Black Monday...

Discussion in 'Trading' started by scriabinop23, Apr 12, 2008.


  1. Your assumptions and under estimating others is the only recipe that makes you keep your head above waters. You don’t know what I do. If you read my posts you should get a good idea how strongly I know this business and what kind of job I am involved in. I am not your average scalper/ daytrader, thats for sure.
     
    #21     Apr 13, 2008



  2. Complete pessimism and negative sentiments in this opening post. What else can you offer us besides this?
     
    #22     Apr 13, 2008
  3. I tried to be positive, I really tried, but everywhere I looked was more bad news.

    Im sorry. Thats all I have right now. Check back in a few months and we'll see.

     
    #23     Apr 13, 2008
  4. slacker

    slacker

    Ok, positive stuff....
    It looks to me as if the G7 did meet to discuss the current state of the dollar. This is good. And they all agreed that the state was very weak. But not weak enough to take any action, bold or otherwise.

    That's positive right? If the dollar was in real bad shape they would have done something of course.... (It could also mean that interventions are not doing anything for anybody except increasing the debt...)

    Just a few hours and we will see if the rest of the world thinks it is positive.:)
     
    #24     Apr 13, 2008
  5. and the negative news.


    http://www.bloomberg.com/apps/news?pid=20601087&sid=aRoXWi5Su464&refer=home

    Finance Ministers Seek Global Response to Surging Food Prices

    By Christopher Swann and Guillermo Parra-Bernal

    April 13 (Bloomberg) -- Finance ministers from around the world warned that surging food costs threaten to reverse progress on poverty reduction and backed World Bank calls for more funds to fight hunger.

    Soaring food prices and seizure in credit markets topped the agenda at this weekend's meeting of the International Monetary Fund and World Bank. Policy makers gathering in Washington said the rising threat of hunger demanded a global response and sought to fill the $500 million gap identified by the United Nations World Food Program.

    ``We need a common effort to attenuate the immediate undersupply due to rising prices,'' German Economy Minister Heidemarie Wieczorek-Zeul said. ``For every percentage increase in food prices, an additional 16 million people are threatened with hunger.''
     
    #25     Apr 13, 2008
  6. Paulson has a cheek. He asks that developing nations not apply price controls....but what the hell are subsidies and bailouts in the US?

    http://www.bloomberg.com/apps/news?pid=20601087&sid=avZSJ.UAchew&refer=home

    Paulson Says Developing Countries Should Avoid Price Controls

    By John Brinsley

    April 13 (Bloomberg) -- U.S. Treasury Secretary Henry Paulson advised developing nations struggling with soaring commodity costs against using price controls because they may do more harm than good to long-term economic growth.

    Governments ``need to resist the temptation of price controls and consumption subsidies that are generally not effective and efficient methods of protecting vulnerable groups,'' Paulson said in the text of a speech to the World Bank's development committee in Washington.

    Record prices for commodities from crude oil to rice are causing food shortages and political unrest in poor countries and increasing concern elsewhere about inflation. Paulson said improvements in agriculture and energy conservation are better policies to pursue than government-imposed measures to contain prices, which he said may exacerbate problems.
     
    #26     Apr 13, 2008
  7. Ok a positive. Savings bonds yielding 4+% a year with deferred tax treatment looking mighty tasty right now for you longs. MMMMMMMMMM MMMMMM Get a chunk right now. That might be the only thing that will save your mighty dollar. hopefully....
     
    #27     Apr 13, 2008
  8. You definately are not a hedgefund trader trust me I worked with some of the biggest while in London. You remind me of that idiot stocktrader another permalong fool which certainly has nothing to do with hedgefund trading
     
    #28     Apr 13, 2008
  9. Good job Black Monday fans. Futures jamming down nice for you and steady.

    Guess I should of stayed short the index. I'm long and wrong into Monday. I'm the dumb money it turns out this time.
     
    #29     Apr 13, 2008
  10. spersky

    spersky

    Pump,

    You held ES longs over the weekend? I am not sure how low we will open monday. But I expect some more downward pressure. I do not think it will be like Black Monday though.
     
    #30     Apr 13, 2008