Become the Successful Trader You Always Wanted toBecome the Successful Trader You Always Wanted toShadowtraders blog is an excellent commentary on the Futures Market, Trading Online, where the Stock Market is going, the Sub-Prime issue. It is written by seasoned veterans who have traded on the floor of the CBOT. Articles
FBI investigates 14 firms in subprime crackdown
2008-01-30 00:46:00 “It’s all fun and games til someone gets their eye poked out!” The FBI is investigating the corporate cases in parallel with the Securities and Exchange Commission, which has opened about three dozen civil investigations into the subprime market collapse. Some of the probes overlap, an official said. Targets of the SEC probe include Swiss bank UBS ... More About: Subprime , Crackdown , Firms , S 14
As goes Citicorp, so go the rest?
2008-01-29 20:00:00 Consider this: Citigroup Inc. has ended last year holding at least $18 billion in mortgage-backed junk which they have had to write off. Their share price has been halved in a year causing their shareholders billions in losses. From a venerable bank, they have been reduced to a tincup institution, selling parts of themselves at ... More About: Rest
Societe Generale losses an inside job?
2008-01-29 19:57:00 (LPAC) — The final disintegration of the global monetary system was but a hair’s breadth away on January 21 and 22 of this year. Stock markets all around the world dropped precipitously on Monday the 21st, except for markets in the U.S., which were closed for the Martin Luther King holiday. Faced with the prospect ... More About: Inside , Inside Job , Losses , Societe Generale
Wall Street Bonuses — Good to be King!
2008-01-29 14:57:00 Wall Street bonuses totaled $33.2 billion in 2007. This is down only 2 percent from 2006. These estimates were made by the New York state comptroller’s office. In fact, there were 7 Wall Street firms that actually increased their compensation and benefits package to a total of $122 billion, an increase of 10 percent ... More About: Wall Street , Wall , King , Good
The Plunge Protection Team
2008-01-28 19:33:00 An excellent article which gives the history and background of the PPT as well as current operations and planning. Created by Executive Order 12631, this action was largely the result of the crash of 1987 where a total collapse of the markets was narrowly averted with concerted action. This formal government entity is charged with “enhancing ... More About: Team
IMF gives shock fiscal warning
2008-01-28 19:17:00 The intensifying credit crunch is so severe that lower interest rates alone will not be enough “to get out of the turmoil we are in”, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, warned at the weekend. story continues here More About: Shock , Warning , Fiscal
Could Real Estate Drop Even More?
2008-01-28 16:54:00 Prices of commercial properties may be heading lower. Today real-estate investment trusts (which can readily predict the real estate market trend), are now down over 5% from last year. And real estate professionals are expecting another 5% drop to come. According to Green Street, Commercial residential REITs now trade 14% below their underlying asset ... More About: Estate , Real Estate , Real , Drop
Weekly Commentary January 28 thru Feb 1
2008-01-27 23:16:00 Last week we told you to watch out for the Market to reverse. On Wednesday and Thursday the Market did just that. The Feds dropped the interest rates by 75 basis points. The Market went from down 300 to up 300. However, as it enough to hold the Market? More About: Commentary , January , Weekly
Chavez urges withdrawals from US banks
2008-01-27 14:53:00 Venezuelan President Hugo Chavez urged his Latin American allies on Saturday to begin withdrawing billions of dollars in international reserves from U.S. banks, warning of a looming U.S. economic crisis. http://news.yahoo.com/s/ap/20080127/ap_on _bi_ge/venezuela_alba_summit;_ylt=AruO2fK MXGZjd90UsNUVBXOs0NUE More About: Banks
Feds accused of gold price manipulation
2008-01-25 22:05:00 “Anybody Seen Our Gold ?” is the title of the ad, which alleges U.S. gold reserves held at depositories such as Fort Knox and West Point may have been seriously depleted. The Gold Anti-Trust Action Committee asserts U.S. gold reserves are being shipped overseas to settle complex transactions utilized by the Federal Reserve and the ... More About: Price , Manipulation
Banks ‘face a further $300bn sub-prime hit’
2008-01-25 21:58:00 The world’s financial institutions will have to write down a further $300bn (£152bn) of US sub-prime losses before the crisis is over, according to a study by consulting firm Oliver Wyman. story continues on link: http://www.telegraph.co.uk/money/main.jht ml?view=DETAILS&grid=&xml=/mone y/2008/01/25/cnsubprime12.xml More About: Banks , Face , Prime
End of dollar as reserve currency?
2008-01-25 00:48:00 The buzz in Davos is that the dollar isn’t as hot as she used to be…oh, the image of the dollar as a fifty-plus tart in a bar looking for a hookup. “Hey sailor, wanna see my big T-bills?” http://www.iht.com/articles/2008/01/23/bu siness/davos.php?page=1 More About: Dollar , Currency , Reserve , Serve
Banks pressed to bail out bond insurers
2008-01-25 00:14:00 Link to Financial Times article. A bailout sounds good at first unless one considers what exposure this will put banks under. http://www.ft.com/cms/s/0/107a1c0c-c9eb-1 1dc-b5dc-000077b07658.html More About: Bond , Banks
Soros predicts recession
2008-01-24 19:44:00 See the link to the brief article on George Soros , predicting the worst recession in 50 years. Mind you, this is the same guy who broke the british pound in 1992 and the Thai bhat in 1997. I would venture that his ‘prediction’ is telegraphing his going short on dollars, so now he has to ... More About: Recession
Freddie Mac getting whacked in Ohio
2008-01-24 19:37:00 I’m really starting to like Ohio . First they call out Deutsche Bank for trying to foreclose on mortgages that they didn’t have the deeds to, now they’re getting after Freddie Mac for misleading the Ohio Public Employee Retirement System. Note, this is the second time in 3 years Freddie Mac ’s been called on this. http://www.dispatch.com/live/content/loca l_news/stories/2008/01/23/FREDMAC.ART_ART _01-23-08_B1_9394SKM.html?type=rss&c at=&sid=101
Your Plunge Protection Team at work
2008-01-24 19:06:00 A nice demo of the recent PPT activity in the marketplace. http://news.goldseek.com/RickAckerman/120 1071660.php More About: Work , Team
Trader loses $7billion for French bank
2008-01-24 19:02:00 Think you had a bad day trading? Try this guy… http://biz.yahoo.com/ap/080124/france_soc iete_generale_fraud.html More About: French , Bank
Flight to Cash and Bonds
2008-01-24 02:11:00 The latest problem facing our bear market is that investors are fleeing from stock market funds and switching to bond funds, despite their brokers urging them not to make a hasty decision. But investors are panicked. To date, U.S. investors have pulled out $25 billion from U.S. mutual stock funds and $11 billion ... More About: Bonds , Cash , Flight
Financial Tsunami, Part III
2008-01-24 00:20:00 A continuation of the F. William Engdahl series of essays regarding finance and the troubles of today’s markets. http://www.globalresearch.ca/index.php?co ntext=va&aid=7876 More About: Tsunami , Financial , Part
Look at the steak, not the sizzle
2008-01-23 23:23:00 Look at the steak, not the sizzle As is my habit, I frequently chat with people about money, investments, current economics, etc. to see what other folks are up to in the market. Far too often I come away disappointed at the inability of investors to actually LOOK at what’s happening in the overall markets and ... More About: Steak
Fed propping up economy like a Weekend At Bernie’s
2008-01-23 20:11:00 A good article on the financial challenges for now and into the near future. Listening to Bernanke is like getting a fresh rendition of the “Dead Parrot Sketch” from Monty Python. http://www.newstarget.com/022528.html More About: Economy , Weekend , Bernie
Sound the Alarm!!!
2008-01-22 20:07:00 Alarm is increasing in the bond markets, as Fitch Ratings has downgraded the rating of Ambac, the second-largest insurer of municipal and structured bonds, by two levels—from AAA, to AA. This means that Ambac will no longer be able to insure bonds, which is the majority of its business, and will have to sell itself ... More About: Sound , Alarm , The Alarm
Level 3 Assets
2008-01-22 01:24:00 In the last couple of months we’ve heard a great deal about Level 3 assets and how these are the new 800 lb. gorilla in the board rooms of some rather large players in the marketplace. I want to present some data on what Level 3 means, and what are the real exposures faced by ...
Financial Tsunami, or, Of Gold and Paperwork
2008-01-21 20:31:00 Below are links to F.William Engdahl’s analysis of financial markets. I was particularly tickled by Deutsche Bank’s major boo-boo of not having the deeds when trying to foreclose. As well is a follow-up which goes over how the good old days of “good as gold” are long gone, replaced by red ink, and what that ... More About: Tsunami , Gold , Financial
USA credit sinking
2008-01-21 19:10:00 Since it began to give credit ratings to nations in 1917, Moody’s has rated the United States triple-A. U.S. Treasury bonds have been seen as the most secure investment on Earth. When crises erupt, nervous money seeks out the world’s great safe harbor, the United States. That reputation is now in peril. http://www.miamiherald.com/851/story/3826 36.html More About: Credit
World Markets on Brink of Recession
2008-01-21 15:37:00 Today the World Markets said to the Bush Administration…we don’t believe your administration can turn around the imminent recession your country is having. Thank you for a Global Market Meltdown!! More About: Recession
Weekly Commentary January 21 thru 25
2008-01-21 00:57:00 Last week we alerted you to the fact that this was going to be a rough week for the market…and it was. The Market dumped another 400 points. More About: Commentary , January , Weekly , January 21
Phily Who?
2008-01-17 16:59:00 Today, 17 January 2008, the Philadelphia manufacturing report was released by the Federal Reserve Bank. The index plummeted to -20.9, the lowest since October 2001. Economists expected -1.0. Any time the index drops below 1 — that indicates significant worsening business environment. The Philadelphia report covers eastern Pennsylvania, New Jersey and Delaware. The report shows ...
Bush and the PPT
2008-01-15 21:19:00 Check out this article on the PPT http://www.gata.org/node/5904 More About: Bush
Weekly Commentary Dec 7 thru 11
More articles from this author:2008-01-13 16:25:00 This was our second week back after the holidays. Unfortunately,the Market did not recover. In fact, it was shown that this start of 2008 is the worst start to the Stock Market in decades. More About: Commentary , Weekly 1, 2, 3, 4, 5, 6, 7 |
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