Cara's Commentary & Community Chat, Thurs., Jan. 29, 2009

[7:30am ET] The story of the Fairfield Greenwich Group (see link) points to the truth of what I have been saying from the start of my blogging: the financial services industry has for years misrepresented their respective roles in serving the client.
http://finance.yahoo.com/news/Managers-luxe-life-on-the-apf-14190784.html

When almost thirty years ago the big banks started acquiring broker-dealers, they changed the name Registered Representative to Financial Advisor in order to disguise their real operations as financial product distributors. While their own RR


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vinod
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vinod

where and how to look at comment numbers?

vinod
Guest
vinod

November 6 FAS 55.50 New (debute) ETF opning price todat it closed at 9.17
november 6 FAZ 60.22 New (debute) ETF opning price today it closed at 50.40
November 6 XLF 14.81 opening price that day today XLF closed at 9.24

David has explained about this price movement in many posts. This is in down market. But what will happen in up market?

Mark Barry
Guest
Mark Barry

Hope you reconsider CP.

Chickenpookie
Guest
Chickenpookie

Thanks guys, I won’t be posting my trades here anymore.

tango6
Guest
tango6

Im a shorter as you may have gathered but YRI does look good on the long side this morning. What next, Swing trading?
Good luck!

Somebody posted the video of a young trader (I think) who was some po’d about wall st bankers. Mad as hell. Now I can’t find it but would like to. Maybe it was cut because of profanity.

shark_attack
Guest
shark_attack

I am tired of getting my positions taken at the end of the day by investors who suppress the price breakouts intra-day only to keep the pos overnight and profit, essentially trading against/taking advantage of daytraders. Now I ‘m beating the woodpeckers at their own game. How? Last night I KEPT my Yamana and I’m planning to ADD to it. Take that you accumulators!

Bruce Thomas
Guest
Bruce Thomas

Since the goldbugs expectations are awful predictors, I agree with dr. Cosa and f6. I feel gold continues to rise for now
until Central banks & US govt. intervenes to drive it down. (By the way, Gold up $18.60 per Oz. as of this post @ $923.)

Vadym Graifer
Guest
Vadym Graifer

There are a few labels replacing each other depending on a topic: StopLoss-enator, BookYourProfits-enforcer, Don’tBuyOnTips-remindator, IgnoreTalkingHeadsAndWatchPriceInstead-iser and StopComplainingJustTrade-abler. There is also a big EmotionEraser and ImpulseDetacher, and some smaller but useful tools like EndlessAnalysis-DeParalyzer and TechnicalIndicators-Feweriser.

For those with unique problems we intend to bring a 2×4 with blank label – kind of “write your problem on this sticker, put it on this 2×4, hit yourself over the head”. Self-serve, no charge, 2×4 on us.

bobbyo
Guest
bobbyo

Vad,
Does the stick have a name. The stop loss-enator!

bobbyo
Guest
bobbyo

The dollars gain against the worlds currency may make treasuries very appealing to foreigners who want to hedge their falling currency. When will gold decouple from all fiat currency? Tomorrow or is it going to keep breaking hearts.
Bob

Vadym Graifer
Guest
Vadym Graifer

Terry,

not a rumor actually. Aside from standard issue 2×4 I use on trading lectures in order to reinforce the knowledge-soaking process, I was instructed to have on hand a 2×4 with rusty nails, specifically for the purpose you indicated.

swissrobinson
Guest
swissrobinson

Wow, what happened to gold?

terryC
Guest
terryC

To those afflicted by CBD ( Compulsive Blog Disorder ) it is rumored that the CTAB conference will be conducting a clinic for those in need of treatment. Featured will be ways to reduce or eliminate one-liner comments and senseless wordage that wastes the time of others and diminish the credibility of the writer. I really hope those who need help will seek it. In the meantime, please blog less and save eyeballs!

skylane
Guest
skylane
nofed
Guest
nofed

Cuomo is opening a can of worms. Obama has also been in the news tonight about Wall Street greed. Looks like Wall Street let someone in the Whitehouse that isn’t part of the Boyz club. 10 years of analyst pumping worhless bubble of the year stocks and pocketing billions. Clawback may be the word of the year.

[complaints received; profanity deleted]

NYUGrad
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NYUGrad
SiO2
Guest
SiO2

Thanks bg. There were several terrific straddle plays this week. The number of wild oscillations is amazing (e.g, look at ZION on Jan 26, http://straddles.nexalogic.com).

BDK P35 $0.92 -> $4.50 389.13%
EK P7.50 $0.75 -> $2.60 246.67%
FO P35 $0.80 -> $2.40 200.00%
OXPS P12.50 $0.75 -> $1.80 140.00%
RCL P10 $1.10 -> $2.85 159.09%
AF P12.50 $0.80 -> $3.00 275.00%
LRCX P20 $0.30 -> $0.95 216.67%
ALL P25 $0.78 -> $2.90 271.79%
WBSN P12.50 $0.50 -> $1.20 140.00%
AMZN C47.50 $4.50 -> ?? ??
AMZN C60.00 $0.60 -> ?? ??

David
Guest
David

Vinod — yes, all ultra short ETFs will go to 0, with 3X going down faster than 2X. Among the 3X, those with higher volatility will go to 0 the fastest (that’s FAZ, since financials have occasional amazing days that lead to unrecoverable losses in FAZ). When the 3X ultrashort comes out for China, I’ll start shorting it instead of FAZ, since FXI has more volatility than XLF and also Chinese market will obviously go up long-term, while all banks can get nationalized.

Mark Barry
Guest
Mark Barry

I agree. Covered my short @17.24 from 3 months ago @ 31.18.

bg
Guest
bg

SiO2 Good call on that straddle. Thanks