Trading Now

Trading Now

Friday, July 24, 2009


*Microsoft has worst earnings ever in the history of the company. Futures fell overnight. Amazon and Broadcom not much better. American Express and Capital One also did poorly. Visa, Mastercard and financials likely to be hurt. But remains to be seen if gangsters will rally the market up for one last ditch to save Obama's healthcare plan.

*if you were wondering how GS could make all that money trading 2Q, this is one explaination
High-frequency trading becomes mysterious market force
High-frequency trading allows a small group of traders to catch a glimpse into investors' orders and master the market. Critics allege that the traders are able to manipulate share prices with their powerful computers. High-frequency trading is one of the reasons Goldman Sachs, hedge funds and other Wall Street firms have been able to post such high profits as the financial crisis continues, according to this article. The New York Times (7/23)

*Obama and Bush have alot more in common than you think, their own party are unhappy with them
Fast track for health care reform is derailed
The top Democrat in the Senate says health reform legislation will not be approved before the August recess. A White House fast-track approach to passing the legislation by Aug. 7 has caused divisions among Democrats, and it appears to be on the verge of failing. In the House, an uprising by conservative Democrats appears to be threatening the ability to pass the bill before the recess. The Washington Post (7/24)

*and GERMANY is getting ready to declare the same. Scary stuff, that denial. Double Dip is in for sure now.
Canada declares end to its recession
The Bank of Canada announced that the country's economy is expected to grow 1.3% this quarter, marking the end of its recession. The central bank said the nation's economy likely will grow faster than most of the industrialized world next year. Bank Governor Mark Carney warned that the return to growth depends on the government continuing its stimulus programs and the central bank holding its interest rate at 0.25% until the middle of next year. The New York Times/The Associated Press (23 Jul.)

*let the trade wars begin
BIS warns about banks' withdrawal from international finance
The Bank for International Settlements said a deterioration of cross-border financial flow is threatening global trade and finance. "Large-scale reversals of exposure have started in the fourth quarter of 2008, and it's been pretty serious for six months now," said Stephen Cecchetti, chief economist at the BIS. "The risk is that national authorities will require banks to operate only inside national boundaries." The Wall Street Journal (24 Jul.)

*there is no shortage of ijiots. CALPERS posted a $60B loss last year and now they THINK they can recoup their money. IJIOTS!
CalPERS turns to higher-risk investments
Searching for ways to boost yields generated by its investments, the California Public Employees' Retirement System, the state's biggest pension fund, is preparing to pour billions of dollars into private-equity deals, hedge funds, California real estate, high-yield bonds, commodities and timber. CalPERS is moving into what are generally viewed as risky investments to get annual returns up to its target of 7.75%. The New York Times (23 Jul.)

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