EliteTrader.com Forums

Anyone familiar with payday loans?

Tue, 09 Mar 2010 18:10:35 EST

TraderTactics in the Economics forum:

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What do payday loans do? I hear about getting them all the time and I have even checked out this site http://www.paydayone.com. Any response would be great.

CY Group platform was down all day today - Couldn't trade

Tue, 09 Mar 2010 16:21:27 EST

bigpapi in the Prop Firms forum:

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They said in their chatroom that half of their traders got their accounts frozen for one entire day so people couldn't place trades. Just something to be aware of for anyone considering opening an account there.

I missed the up move on the markets in the early morning so I lost some money.

CME's RFQ capability?

Tue, 09 Mar 2010 16:11:26 EST

heech in the Career Trader forum:

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Hi,

Is anyone out there familiar with the CME's RFQ capability for option trading? I'd like to dig into someone's brain a lil.

Thanks.

Mr Black exposed as a fraud

Tue, 09 Mar 2010 15:32:33 EST

klipsadat in the Career Trader forum:

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Quote from Trader666:
Gotcha!
That's NOT the post you made at 1:35. This is (below).
You called it a POSSIBLE short which is conveniently missing from the post at your link. Had your "trade" not worked out, you probably would have said you didn't take it.

Well well well.. the last Hershey devotee that claims to make money with SCT turns out to be a fake, fraud and chart cheat..
what a shocker

Free government money for underwater homeowners!

Tue, 09 Mar 2010 15:13:41 EST

DrPepper in the Economics forum:

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It is good that our government is so rich. They can solve any problem by printing and throwing more money at it. However, if they can bail out the banks, they may as well bail out the people who paid to bail out the banks. Unfortunately, some people are already predicting the plan will be exploited and not work:

http://www.nytimes.com/2010/03/08/business/08short.html

Brother can you spare a stock loan?

Tue, 09 Mar 2010 14:28:10 EST

stock777 in the Wall St. News forum:

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http://www.tradingmarkets.com/news/stock-alert/ms_enforcement-proceedings-sec-charges-former-stock-loan-trader-in-cash-kickback-scheme-834350.html

Seeking opinion from experienced traders

Tue, 09 Mar 2010 14:05:43 EST

Chikot in the Trading forum:

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Hello Guys!

I am a newbie in stocks trading. Started trading with prop firm slightly more than a month ago.
I have seen some progress but I see that I have problem to reach more consistent results. when i have winning days it is in $5-6 range. when i lose I lose $15-20.
I have not lost that much. $45 in last 7 days but I feel like I can do more but still as soon as I reach $5-6 and I continue trading I start losing.
What i noticed is that in most cases I have more winning trades but pick 1-2 ticks most of the time when they go for more pips but I do take 3-4 ticks stop losses and often up to 6-7 ticks. looks like the math is not working for me to get to my goal of $10 daily consistently.
Also, I noticed that losses start after 11:30.

I would be grateful to hear opinions of those who made it.
I am scalping.

Thank you

eSIGNAL RECOGNIZED AS TOP FINANCIAL SOFTWARE

Tue, 09 Mar 2010 13:58:28 EST

FaithTrader in the Announcements forum:

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eSIGNAL RECOGNIZED AS TOP FINANCIAL SOFTWARE BY NUMEROUS EXPERTS AND TRADE PUBLICATIONS

HAYWARD, Calif., March 9, 2010 eSignal, a division of Interactive Data Corporation (NYSE: IDC) and a leading provider of streaming, real-time financial market data, news, analytics and decision-support tools for professional and individual traders, today announced that it has received top accolades from multiple publications and industry associations, including honors from Technical Analysis of Stocks & Commodities, Trade2Win (T2W), TraderPlanet.com and the Web Marketing Association.

ÒeSignal continues to be recognized among the top financial information services providers, and I am pleased to say that the credit for our ongoing success goes to our outstanding team of designers, developers, and marketing and administrative personnel who are truly the brains and brawn behind these services, said Chuck Thompson, president of eSignal. ÒEach of the publications and organizations who have recognized our products are standards in the industry, and we are honored to receive these respected awards.

eSignal received a number of awards from Technical Analysis of Stocks & Commodities magazine, led by the top award in the Real-Time/Delayed Data category. Technical Analysis of Stocks & Commodities is a leading industry publication that serves professional and individual traders and investors in the U.S. eSignal was also a first runner-up in the End of Day Data, Software Over $1,000, and Software Under $500 categories, as well as a finalist in the Institutional Platform and Professional Platform categories.

eSignal�, Advanced GET� Edition also received accolades from Technical Analysis of Stocks & Commodities and was first runner-up in both the Trading Systems Futures and Trading Systems Stocks categories.

eSignal also received two gold medals from T2W in the 2009 Members Choice Awards, the highest honors from a leading online community Web site for active traders in the UK. For the third year in a row, eSignal received the gold in the Best Real-time Data Feed category, and eSignal, Advanced GET Edition received the gold in the Best A.I Software. In addition, eSignal and eSignal OnDemandSM received bronze awards in the Best Software for U.S. Intra-Day Traders and Best Software for U.S. EOD Traders, respectively.

Additionally, eSignal was the first place recipient in the Data category of the 2009 Superior Trading And Resource (STAR) Awards, sponsored by TraderPlanet.com, an interactive social-networking site for active traders and investors. eSignal.com, the website used to market its active trader services, also received the 2009 WebAward for Outstanding Website from the Web Marketing Association.

About Interactive Data Corporation:

Interactive Data Corporation (NYSE: IDC) is a leading global provider of financial market data, analytics and related solutions to financial institutions, active traders and individual investors. The Company's businesses supply real-time market data, time-sensitive pricing, evaluations and reference data for millions of securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial service and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management and valuation activities. Interactive Data, headquartered in Bedford, Mass., has approximately 2,400 employees in offices located throughout North America, Europe, Asia and Australia. Pearson plc (NYSE: PSO; LSE: PSON), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, is Interactive Data Corporation's majority stockholder.

For more information about Interactive Data Corporation and its businesses, please visit Interactive Datas newly launched, web site at www.interactivedata.com

About eSignal:

eSignal (www.eSignal.com), Interactive Data Corporations (NYSE: IDC) desktop solutions business, is a leading global provider of financial and business information to professional traders and active individual traders. Building on a legacy of 25 years of delivering time-sensitive financial information, eSignal provides streaming, real-time market data, news and analytics.

earn on storage cost

Tue, 09 Mar 2010 13:47:15 EST

trade4succes in the Energy Futures forum:

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Assume you had the possibility to 50% of the time manage to pick a winning trade, and the other 50% of the times a losing trade, for same profit/loss. All of the trades would be short, and in Energy futures, or any future in a commodity that would have a storage cost in the premium over spot. (future price theoretically is spot + interest rate + storage cost).

Would you be able to on average make money, as you would only short and you would earn all the storage costs, which vanish into thin air anyway?
(Of course sometimes you would lose big, I am assuming here you would have the possibility to make 50% good 50% losing trades, as when it comes to predicting the cash prices. I am also assuming interest rate is equal to the inflation pushing up the commodity).

What do you think?

Option Pricing Models

Tue, 09 Mar 2010 13:15:03 EST

stoic in the Options forum:

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I would like to hear from option traders that utilize option pricing models on just how important they feel dividends are in the calculation. From my own research, using option price models with the dividend and without on the same security produce differences of only a few pennies. The dividend seems to have a relatively minor impact on the option price. Only in the last few weeks before Ex-date does it seem to matter. At that time the dividend ex date and amount are known. This is one of the few known factors and as such would be easy to do in your head and be more a matter of timing depending on the strategy employed. What are your thought?

$3,000 Capital Loss Deduction after MTM election

Tue, 09 Mar 2010 13:05:39 EST

trtiger7 in the Trading forum:

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Hello all,
Last year I've requested to change to mark-to-market accounting.

This year it's going to be the first time I'm going to file according to MTM.

Last year I filed Schedule D as usual and I had some losses. Of course they are under the category "Short-term capital loss". In Mark-to-market every gain / loss is considered "ordinary income."

My question is can I still deduct $3,000 Capital Loss from the previous year in my mark-to-market tax filing for this year.

Thanks in advance, have a good day

Todays index trading a thing of beauty.

Tue, 09 Mar 2010 12:19:48 EST

ChkitOut in the Index Futures forum:

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Very odd.

Straight walk up and straight walk down. (so far)

Very very little whipsaw.

Every day should be like this

CMC - Takeover Rumers with Options Trading

Tue, 09 Mar 2010 12:15:04 EST

livevol_ophir in the Options forum:

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Details, trades, charts, skews, prices here:
http://livevol.blogspot.com/2010/03/cmc.html

CMC is trading 17.40 with IV30™ up 19%.

The company is often times a takeover rumor target. For the last blog I wrote about them you can go to the article.

Today the rumors have returned seemingly because of rumors surrounding a takeover for AKS - a peer. Oddly enough, AKS is relatively quiet today.

CMC has traded over 36,000 options in the first hour and a half on total daily average option volume of just 3,252. ~32,000 have been calls for a 7:1 call:put ratio. The largest trades have been purchases in the Mar 17.5 calls. The Stats Tab and Day's biggest trades snapshots are included (in the article).

The Options Tab (in the article) illustrates that the Mar 17.5 calls have traded less then OI (open interest). With relatively little effort you can verify that the existing OI is long - since the trades today are pre-dominantly long as well the OI will increase - these are opening trades. The Apr 20 calls are active as well. You can also see that Mar vol is the highest of all months even though earnings are in the Apr cycle (March 24 BMO - a vol event).

The Skew Tab snap for today is also included in the article. Notice a few things:
(1) The front month (red) is well above the other months.
(2) The front month has a reverse skew - i.e. the upside is bid.
(3) The other months have relatively flat skew.

To read why option skew exists and what "normal" skew is, you can go here: http://livevol.blogspot.com/2010/01/solarfun-solf-call-purchases-with.html

Skew Legend:
Red - Front month
Yellow - Second month
Green - Third month
Blue - Fourth month

Finally, the Charts Tab (6 months) is in the article. The top portion is the underlying, the bottom the vols. The yellow shaded area at the very bottom is the IV30™ vs. the HV20™ vol difference.

Note a couple of things:
(1) The IV30™ (red line) spike pushes it well above the HV20™ (blue line).
(2) At the very bottom you can see the option volume bars - several times, almost cyclically, there are high volume pre-dominant call buying days (tall green bars). Each is followed by small price increases but then ultimately a price retreat.

This is trade analysis, not a recommendation.

Details, trades, charts, skews, prices here:
http://livevol.blogspot.com/2010/03/cmc.html

Bill proposed to pull out of NAFTA

Tue, 09 Mar 2010 12:00:22 EST

Kassz007 in the Economics forum:

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http://news.ca.msn.com/top-stories/cbc-article.aspx?cp-documentid=23605231&pollId=p5b2588cc-85b2-4897-ad67-dcdcbcaace2d&vote=1&voteshowresults=1&pollcontent=1079687950&jsdisabled=false&polluid=63403742986&q1=c2

Reason cited is contributing to job losses in the USA...

Are you kidding me?! USA has lost how many jobs to China and India over the past decade or two? And they're concerned about NAFTA? What are your politicians doing down there?

Angle Group/Hawkeye - Legitimate?

Tue, 09 Mar 2010 11:48:22 EST

Gnomon in the Trading forum:

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Recently interviewed there. One of the partners mentioned that I would need to give them $5000 in order to start a program which would allegedly turn into a job. Is this place legitimate? I've seen other threads about them on this site but little solid information.