- Jul 15, 2014
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Did you see where Interactive Broker has apologized and will pay customers $113M out of pocket that got screwed when oil went negative because they never foresaw that when designing their trading platform?
Anybody taking advantage of Coronavirus?
- Thread starter ThreatMatrix
- Start date
- Nov 19, 2014
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Thank you for letting me know. I did not see that as I am out of town for a period of time and away from my screens. Also away from most of the news and only check in a few times a day. But I did just look up that story and that is quite a large mistake, but good on IAB and Tom Peterffy for stepping up.
- Nov 19, 2014
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So I was just thinking about the thread title as I have a few minutes today to see that the DUMS want to extend the EXTRA Unemployment benefits thru January or whatever maybe forever who the hell knows? But we are in here tossing ideas back and forth about stocks or maybe fixed income or maybe hard commodities or cyber/digital money/currency or what it is in thin air and all banging our heads against the wall trying to make a few remnimbi. When all the while the people who are "taking advantage of the Sars-Cov2" are the people who are sitting at home, making more money sitting at home than they would be working not trying to have to time some financial purchase or short sale hoping they make money. They are MAKING MONEY. No work, eating potato chips on the couch, playing video games or going out fishing all day. No mortgage payments now, soon to be relief for Utility bills, probably none of it considered taxable, etc. etc. etc. So as we rack our brains thinking we might be smart, the truly intelligent ones are making hay while using zero brain power!
- Jun 12, 2014
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Founding Member
- Nov 19, 2014
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So June Crude Futures closed today at just below $32/barrel and expires tomorrow, so it will trade very few contracts. So for those who shorted this contract over the past month in hopes there would be a similar outcome to the May contract expiration just got fist-fkked by Mike Tyson without lube. The one chance was the day @no1g8r proposed a trade and to cover it the very next day. Since then it has been, in trader parlance, to the moon Alice.
- Jul 15, 2014
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Time to get all in, bullish... we are heading for full melt up...
Trump signs E.O.: 'Regulations will be cut'
Trump signs E.O.: 'Regulations will be cut'
- Sep 8, 2014
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This entire bill is so irresponsible it's beyond words.
- Jul 15, 2014
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Look closely at the far right side of the chart for April 2020...
Required Reserves of Depository Institutions
Required Reserves of Depository Institutions
- Nov 19, 2014
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Many banks have now exceeded the FED mandated reserve requirement and are doing so in anticipation of the shyt hitting the fan that is undefinable as of now b/c the results of the KUNG FLU will take years to shake out. Secondly the FED pays banks interest on these excess reserves which I have argued for years should not happen. It gives banks even less incentive to make loans during less than perfect ideal conditionals. And today making loans in these conditions is sub-optimal at best.
- Jul 15, 2014
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The mandated reserve is now zero. Also, banks no longer have to carry vault cash.
- Nov 19, 2014
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Is the mandated reserve currently zero b/c of the KUNG Flu and they want banks to have that money on hand?
The zero vault cash harkens back to one of my horrible experiences at B of A. I had an account there for years, but they did everything possible to try and lose my business. I only kept money there b/c B of A has an ATM on every corner in every town. Well I finally could not take their BS anymore and walked into their main branch to close my last account. I had about 9 grand or so. Asked me how I wanted it and I said green cash. They said they did not have that kind of money in their vault. I said WHAT?? they had to call 3 branches to find one that had 9 grand in their vault. Times were changing then and I guess they have totally changed now
- Jul 15, 2014
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- Nov 19, 2014
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Bank day again today. Once or twice a month now they rise up and people rush back in as well as the dash for trash stocks. Cruise lines, gaming, hotels, etc. etc. Probably will last another 37 minutes. Stay at home stocks down, most tech stocks underperforming the market today, but they have had huge runs. Just find it interesting. Does allow those of us who hold many of these "value" stocks mainly for their somewhat secure dividends to unload at better prices and just wait until they sink again to pick back up at juicier dividend yields.
- Jul 15, 2014
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Four things are still driving the markets... two tangible, two intangible...
Tangible:
Tangible:
- Propping up oil (a struggle, but they've been trying).
- Propping up the 10 year (a struggle, they've been trying, but sinking again last few days because of one of the intangibles).
- Rumors of China trade deals... it's huge, and all been BS to date. Market sagged into close yesterday and open today waiting for Trump's presser on China trade deal today. He knows it's critical to proppinig up market, expect more, unverifiable BS on this today. If market doesn't believe the BS, it's going down, if it does believe it, more up.
- Rumors of a Covid vaccine. Same thing... they trot out a positive statement whenever they can to keep the market going.
- Jul 29, 2014
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Shhhhhssss
I need people to keep calm and keep borrowing for a couple more years...
- Jul 15, 2014
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OK, so Trump spoke and markets are closed, let's recap the days events from my post this morning...
Tangible:
- Oil rallied yuge after Trump spoke about China and markets rallied from down to basically a flat close, this is "good".
- 10yr sagged after Trump spoke about China, this is "not good" and reflects on his comments.
- Well, he pretty much admitted today that there was no, and will be no, trade deal with China any time soon. Might as well admit it and push "America First!" which is what he did. Today was a big finger in China's eye, especially about Hong Kong. Asymmetrical war with China ramping up.
- No rumors of a Covid vaccine today... this is normal as they usually rotate each week between "China deal is coming!" with "vaccine trial looks promising!"
- Nov 19, 2014
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No disagreement @Detroitgator with most of your views, but I must say the idea of true price discovery is all but gone in almost every asset class, and that includes real estate. Maybe used cars have it as the market is and will be flooded with rental car clunkers for a while. The phrase of the week was of course "yield curve control" and the talking heads tried to spin it as nothing more than forward guidance. I beg to differ; Guidance is a projection whereas "yield curve control" signals pretty hard targets either on the up or down side and they are saying certain rates for certain maturiities will be capped! So every time I hear those that can make a reasonable argument for inflation in the somewhat forseeable future, I just look up at a 10yr at 65 basis points and a 30yr at 1.50ish or whatever and I say well the bond market completely sees ZERO inflation.
The China thing would normally make oil sink and markets tumble, but since there was nothing specific, they read that as safe to go back into the pool. I think the entire China charade is set up for tough talk then as the election nears, the happy talk will start that China is complying or cooperating on the Kung Flu and other things and all will be good. Now that will change if Prez Tweeter wins b/c h won;t give a flying frick, but until then I am with you that you have to be in the long side whether you think it is raging or not. But as I suspected the dash for trash and bank BS hit the wall again and it was back to the same 5 or 10. But also I want to point out that utilities had two positve days in a row and utilities being strong are not a sign of a raging economy. And you can't say it is just for juicy dividends. Rates are still painfully low and utilities were not exactly going up, but the last 2 days has been different
The China thing would normally make oil sink and markets tumble, but since there was nothing specific, they read that as safe to go back into the pool. I think the entire China charade is set up for tough talk then as the election nears, the happy talk will start that China is complying or cooperating on the Kung Flu and other things and all will be good. Now that will change if Prez Tweeter wins b/c h won;t give a flying frick, but until then I am with you that you have to be in the long side whether you think it is raging or not. But as I suspected the dash for trash and bank BS hit the wall again and it was back to the same 5 or 10. But also I want to point out that utilities had two positve days in a row and utilities being strong are not a sign of a raging economy. And you can't say it is just for juicy dividends. Rates are still painfully low and utilities were not exactly going up, but the last 2 days has been different
- Nov 19, 2014
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Long rates ticking up and curve steepens which should continue to help banks. Brent Crude goes above 40/barrel tonite. Select industrial and so called value stocks have been ripping for 1 week to 1 month. Not sure how much of it is real and how much is fake, but the market is way way ahead of the economy. But the market is not the economy and vice versa. Might start having to raise some cash as many of these shyt stocks are overbought, but that does not mean they can't go higher.
- Jul 15, 2014
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Your first sentence is the key... other than that (and including oil price actually), we are in a time of maximum distortion... no reason to fight it.
