Trading Now

Trading Now

Tuesday, October 27, 2009


*even OPEC knows that this increase in oil prices is PURE speculation and are arguing with Iran over supply. And Nigeria issued reports yesterday that a cease fire was in place. You would think the price wopuld have tanked and my short would get that much needed bump. But nooooooo. So I will wait until thanksgiving when people realize that the gluttonous SUV driving US consumer throws the keys into the hudson at the prospect of ever increasing gas prices and no job prospect in sight. Lucky day ladeeda!
Asian markets decline on oil-price drop
Markets were lower in Asia on Tuesday after a decline in the price of oil pressured energy stocks. Japan's Nikkei 225 Index was off 1.3%, Australia's S&P/ASX 200 Index fell 1.1%, South Korea's Kospi Composite Index decreased 0.9% and Hong Kong's Hang Seng Index declined 1.6%. The Shanghai Composite Index also lost 1.8%. The Wall Street Journal (27 Oct.)

*you're not surprised that they would defend these practices are you? And frankly, I don't care whether they do anything or not because I am a trader and traders have known for sometime that this has not been your fathers stock market so we trade accordingly. Investing is over and will likely never return.
Goldman Sachs defends market practices in report to SEC
In a lengthy report to the Securities and Exchange Commission, Goldman Sachs Group defended high-frequency trading, dark pools, short-selling and other market strategies. "The investing community (especially retail) has benefited from the evolving market structure and industry competition," Goldman said in the report. Lawmakers have criticized the practices and are looking into ways to increase their transparency. Bloomberg (10/27)

*see? You don't have to take my word for it. Sell bonds now.
Pimco's Gross says selling pressure to come for bonds
Pacific Investment Management CEO Bill Gross says that when the government withdraws its support for credit markets, bonds will see increased selling pressure. Gross said that there is concern about how economic recovery will affect Treasury bond sales. "Perhaps the upward influence in terms of those longer-term Treasuries will be felt more strongly in the next several quarters," Gross said, describing the effect of shutting down support for credit markets. Reuters (26 Oct.)

*Hummm. A few years late and Short Short Short the markets. Ijiots!
Concerns about asset bubbles prompt central bankers to act
Central bankers around the world are trying to avoid the types of policy mistakes that led to speculative bubbles and eventually to the global financial crisis. They are giving more weight to accelerating asset prices as they consider monetary policy moves. For example, when the Reserve Bank of Australia increased interest rates a few weeks ago, Governor Glenn Stevens cited increasingly expensive real estate as a reason for the change. Central banks "will be very wary as property and equity prices start to boom," said Stephen Cecchetti of the Bank for International Settlements. "They will worry about it much more actively and they'll do that around the world." Bloomberg (26 Oct.)

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