... in 2007 !!! Did they think they caught the only inside trader for the millineum when they arrested Martha Stuart? What an incredible bunch of idiots the SEC are ... They're as fair and balanced as a New Orleans cop rolling a drunk in the French Quarters!

I am also speechless to learn Wall Street Banks are involved in fraud of some sort. Shocking! I cannot believe they would do such a thing, that would be like GS manipulating its indexes to benefit its coffers. Wall Street firms never engage in such activities. They make profits from hard work, intelligence and super employees.

key numbers:

HUI.x 336=50% of 270-401 50MA= 333 200MA=328

we are overbought on most everything:
http://stockcharts.com/charts/candleglance.php?USO,TLT,GLD,SLV,$HUI,$XAU,$XEU,ssri,KRY,GSS|B|H14,3

Credit Markets

The bond market for sub prime mortgage lenders and related structured credit securities is beginning to show sign of considerable stress with both underlying and CDS spreads widening considerably. For those interested in the subject Bloomberg is actually doing a good job of tracking developments.

That said, the weakness in the sub prime market has yet to extend to rest of the credit markets where overall spreads are still remarkably tight -meaning far below historical levels. In all likelihood it will be the US high yield market that signals the first sign of trouble for the broader markets. Thta signal has not yet been issued. But stay tuned as the night is young!

Following the marvelous comments regarding the "angelic" nature of Wall Street I saw something truely amusing yesterday. Commenting on the ridiculously low level for the Japanese yen Treasury Secretary Paulson opined how it would be a uniquely bad idea for the Japanese now to begin to raise interest rates. Mr. Paulson then went onto discuss the fragile nature of the recovery in the world's second largest economy.

While I am sure Mr. Paulson is greatly concerned for the Japanese what he conveniently fails to mention is how any meaningful rise in the Yen would bring an abrupt hault to the global carry trade and inflict great pain on the global financial system. Now I am sure Goldmine Sachs had absolutely no horse in that race... LOL.

Cheers

Having reviewed the data and broadcast provided by Alamos Gold (agi on TSX) that resources at Escondida have increased 70% I am a little surprised the stock price has dropped 12%. Still long but would appreciate any insight others may have as to why the market reviewed the news negatively.

thanks

GW

British philosopher and economist John Stuart Mill put it best:

"War is an ugly thing, but not the ugliest of things; the decayed and degraded state of moral and patriotic feeling which thinks that nothing is worth war is much worse.

"A man who has nothing for which he is willing to fight; nothing he cares about more than his own personal safety; is a miserable creature who has no chance of being free, unless made and kept so by exertions of better men than himself."

ALOHA !!

Alice ... Mr. Mill I take it then has never been to war! After all how many British soldiers died keeping the Empire from crumbling? How many Roman soldiers died keeping the Roman Empire from crumbling? Wars to create "empires" are truly not worth fighting since empires only serve to oppress and enslave !!!

Give Mr. Mill the proper burial he deserves for he has no commonality with the Founding Fathers of America, who fought the only war worth fighting that of freedom and independence from the iron fist of "Empire" ... Our Founding Fathers would be very disappointed in the current path Americans have chosen.

You need to understand the difference between wars worth fighting and wars not worth fighting. I suspect our President and our Congress also need to learn that distinction.