Thursday, January 31, 2008

What's a $34 billion loss on Wall Street? For some, a ticket to a new job

Under the stewardship of Dow Kim and Thomas Maheras, Merrill Lynch and Citigroup built positions in subprime-related securities that led to $34 billion in write-downs last year. The debacle cost chief executives their jobs and brought two of the world's premier financial institutions to their knees.

In any other industry, Kim and Maheras would be pariahs. But in the looking-glass world of Wall Street, they — and others like them — are hot properties. The two executives are well on their way to reviving their careers.


1-31-08 Vice Stocks

How will Julie and her friends make it through the recession? Sex, guns, booze, and gambling.

Tuesday, January 29, 2008

Stocks rally on rate cut hopes

Jan 28 - US stocks rallied more than one percent, despite a sell-off in Europe and Asia, as a weak housing report lifted hopes the Federal Reserve will cut rates on Wednesday.

1-29-08 Shanda Interactive Entertainment Ltd. (SNDA)

Never heard of Shanda Interactive Entertainment Ltd. (SNDA)? What are you, a newb?

Saturday, January 26, 2008

Rick Santelli Takes Down "MarketGuru" Jim Cramer :-)

Maybe, just maybe, the single coolest thing I've ever seen on CNBC. Rick Santelli heard just about enough of Jim's lies today (Tuesday, January 22, 2008). So, he called ol' Jimbo out. What a glorious moment!
The first time a CNBC-ite challenged their King. (No disrepect to you, Mr. Santelli, but Jim Cramer was crowned, King Shill the First in 2005.)
The really neat thing is this: Although Jim got all huffy and tough sounding, and said how "bearish" he had been (you'll see what I mean), I added some cute video clips that show that Rick Santelli was right: Jim was pounding people into stocks all last year. And, I do mean ALL. Enjoy!

Video from "donharrold"

Setups for Selling Stocks Short

When I short stocks, I look for longer term trends, not short term swing trades (rarely ever day trades). The shorts I want look like the charts in this post (they take months or even years to complete).
I want the high flyers that will be crushed over the next several months. Just as I like riding trends higher, I like riding trends lower over the intermediate to long term (4-12 months).
I am trend trader at heart and it is what I do best.


Grantham Says Shun Stocks, Shift to Cash Amid Crisis

Jan. 23 (Bloomberg) -- Jeremy Grantham, the money manager who oversees $157 billion as chairman of Grantham, Mayo, Van Otterloo & Co. LLC, said investors should shun stocks and hold cash during the worst financial crisis in more than 60 years.

``Don't be a hero,'' Grantham, 69, said today in an interview from his office in Boston. ``Move to cash and let the other guys fish around for the bargains in the wreckage.'


A bad market? You ain't seen nothin'

A worldwide decline may be harsher, longer and deeper than expected. Here's why financials may soon be in even more trouble

In reality, however, the skirmishes we've seen so far might be little more than a prelude to a deeper, harsher, longer decline than most yet perceive possible. And in a very postmodern twist, it is beginning to look like unexpected consequences of an investment instrument designed to mitigate risk could turn out to be the nuclear option that bombs the globe into the financial equivalent of World War III.


Another Destroyed Trading Account :-((

One word- Lack of Risk Control !!

Total Net -$62,146.88

Net -$45,794.88 Swing
Net -$16,352.00 Long term

I sold all my swings today, they just kept getting worse. I also cleared out my long term account, I think I will close that account. Knowing my luck, I am pretty sure I marked the exact bottom. I am 100% flat now and learned my lesson.


Rogue trader to cost SocGen $7bn

French bank Societe Generale says it has uncovered "massive" fraud by a Paris-based trader which resulted in a loss of 4.9bn euros ($7.1bn; £3.7bn).

The bank said the fraud was based on simple transactions, but concealed by "sophisticated and varied techniques".

While Societe Generale has yet to name the trader, media reports say he is 31-year-old Frenchman Jerome Kerviel.


Of Turtles and Swans...

Nassim Nicholas Taleb tells us that we humans constantly underestimate the likelihood of rare events.
He also reminds us that we cannot conclude an event is impossible just because we have not yet observed it. Taleb calls this the "black swan" problem.

The "Turtle Traders" were a group of traders hired by legendary trader Richard Dennis to prove that anyone could be taught the discipline of trading, particularly trend-following.
One of Dennis's key trend-following premises is that trends tend to persist longer than anyone expects.


Recession ...anyone ?

Question by DreamTai user Scott:
What is your take on market going into recession mode. Is it best to be into funds such as QID?

Dear Sir,
No one knows the answer to that question. Neither big institutions nor hedge funds nor the so called "experts". ( Otherwise, they would not have lost billions gambling in the sub prime mortgage sector :-))

Here we just use DreamTai, see the charts and interpret the buy sell signals and make profit from the signals ( or sometimes make loss within our risk control parameters).

Have a look at the Dow Jones Index below. DreamTai gave a SHORT signal right on Jan 1. Since then, it has just been downhill for the index.

As long as the index is below the red line and the blue line, it is in a downtrend.

Similarly, Apple Computers is also in a downtrend.

Google (the darling stock of the masses ) is also in a downtrend.

The stock you suggested QID is actually an ETF called UltraShort QQQ ProShares.

DreamTai shows it as a buy with an Uptrend.

Similarly, DOG (Short Dow30 ProShares) is a BUY

So, just follow the trend and get off it as soon as it changes !!

Friday, January 25, 2008

Stocks pull plug on 2-day rally

Jan. 25 - U.S. stocks fell on Friday as enthusiasm about avoiding a US recession began to wane. Financial stocks were on the front end of sagging stocks.
The Dow dropped 171.44 points, closing at 12,207.17.
The S&P 500 shed 21.46 points, closing at 1,330.61.
The Nasdaq fell 34.72 points, finishing at 2,326.20.

Diane King reports from New York.

Mystery figure on Mars

Jan. 24 - An image from Mars taken by NASA's Sprint Rover shows an image that resembles a figure walking among the planet's rocks. A magnified version of the image has been posted on the internet. Bloggers have been debating whether the image points to evidence of alien life on the red planet.
Pavithra George reports.

Economy key for Ohio voters

Jan. 24 - Voters in the key battleground state of Ohio say the number one issue when they go to the polls will be the economy. As Washington debates how best to stimulate the U.S. economy voters in the key election battleground state of Ohio are already saying the economy will be the number one issue when they go to the polls. They say the party best able to come up with a solution could carry the state in the 2008 election.

Wall Street applauds econ plan

Jan. 24 - The Dow posted a triple digit gain after a new tax rebate plan was unveiled. The $150 million economic stimulus plan will give 117 million US families rebates. Lawmakers vowed to take further action if needed. Bobbi Rebell reports.

Thursday, January 24, 2008

1-24-08 Market Crash

I scream, you scream, we all scream when the Market Crashes!

Timeline: Subprime crisis

Jan 23 - What began as a US housing problem mushroomed into a crisis that shook stock markets around the world.The global nature of this week's stock market plunge debunks the theory that foreign investors are immune because the U.S. economy is "decoupled" from Europe and Asia. Quite the contrary, says Goldman Sachs International vice chairman Robert Hormats: "It's a recoupling of sorts." Reuters Finance

Wednesday, January 23, 2008

Young and Impatient in India

Workers raised in an age of economic optimism want it all, and they want it now

Ravikiran's parents took the safe route. In post-colonial India, even though they had college degrees, they chose low-paying but secure government jobs.
Today, they live with their three sons in a modest concrete house in a working-class section of Bangalore. While colorful paintings of Hindu gods adorn their walls, the furniture is mostly plastic chairs and steel cots.

For Ravikiran M.S., their eldest son, security and stability simply aren't enough. The 24-year-old programmer is brimming with ambition.
He rides a motorbike to work and hopes to buy a car. And he expects quick promotions, dreaming of becoming a CEO. "I want the posh life," he declares.


1-23-08 Spark Networks, Inc. (LOV)

Julie is looking for LOV in all the online places. Spark Networks, Inc. (LOV).

Wall St. off lows after Fed cut

Jan. 22 - US stocks fell steeply on Tuesday but regained most of the lost ground amid optimism over a surprise interest rate cut by the Federal Reserve. The Dow closed down 128 points to 11,971. The S&P 500 index lost 14 points to 1,310. The Nasdaq saw a 47 point decline to 2,292.Reuters Video

Fed cut helps ease global sell-off

Jan 22 - An intense global sell-off which began in Asia and Europe loosened some of its grip on Wall Street after a surprise steep rate cut by the Federal Reserve.
Reuters Video

Tuesday, January 22, 2008

How to Make a Million

Strategies for saving at every age.

The road to $1 million starts early, but there's hope, and help, for late bloomers.

Choose your age category below to see how much you need to save each month to accumulate $1 million by age 65. You'll also find strategies to fit retirement saving into the rest of your life.

At age 25, you're starting from scratch. At ages 35, 45 and 55, we assume you already have money in savings on which you're earning 8% annually. Even if you can't save quite this much now, our step-by-step guide will help you set priorities for every stage of life.


1960s Wall Street commercial

1960s commercial for Shearson, Hammill. Some great vintage New York footage.

The stock market ruined my life!!



For the record I went long 10 ER2 contracts into the close on Friday. With the intention of holding until market open on Tuesday.........Bad Choice,,,,Clearly.....I don't know why my broker hasn't liquidated my position yet........ This may be the end,,,,,


Trader Made Billions on Subprime

On Wall Street, the losers in the collapse of the housing market are legion. The biggest winner looks to be John Paulson, a little-known hedge fund manager who smelled trouble two years ago.

Funds he runs were up $15 billion in 2007 on a spectacularly successful bet against the housing market. Mr. Paulson has reaped an estimated $3 billion to $4 billion for himself -- believed to be the largest one-year payday in Wall Street history.


1-22-08 Wallstrip: Interactive Brokers Group, Inc. (IBKR)

Don’t be a joker. Be an Interactive Brokers Group, Inc. broker. (IBKR)

Friday, January 18, 2008

Campaign focuses on economy

Jan. 18 - The slowdown in the U.S. economy has become a major issue for candidates in both parties in the 2008 presidential campaign. Some analysts say this renewed focus on the possibility of an economic downturn may benefit the campaign of Mitt Romney. Of the three leading Democrats, the economy as an issue could be a strong suit for Hillary Clinton. Jon Decker reports.REUTERS VIDEO

Bush unveils billion dollar resuce plan

Jan. 18 - President Bush unveiled a $140 billion stimulus package of tax cuts and other measures to shore up the fragile U.S. economy. While there is a political consensus that the economy needs help, there are still questions whether consensus will translate into policy. Deborah Lutterbeck reports. REUTERS VIDEO

Stocks fall as Bush disappoints

Jan. 18 - U.S. stocks reversed gains to close lower after scant details of a White House economic stimulus plan failed to ease recession concerns. The Dow lost just under 60 points to 12,099. The S&P 500 lost 8 points to 1,325. The Nasdaq gave up 6 points to 2,340.

Conway Gittens reports from New York. REUTERS VIDEO

Bush unveils stimulus plan

Jan. 18 - Bush is calling for a package of tax cuts and other measures totaling around $140 billion to shore up U.S. economy. Amid bleak reports on retail sales and other data suggesting a possible recession, Bush and the Democratic-led Congress are negotiating to see if they can reach common ground on a plan to shore up growth. Deborah Lutterbeck reports. Reuters Video

Robo-One 9: Robot Competition - LAYERED-X

One of the most surprising robots that appeared at the 9th Robo-One competition held here in Tokyo on March 18-19th, 2006, was LAYERED-X developed by Asurada.

Its unique design allows it to reconfigure and transform itself into some amazing shapes.

At first it looks like a short tower, then becomes a carousel, then a walking spider, then into a tall biped battle robot. It can even transform an arm into a new leg and keep on fighting. Really amazing.

For the latest robot news, information, hacks, photos, and videos with special on-site coverage from Japan, see Robots Dreams at

Mortgage rates drop

Jan. 17 - There may be some relief for home owners who can refinance, but the housing market remains weak. Mortgage rates dropped to their lowest rate in 2 years. While this may allow some borrowers to trade their adjustable rate mortgages for fixed rate loans, many who are most in need of relief will not be able to refinance.

Bobbi Rebell reports. Reuters Video

Recession fears strike again

Jan. 17 - US stocks were slammed after a $10 billion loss at Merrill Lynch added to recession jitters. The Dow slumped 306 points to 12,159. The S&P 500 shed 39 points to 1,333. The Nasdaq tumbled 47 points to 2,346. Crude oil fell to settle near $90 a barrel.

Conway Gittens reports from New York.Reuters Video

Merrill takes $14bln hit

Jan. 17 - Wall Street firm Merrill Lynch posted the biggest quarterly loss in its history after a $14.1 billion write-down tied to risky subprime loans. Merrill's massive write-down was in an expected range and topped the $10 billion write-down seen at Citigroup two-days earlier.

Conway Gittens reports from New York Reuters Video

Thursday, January 17, 2008

Oil prices fall under $91/barrel

an 16 - A US government report showed oil supplies were up more than expected, sending the price for a barrel oil back down to about $90.The news came the same day as a report on consumer inflation showed a big increase largely because of higher energy prices. Bobbi Rebell reports.REUTERS VIDEO

Techs, energy lead Wall St. lower

Jan 16 - Weak tech stocks led the Nasdaq to a near one-percent decline and the S&P 500 to its lowest close since November 2006.The Dow shed 34 points to 12,466. The S&P 500 lost 7 points to 1,373. The Nasdaq tumbled 23points to 2,394. Crude oil prices fell.

Conway Gittens reports from New York REUTERS VIDEO

Monkey makes robot walk

Jan 16 - A monkey's impulses in the U.S. are sent to a robot in Japan, enabling the robot to walk.Researchers hope their discovery will someday help paralyzed people to walk with the aid of a robotic device. REUTERS VIDEO

Wednesday, January 16, 2008

FDA approves cloned food

Jan. 15 - The U.S. Food and Drug Administration has approved cloned beef, pigs and goats for human consumption. Cloning advocates expect it will be the offspring of cloned animals, not the costly clones themselves, that will eventually provide meat or milk to U.S. consumers. Experts say it could take four or five years before cloned products reach American supermarkets. Lindsay Claiborn reports. REUTERS VIDEO

Blu-Ray makes gains in DVD war

Jan. 15 - The battle of the next generation DVD formats may finally be headed for a close. With Warner Brothers on its side, and competitor Toshiba slashing prices on its HD DVD players, Blu Ray maker Sony could be close to winning the battle of the next generation DVD players.
Bobbi Rebell reports.REUTERS VIDEO

Citi losses send stocks tumbling

Jan. 15 - U.S. stocks were slammed Tuesday after a record $10 billion loss at Citigroup and a surprise drop in December retail sales reignited recession talk. The Dow had its biggest point drop of the year with a 277 point fall to 12,501. The S&P 500 lost 35 points to 1,380. The Nasdaq was down 60 points to 2,417. Gold and oil prices moved lower.

Conway Gittens reports from New York.REUTERS VIDEO

Apple launches web movie rentals

Jan. 15 - At its annual MacWorld, Apple unveiled a new web movie rental service, along with a superslim laptop computer. Apple CEO Steve Jobs presented the new products at the company's annual MacWorld convention in San Francisco. Bobbi Rebell reports REUTERS VIDEO

1-16-08 New Oriental Education & Tech. Group Inc. (EDU)

Julie teach you long time. New Oriental Education & Tech. Group Inc EDU

Tuesday, January 15, 2008

Researchers grow heart in lab

an. 4 - US researchers have grown a beating heart in a laboratory from the cells of newborn rats.Researchers hope this will eventually lead to the ability to build organs.REUTERS VIDEO

Multinationals soar on IBM results

Jan. 14 - U.S. stocks sprinted higher after better-than-expected preliminary results from IBM soothed profit jitters for those doing U.S. companies doing businss overseas.The Dow climbed 171 points to 12,778. The S&P 500 rallied 15 points to 1,416. The Nasdaq rose 38 points to 2,478. Gold hit a record $910 an ounce.

Conway Gittens reports from New York. REUTERS VIDEO

Big 3 tout gains

Jan 14 - 2008 does not look like it's going to be a very good year for the U.S. auto industry. Making matters even worse for GM, Ford and Chrysler: Toyota -- now Number 2 in U.S. sales-- is ramping up production, introducing new models and aiming for Number 1. Jon Decker reports.Reuters Video

1-15-08 iShares MSCI Brazil Index (EWZ)

Brazil’s economy and our new host, Julie Alexandria, are en fuegos chicos! iShares MSCI Brazil Index (EWZ)

Monday, January 14, 2008

1-14-08 Open Text Corporation (OTEX)

Is OTEX the reason why today’s Wallstrip is so big? No. Open Text Corporation. (OTEX)

Sunday, January 13, 2008

Bank of America to buy Countrywide

Jan. 11 - Bank of America's plan to buy battered home lender Countrywide Financial could prevent the credit crisis from getting worse. The elimination of the possibility that Countrywide, America's largest independent home loan company, could go bankrupt and flood an already stressed market with more loans, "takes out a major point of uncertainty in the industry", one analyst told Reuters.

Conway Gittens reports from New York. REUTERS VIDEO

Wall St. ends on low note

Jan. 11 - U.S. stocks slumped on Friday after warnings from credit card companies added to the barrage of signals suggesting a U.S. economic recession. The Dow dropped 246 points to 12,606. The S&P 500 lost 19 points to 1,401. The Nasdaq fell 48 points to 2,439. Gold hit $900 an ounce.

Conway Gittens reports from New York. REUTERS VIDEO

Thursday, January 10, 2008

Countrywide talk lifts Wall Street

Jan. 10 - U.S. stocks enjoyed their strongest two-day rally of 2008 after reports Bank of America is in serious talks to buy Countrywide Financial. The Dow jumped 117 points to 12,853. The S&P 500 rose 11 points to 1,420. The Nasdaq gained 13 points to 2,488.

Conway Gittens reports from New York.Reuters Video

Bernanke hints at rate cut

Jan. 10 - Federal Reserve Chairman Bernanke hinted at rate cuts to come saying "additional policy easing may be necessary".
At an economic forum in Washington DC, Bernanke said that he was concerned about what he sees on the economic horizon, citing. higher oil prices, lower stock values and a falling housing market all weighing on consumer spending. Deborah Lutterbeck reports Reuters Video


IPO? Acquisition? Lindsay breaks it down for you. Ya DiGG?

Wednesday, January 09, 2008

Brokerages re-risk

Jan 9 - After a crushing year in 2007, Wall Street is starting out 2008 with a more risk averse approach.

Bear Stearns management shake-up is a reminder that all is not well on Wall Street.
Bobbi Rebell reports. REUTERS VIDEO

"Recession-proof" stocks lead rebound

Jan 9 - U.S. stocks rallied as investors bought so-called economically resilient stocks like Coca-Cola, Merck, and Altria Group after Goldman Sachs warned of a pending recession.

The Dow surged 146 points to 12,735. The S&P 500 rose 18 points to 1,409.

The Nasdaq ended an eight-day losing streak to rise to 2,474.

Gold prices moved closer towards $900 an ounce.REUTERS VIDEO

Black hole powers X-ray jets

Jan 9 - NASA has released new images of a super-massive black hole powering X-ray jets.Scientists think these jets are important vehicles for transporting energy away from the venter of the black hole and affect the rate of formation of new stars. REUTERS VIDEO

Thinner, bigger, wider at CES

Jan. 8 - The 2008 Consumer Electronics Show in Las Vegas shines an LED spotlight on the digital future. The trade show, which is enormous in size, is expected to draw up to 140,000 visitors "eye-balling" the latest and greatest in consumer electronics. Among the themes at the CES 2008 is the well though out idea of helping simplifying life in the digital age. John Russell reports.REUTERS VIDEO

Nasdaq set to snap losing streak

Jan. 8 - The Nasdaq stock index could finally end seven days of losses as a management shuffle lifted shares of Starbucks. The entire sector appeared to benefit from investors looking to by tech stocks on the cheap after the extended sell-off. Sentiment was also boosted by a housing report suggesting that market may be bouncing along the bottom. Bear Stearns traded higher on published reports its CEO will step down. Gold hit another lifetime high.REUTERS VIDEO

1-09-08 Global Cellular Market

Can you hear me now? Good, because today Lindsay talks about four global cellular companies. Vodafone Group Plc (VOD), Turkcell Iletisim Hizmetleri A.S. (TKC), Vimpel-Communications (VIP) and China Mobile Ltd. (CHL).

Tuesday, January 08, 2008

Oil pulls back but will it last?

Jan 7 - Just last week crude broke the $100 dollar barrier and had many speculating that oil would continue to trade at those levels. Goldman Sachs retains it's average forecast for oil to stay at 95 dollars a barrel.REUTERS VIDEO

Stocks turn in mixed performance

Jan. 7 - U.S. stocks turn in mixed results after a see-saw day, as investors safeguarded against threats to growth in the economy.The Dow added 27.31 points to finish at 12,827.49. The S&P 500 added 4.55 points, closing at 1416.18, and the Nasdaq shed 5.19 points to finish at 2,499.46. Diane King reports from New York REUTERS VIDEO

1-8-08 ILLUMINA, Inc. (ILMN)

Lindsay goes off her meds and unravels the genetic code of ILLUMINA (ILMN).

Monday, January 07, 2008

1-7-08, Inc.

Lindsay tries to reKindle your interest in Amazon., Inc. (AMZN)

Saturday, January 05, 2008

Dismal day on Wall Street

Jan. 4 - U.S. stocks suffered a major retreat after a weak jobs report and a rise in unemployment rate significantly stoked fears of recession. The Nasdaq had its biggest one-day point fall since September 17, 2001. The Dow tumbled 256 points to 12,800. The S&P 500 lost 35 points to 1,411. Crude oil and gold prices moved lower.

Speaker: Ethan Harris, chief U.S. economist, Lehman Brothers.

Conway G. Gittens reports from New York. Reuters Video

1-5-08 CME Group, Inc. (CME)

What’s the name of the financial exchange that’s taking over the world? Daaaaaaa Merc! CME Group, Inc. (CME)

Friday, January 04, 2008

Politics and a possible recession

Jan. 4 - Rising unemployment and inflation mean the U.S. presidential election may begin to revolve around cracks in the economy. So far candidates' populist rhetoric on the campaign trail doesn't appeal to Wall Street. Manoush Zomorodi reports. REUTERS VIDEO

$100 oil not painful - yet

Jan. 3 - Oil at $100 a barrel may not be as painful to the economy, some analysts said, unless oil heads even higher and stays there for a meaningful amount of time. Some oil analysts expecting prices to bounce between $90 and $120 this year, which could send retail gasoline prices to new records and destabilize what has been a resilient consumer.

SPEAKER: Ira Eckstein, president, Area International Trading.

Conway G. Gittens reports from New York. REUTERS VIDEO

Rally fizzles ahead of jobs report

Jan. 3 - U.S. stocks gave up most of their gains late in the session as investors turned cautious in anticipation of Friday's key labor report. The Dow rose 12 points to 13,056. The S&P 500 was unchanged at 1,447. The Nasdaq slipped 6 points to 2,602. Crude oil cracked $100, but finished lower. Gold hit a new record.

Conway G. Gittens reports from New York. REUTERS VIDEO

Wednesday, January 02, 2008

Oil hits $100, Dow drops

an 2 - Oil jumped past $100 a barrel on the first trading day of the year, sending stocks to a first trading day loss record.Violence in OPEC countries Nigeria and Algeria helped drive oil prices across the $100 mark, just a day ahead of a US government oil supply report. Bobbi Rebell reports.REUTERS VIDEO

Stocks suffer New Year's hangover

Jan 2 - Blue chips started 2008 with the worst first-day of the year point performance in history as oil prices touched $100 and data showed a contraction in the factory sector.The Dow tumbled 220 points to 13,043. The S&P 500 dropped 21 points to 1,447. The Nasdaq fell 42 points to 2,609. Bond prices moved swiftly higher. Crude oil settled just below $100 a barrel.

Conway G. Gittens reports from New York. REUTERS VIDEO