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Keyword: trading

Brevity: Headers | « Text »
  • Inside the brain of a trader: A biomarker for irrational exuberance

    07/07/2014 3:02:27 PM PDT · by WhiskeyX
    CNBC ^ | Monday, July 7, 2014 | Meg Tirrell
    Certain areas of the brain associated with reward and response to gut feelings have shown links to trading behavior and success, according to research published Monday in the journal Proceedings of the National Academy of Sciences. The study shows that activity in one area of the brain actually tracks price bubbles—and that higher earners get signals from a different area that are associated with selling before a price bubble peaks.
  • Barclays Latest To Exit Commodity Trading, Layoff Several Thousand Staff

    04/20/2014 4:28:28 PM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 04/20/2014 | Tyler Durden
    With JPMorgan and Deutsche Bank having exited the commodities business (and numerous other banks discussing it ahead of the Fed and regulators' decisions over banking rules of ownership), it appears a few short months of regulatory scrutiny is enough to warrant more broad-based cuts across bulge-bracket banks historically most manipulated and profitable business units. As The FT reports, Barclays, one of the world’s biggest commodities traders, is planning to exit large parts of its metals, agricultural and energy business in a move expected to be announced this week. This comes on the heels of Barclays shuttering its power-trading operations...
  • High-Frequency Trading: We Need More Data -- It is not clear how we should regulate it

    04/07/2014 6:58:39 AM PDT · by SeekAndFind · 26 replies
    National Review ^ | 04/07/2014 | James Pethokoukis
    Government shouldn’t rush to judgment on Wall Street’s high-speed traders. Granted, this whole business probably looks dodgy to Main Street’s 401(k) owners and stock pickers. Financial brainiacs are employing sophisticated computer programs called algorithmic robots to quickly scan financial data streams for subtle stock-market patterns. Trading, and lots of it, happens in a flash. The algobots see what big institutional investors are doing while they’re doing it. Every millisecond counts, which is why traders pay hundreds of millions of dollars a year to rent space for their computers in stock-exchange data centers. Half of daily U.S. trading volume is now...
  • CEOs Of Stock Exchanges Brawl On CNBC Over High Freq. Trading As NYSE Floor Traders Go Crazy

    04/01/2014 1:52:28 PM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 04/01/2014 | Julia La Roche
    Two CEOs of exchanges got in a nasty brawl on CNBC's "Power Lunch" over high-frequency trading.  William "Bill" O'Brien, the CEO of BATS, slammed Brad Katsuyama, the CEO and president of IEX, and author Michael Lewis.Katsuyama is the hero in Michael Lewis' new book, "Flash Boys." His firm, IEX, is an alternative exchange. "I've been shaking my head a lot quite frankly the last 36 hours ... Michael and Brad, shame on both of you," he said, adding that they've possibly scared "millions of investors in an effort to promote a business model."CNBC correspondent Bob Pisani asked Katsuyama if he thought the...
  • Margin Debt Hits All-Time High

    02/02/2014 12:46:29 PM PST · by Red in Blue PA · 16 replies
    In the month of December margin debt on the NYSE surged by over $20 Billion dollars hitting a new all-time high of $444.931 billion. The rise in leverage also sent investors net worth to a negative $149.358 billion which is also a record. This is shown in the chart below.
  • Who knows about trading penny stocks? A plea for help.

    01/12/2014 2:03:05 PM PST · by righttackle44 · 60 replies
    1/12/14 | Righttackle44
    Folks, I am a poor boy who would like to be helped and educated by someone who knows what they're doing--what they're talking about. I have been reading some, but there are a lot of basic things I don't yet understand. How much money would I need to start the whole shebang? Can you use online stock sites to purchase shares, or do you have to go through a broker? You get the picture. My friend said that me thinking about penny stock trading is like trusting Lou Costello or Jerry Lewis to assemble an H-bomb. I'm looking for advice,...
  • Jeff Flake hints: I’ll support expanded background checks in return for changes on Internet sales

    05/07/2013 11:05:35 AM PDT · by 2ndDivisionVet · 65 replies
    Hot Air ^ | May 7, 2013 | Allahpundit
    A week ago, he noted on his Facebook page that his poll numbers after voting no on Toomey/Manchin put him somewhere south of “pond scum.” Today, this. He won’t face the voters again for five and a half years, but he shares a home state with Gabby Giffords and Mark Kelly. They can hurt him by campaigning against him in 2018 more than they can anyone else in the Senate. No wonder he’s looking for ways to flip: Republican Sen. Jeff Flake told CNN he is willing to reverse his opposition to expanding background checks for guns if the Senate...
  • Daily investment & finance thread (5-1-13 edition)

    05/01/2013 4:58:32 AM PDT · by dennisw · 11 replies
    5-1-13
    Daily investment & finance thread (5-1-13 edition) ----  Freepers lets make some cash Trying to focus on the markets for today and each day and the economic news This is where you can impart some investment wisdom to your fellow freepers.  You can comlain about the big one that got away.  How Obama is out to wreck American capitalism.If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite economic blogs and precious metals blogs and sitesApmex.com is a solid place with good reputation to...
  • intrade.com ceases trading activity

    03/10/2013 3:49:28 PM PDT · by OL Hickory · 25 replies
    Intrade ^ | 03/10/2012 | The Board of Directors of Intrade the Prediction Market Limited
    With sincere regret we must inform you that due to circumstances recently discovered we must immediately cease trading activity on www.intrade.com.
  • Apple's Flash Dump In The Last Second Of Trading Caught On Tape

    01/25/2013 3:50:58 PM PST · by Nachum · 49 replies
    Zero Hedge ^ | 1/25/13 | Tyler Durden
    Sure, the retail "investors" are coming back into the "markets"... They are coming back in shifts. And just so they know what to expect, here is what happened to Apple stock in the last second of regular trading today, courtesy of Nanex. Unlike traditional flash crashes where the trade is an HFT error, or a few shares traded through the entire bid or offer stack, in this case it looks like a very premeditated unloading of some 800K shares (some $350 million worth) of AAPL in the last second, with the full knowledge it was shake the market. Why anyone...
  • ART CASHIN: Veteran Traders Have Noticed A Peculiar Pattern During The Final Hours Of Trading

    01/07/2013 11:59:18 AM PST · by blam · 17 replies
    TBI ^ | 1-7-2013 | Sam Ro
    ART CASHIN: Veteran Traders Have Noticed A Peculiar Pattern During The Final Hours Of Trading Sam RoJan. 7, 2013, 11:11 AM Stocks have started 2013 on a positive note, closing at a five-year high on Friday. So, are people feeling bullish? Art Cashin, UBS Financial Services Director of Floor Operations, is a tad skeptical. He points to some imbalances during end-of-day trading in this morning's "Cashin's Comments": Some On-Close Support For the “New Money” Thesis – As we have noted repeatedly during this New Year’s rally, several of us old fogeys believe most of the fuel for the move...
  • Mammoth mystery algorithm on Nasdaq: who and why?

    10/12/2012 10:31:54 PM PDT · by bruinbirdman · 15 replies
    France 24 ^ | 10/12/2012 | Sébastian SEIBT
    A single algorithm which placed and then cancelled orders on the Nasdaq accounted for 4% of all quoted traffic in the US with no clear goal. An investor gives FRANCE 24 his insight into the mystery which has concerned market watchers. A single mammoth mystery algorithm has set alarm bells ringing for market regulators and players, and underlined the market’s vulnerability to technology and the woeful lack of regulation on algorithms. A single algorithm last week placed and cancelled orders on the Nasdaq accounting for 4% of all quoted traffic in the US. Not only this, it also accounted for...
  • Knight Capital Plummets 58%, Looks to J.P. Morgan for Lifeline

    08/02/2012 7:02:55 AM PDT · by mykroar · 4 replies
    FoxBusiness.com ^ | 8/2/2012 | Matt Egan
    A day after spooking Wall Street with a massive trading glitch, Knight Capital Group (KCG: 6.94, -3.39, -32.82%) revealed a stunning $440 million pretax loss on Thursday tied to the incident, sending the embattled market maker’s shares plummeting another 58% and searching for an emergency loan from J.P. Morgan Chase (JPM: 36.00, 0.00, 0.00%). The turmoil has forced Knight Capital to reach out to J.P. Morgan for emergency financing aimed at shoring up the company’s depleted capital base, a source told FOX Business’s Charles Gasparino. Read more: http://www.foxbusiness.com/industries/2012/08/02/knight-capital-plummets-55-after-disclosing-huge-440m-pretax-loss/#ixzz22OhCrTQ8
  • JPMorgan shares slump 6.5pc after chief Jamie Dimon reveals $2bn trading loss

    05/10/2012 5:30:50 PM PDT · by bruinbirdman · 29 replies
    The Telegraph ^ | 5/10/2012 | Richard Blackden
    JPMorgan Chase chief executive Jamie Dimon has shocked Wall Street by disclosing the bank racked up $2bn (£1.2bn) of trading losses in the past six weeks and warned they could get worse. “It puts egg on our face and we deserve any criticism we get,” Mr Dimon told analysts in a hastily arranged call after stock markets closed in New York on Thursday night. America’s second-biggest bank said that the losses stemmed from a series of complex trades that were designed to hedge the bank's overall risk. Some of the losses have been offet by gains of about $1bn from...
  • JP Morgan $2B Trading Loss Roils Markets, Raises Fears About Bank Risks

    05/11/2012 6:25:08 AM PDT · by SeekAndFind · 16 replies
    ABC News ^ | 05/11/2012 | By BILL McGUIRE and SUSANNA KIM
    JP Morgan Chase & Co. is rocking the financial markets with the disclosure that its in-house trading operating lost $2 billion in the past six weeks, raising new questions about whether the big banks that caused the financial meltdown have sufficiently changed their ways. Chief Executive Officer Jamie Dimon said the trading loss was an "egregious" failure in a unit managing risks, but he added in a call with analysts after the markets closed Thursday that just because the bank did something "stupid" that doesn't mean other firms are having such trouble. "There were many errors, sloppiness and bad judgment,"...
  • Singapore Moves To Make Trading Safer After MF Global

    02/15/2012 10:37:33 PM PST · by Razzz42 · 5 replies
    Armstrong Economics ^ | February 14, 2012 | Martin Armstrong
    The United States has shown itself for what it really is – a cesspool of corruption. This MF Global debacle is so serious, that it truly threatens to destroy the United States as a fair and honest place to invest. With $1.6 billion now missing and Judge Martin Glenn protecting the NY Banking lot, real capital is turning elsewhere for security. Equities are rising and the commodity sector is floundering. Support in the Dow lies at 11650-11960 while resistance stands at 13500. The Dow has exceeded the 2011 high. Gold has been unable to exceed the December high. While much...
  • 10% Of Trades On The NYSE Involve A Single Notorious Company

    02/10/2012 10:53:20 AM PST · by SeekAndFind · 8 replies
    Business Insider ^ | 02/10/2012 | AP
    NEW YORK (AP) — On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear. It's Bank of America — bailed out by the government three years ago, reviled for being part of the mortgage frenzy that helped wreck the economy and selling for not much more than an ATM fee. When the market goes up because of positive news about the economy, Bank of America stock shoots up past the stocks of...
  • This is not the ban on insider trading that you were looking for

    02/09/2012 12:42:38 PM PST · by Starman417 · 3 replies
    Flopping Aces ^ | 02-09-12 | DrJohn
    Congress has a penchant for passing toothless legislation, especially as it affects them. The STOCK Act is no exception. STOCK stands for Stop Trading on Congressional Knowledge. There is enthusiasm for such a law. Fervor over insider trading on Capitol Hill reached a peak last fall following the airing of a "60 Minutes" segment questioning whether lawmakers including House Minority Leader Nancy Pelosi (D-CA) and Speaker John Boehner (R-OH) made investments based on their knowledge of legislative activity to which they would be privy. Pelosi and other lawmakers named in the piece disputed any allegation of impropriety, but a number...
  • ‘Throw Them All Out’ Author Lauds Insider-Trading Ban Move by Congress

    02/05/2012 8:02:54 AM PST · by Sprite518 · 22 replies
    The Daily Beast ^ | 2/3/2012 | Peter Schweizer
    The STOCK Act to ban insider trading by members of Congress has sailed through the Senate, 96-3, and many members of the U.S. Senate were no doubt kicking and screaming as they voted for it. Heck, some of the most prominent cosponsors were people that I identified in my book, Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, as having stock-trading activities that correlated nicely with their legislative work.
  • STOCK Act passes in the Senate

    Last Thursday, the US Senate passed the STOCK Act, legislation that would ban members of congress from insider trading. From CBS News: Members of Congress are already subject to insider trading laws. But it is currently within the law for a lawmaker to buy a company’s stock after learning, for example, that an upcoming bill will grant that company a large government contract. The ultimate fate of the STOCK (Stop Trading On Congressional Knowledge) Act, which comes in the wake of a “60 Minutes” story on potential congressional insider trading, remains unclear – though its prospects are relatively good. Passage...
  • VICTORY: Breitbart Editor’s Battle Against Insider Trading Forces President’s Hand

    01/25/2012 1:06:49 AM PST · by Jerome Hudson · 9 replies
    Big Government ^ | 01/25/2012 | Wynton Hall
    In a State of the Union speech devoid of clarity or specifics, President Barack Obama offered but one shining exception: a direct call for members of Congress to send him a bill to ban congressional insider trading.
  • Christian Bale roughed up in bid to visit Chinese activist

    12/18/2011 3:13:41 PM PST · by sinanju · 11 replies
    Rooters ^ | Friday, Dec 16 | Sui Lee-Wee, Robert Birsel
    "...Bale, who plays crime-fighting superhero Batman, and a camera crew from CNN were jostled by men in plainclothes in Dongshigu village in eastern Shandong province, where activist Chen Guangcheng has been under house arrest for 15 months, according to a video released by CNN on its website. "Why can I not visit this man?" Bale asked several security officers, while they were pushing him. "You know, I'm not being brave doing this," Bale told CNN. "The local people who are standing up to the authorities and insisting on going to visit Chen and his family and getting beaten up for...
  • Jail Cells for Corzine, Soros, Waters, Paulson, Frank, Pelosi, No One

    12/03/2011 5:19:21 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | December 3, 2011 | John Ransom
    Newt Gingrich made headlines in October because he suggested that Barney Frank and Chris Dodd should go to jail for authoring the so-called Dodd-Frank banking reforms. Taken together the “landmark” reforms look a lot like an Obama speech: very wordy, very partisan, but full of inaction, cross-purposes and the typical liberal confusion about economics, society and man. The legislation crafted by Dodd and Frank has reformed none of the systemic failures in our banking system, but it sure has made it harder for banks to loan money, or for you and me to buy a house. Much of the failure...
  • Investments of Pelosi and Boehner Questioned: Is Insider Trading Legal for Members of Congress?

    11/17/2011 11:34:35 AM PST · by Libloather · 25 replies · 1+ views
    IB Times ^ | 11/15/11
    Investments of Pelosi and Boehner Questioned: Is Insider Trading Legal for Members of Congress?By Bhaskar Prasad November 15, 2011 11:19 PM EST Both parties' House leaders, Speaker John Boehner, R-Ohio, and Minority Leader Nancy Pelosi, D-Calif., are among several lawmakers who profited from transactions that raised possible of conflicts of interest, according to a report on CBS' "60 Minutes." **SNIP** "Congress has never done more for consumers nor has the Congress passed more critical reforms of the credit card industry than under the speakership of Nancy Pelosi," Pelosi spokesman, Drew Hammill, said in a statement soon after the report aired...
  • Congress: Trading stock on inside information?

    11/13/2011 5:15:19 PM PST · by Morpheus2009 · 34 replies
    CBS News' 60 Minutes ^ | November 13, 2011 | Steve Kroft
    (CBS News) Washington, D.C. is a town that runs on inside information - but should our elected officials be able to use that information to pad their own pockets? As Steve Kroft reports, members of Congress and their aides have regular access to powerful political intelligence, and many have made well-timed stock market trades in the very industries they regulate. For now, the practice is perfectly legal, but some say it's time for the law to change.
  • Regulator: MF Global shifted millions last week (may have tried to avoid detection)

    11/02/2011 10:14:07 PM PDT · by NormsRevenge · 19 replies
    Yahoo ^ | 11/2/11 | Daniel Wagner - AP
    WASHINGTON (AP) -- MF Global, Jon Corzine's embattled securities firm, moved millions in missing client funds last week and tried to avoid detection, a regulator said Wednesday. MF apparently made "substantial transfers" of customer money after an on-site audit last week, said the regulator, CME Group Inc. CME is a private company that oversees firms such as MF Global on behalf of federal regulators. It also operates exchanges where MF Global traded investments. The money was moved in a way that "may have been designed to avoid detection," CME said in a statement. MF Global filed for bankruptcy protection Monday...
  • Europe's Debt Woes Pose Opportunities for China

    09/22/2011 5:59:48 PM PDT · by AfricanChristian · 2 replies
    Beijing officials reaffirmed China's commitment to the euro currency and the European economy as uncertainty grows over whether E.U. officials can quickly recover from their debt crisis. In a statement to reporters, Foreign Ministry spokesman Hong Lei said he hopes Europe has the ability and wisdom to overcome its debt crisis and ensure the safety of Chinese investments. Approximately 25 percent of China's huge $2.8 trillion foreign exchange reserves are invested in euro-dominated assets, making Beijing vulnerable if the currency declines. While some analysts say China must stay the course despite deepening crisis in member states such as Italy and...
  • US stocks fall sharply in early trading (DJIA -304)

    09/06/2011 7:50:35 AM PDT · by markomalley · 34 replies
    AP ^ | Sep 6 | DAVID K. RANDALL
    U.S. stocks are sharply lower in early trading. The Dow Jones industrial average dropped more than 260 points. All 30 stocks that make up the Dow average fell. The losses come after steep declines in European indexes. The Stoxx 600 Europe index fell 4.1 percent on Monday because of concerns that Europe's debt problems could slow growth around the world. The index fell another 1.4 percent Tuesday. The U.S. economy is also weak. A Tuesday report on the U.S. service sector is expected to show the fourth straight month of declining growth. It follows a jobs report Friday that that...
  • Bank of America Set to Slice Jobs: Many More Seen [BofA: Double-Dip Bellweather?]

    08/18/2011 9:42:37 PM PDT · by Steelfish · 10 replies
    Wall St J ^ | August 18, 2011 | DAN FITZPATRICK
    AUGUST 19, 2011 Bank of America Set to Slice Jobs Reductions Total 3,500 in Current Quarter; Many More Seen BY DAN FITZPATRICK Bank of America Corp. is cutting 3,500 jobs in the current quarter and working on a broader restructuring that could eliminate thousands of additional positions, people familiar with the situation said. The 3,500 positions are spread across the nation's largest bank by assets, including investment banking and trading, and the cuts are expected to be completed by the end of September. Some employees already have been notified. Thousands of additional reductions are expected as part of an aggressive...
  • Man Beheads Girlfriend in Front of Classmates at Indian University

    04/28/2011 1:13:52 PM PDT · by ThinkingBuddha · 58 replies · 1+ views
    Fox News ^ | 04/28/2011 | NewsCore
    RANCHI, India -- An engineering student was in police custody Thursday after allegedly slicing his girlfriend's head off with a ceremonial dagger in front of her classmates at an Indian university. Bijendra Kumar, 23, a diploma student at St. Xavier's College in Ranchi, in eastern India, allegedly beheaded his 18-year-old girlfriend, Khushbu, with a blade known as a "khukri" as she left the classroom with her friends. The Hindustan Times reported that Kumar was overpowered by students and security guards, beaten and then arrested by police after the attack Wednesday.
  • Carbon Trading Halted After Hack Of Exchange

    01/21/2011 2:04:08 PM PST · by HonkyTonkMan · 17 replies
    threatpost ^ | January 20, 2011 | Paul Roberts
    The European Commission (EC) suspended trading in carbon credits on Wednseday after unknown hackers compromised the accounts of Czech traders and siphoned off around $38 million, according to published reports. EU countries including Estonia, Austria, The Czech Republic, Poland and France began closing their carbon trading registries yesterday after learning that carbon allowances had been siphoned from the account of the Czech based register. A notice posted on the Web site of the Czech based registry said that it was "not accessible for technical reasons" on Thursday. The EC followed suit: issuing a statement on Wednesday evening saying that the...
  • Algorithms vs retail investors (fundamentals-based investors can't beat High Frequency Traders)

    01/11/2011 7:34:29 AM PST · by SeekAndFind · 3 replies
    Reuters ^ | 01/11/2011
    Anand Iyer, after reading the article I wrote in Wired with Jon Stokes, emails with a couple of questions: The age of analysing a company’s stats, looking at its balance sheets, researching the market the company operates in, and looking at the people running the company seems to be gone. It’s all bots (highly sophisticated ones) who operate the financial world. What I wanted to ask was would it make sense for a single person to be doing investing the good old fashioned way in this scenario (I do and I guess I will even if your answer tends to...
  • Make More Money by Not Trading at All (buy-and-hold investing vs active trading)

    01/11/2011 6:38:25 AM PST · by SeekAndFind · 2 replies
    Smart Money ^ | 01/11/2011 | Jonathan Hoenig
    It's now taken as gospel that buy-and-hold investing is dead. But on those rare occasions when an idea of mine is actually working, the best thing I can do is simply stay out of the way. Letting your winners run isn't a stock tip – it's a time-tested technique. But for most people, investing comes solely down to making transactions. They manage their portfolio like they shop at the Gap ( GPS ) : impulsively buying new outfits while absentmindedly tossing out the old. Making money is an afterthought. They just want to acquire something new.But it's not true that...
  • A Defense of High-Frequency Trading

    01/07/2011 6:38:16 AM PST · by SeekAndFind
    RealClearMarkets ^ | 01/07/2011 | Paul Hsieh
    Wired magazine and the New York Times both recently published detailed stories on "flash trading" - the increasing use of high speed artificial intelligence algorithms in the financial markets. Both asked the same question: Will flash trading help the markets by improving efficiency - or will it destroy them? But while both stories covered the same basic facts, they took strikingly different approaches. Wired discussed the technology in a generally balanced fashion, whereas the New York Times adopted a more alarmist attitude, including emphasizing the problems the technology would create for government regulators. However, the concerns raised by the Times...
  • If Al Gore’s Chicago Climate Exchange Suffers Total Failure, Does the MSM Make a Sound?

    11/06/2010 6:03:14 AM PDT · by Kaslin · 42 replies · 1+ views
    Pajamas Media ^ | November 6, 2010 | Steve Miloy
    The CCX was the topic of thousands of MSM articles over the years, but not a single article reported their recent demise. Hmmm. Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading — the only purpose for which it was founded — this year.Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub...
  • Maryland’s on Climate Change, created by Executive Order in 2007 (trading CO2 emission Dec 10)

    10/26/2010 1:19:31 PM PDT · by goldendays · 34 replies
    green.maryland.go ^ | 10/26/2010 | rggi.org
    Addressing Climate Change Maryland’s Commission on Climate Change, created by Executive Order in 2007, has concluded that our State would see significant economic and environmental benefits from taking early, immediate actions to reduce global warming pollution. With more than 3,000 miles of shoreline, Maryland is the fourth most vulnerable state in the nation to the effects of climate change and rising sea levels. Scientists worldwide agree that early carbon reductions of at least 25 percent are necessary to avoid the worst impacts of climate change. Welcome http://www.rggi.org/home Upcoming Auctions Auction 10 December 01, 2010 Auction 11 March 09, 2011 Auction...
  • Congressional Staffers (including a Harry Reid aide) Gain From Trading in Stocks

    10/11/2010 5:12:43 AM PDT · by reaganaut1 · 7 replies
    Wall Street Journal ^ | October 11, 2010 | BRODY MULLINS, TOM MCGINTY and JASON ZWEIG
    Chris Miller nearly doubled his $3,500 stock investment in a renewable-energy firm in 2008. It was a perfectly legal bet, but he's no ordinary investor. Mr. Miller is the top energy-policy adviser to Nevada Democrat and Senate Majority Leader Harry Reid, who helped pass legislation that wound up benefiting the firm. Jim Manley, a spokesman for Mr. Reid's office, initially defended Mr. Miller's purchase of shares in the company, Energy Conversion Devices Inc. He said the aide had no influence over tax incentives for renewable-energy firms, and that other factors boosted the stock. But on Sunday, Mr. Manley added: "Mr....
  • George Soros argues that he doesn’t understand insider trading

    09/16/2010 10:17:39 AM PDT · by Nachum · 19 replies
    Washington Examiner ^ | 9/16/10 | David Freddoso
    Today’s Financial Times discusses the reopening of left-wing billionaire George Soros’ 2002 conviction for insider trading: Mr Soros was found guilty of insider trading in 2002, allegations he has always denied, and received a fine of €2.2m – no more than his profits from the trades – which was reduced on appeal in 2007 to €940,507. He lodged a complaint against his conviction with the European Court of Human Rights in December 2006 and on Wednesday a chamber of seven judges decided that his application to have the case reviewed was at least partly admissible.
  • Scientific Proof That High Frequency Trading Induces Adverse Changes In Market ......

    07/13/2010 10:01:33 AM PDT · by Ernest_at_the_Beach · 47 replies · 1+ views
    Zerohedge ^ | 07/12/2010 23:46 -0500 | Tyler Durden
    Scientific Proof That High Frequency Trading Induces Adverse Changes In Market Microstructure And Dynamics, And Puts Market Fairness Under QuestionUp until recently, any debate between proponents and opponents of High Frequency Trading would typically be represented by heated debates of high conviction on either side, with discussions rapidly deteriorating into ad hominem attacks and the producer screaming 'cut to commercial' to prevent fistfights. Luckily, all this is about to change. In a research paper by Reginald Smith of the Bouchet Franklin Institute in Rochester titled "Is high-frequency trading inducing changes in market microstructure and dynamics?" the author finds that he...
  • Market Manipulation On Display

    07/04/2010 11:45:20 PM PDT · by verklaring · 27 replies
    Market Ticker ^ | Market Ticker | Karl Denninger
    Market Manipulation On Display "Rarely does it get this blatant..... this ...goes on every day, but once in a while it's just "in your face." Tonight was one of those examples."
  • Prices rise as New Zealand passes emissions trading scheme

    07/04/2010 8:22:43 PM PDT · by bruinbirdman · 11 replies
    The Telegraph ^ | 7/1/2010 | Paul Chapman
    Petrol and power prices have risen sharply in New Zealand after the government introduced a controversial emissions trading scheme. The government has pressed ahead with plans to slash the nation's carbon output, despite widespread opposition and New Zealand's larger neighbour Australia shelving its own scheme. Motorists were hit by a 3c (1.4p) rise in the price of a litre of petrol overnight, while householders face a 5 per cent increase in gas and electricity prices. It was the first step in a complex scheme, universally referred to as "the ETS", to slash carbon emissions back to 1990 levels. Some disgruntled...
  • Investigation: The business of high-frequency trading (Do they create danger for the stock market?)

    06/29/2010 8:51:20 AM PDT · by SeekAndFind · 4 replies · 1+ views
    Wired ^ | 2010 | Mark Buchanan
    In 2002, after 12 years at Bear Stearns, investment banker Adam Afshar came to the conclusion that, for all their supposed expertise, most Wall Street traders really weren't very good at predicting anything. "I got the sense from my time there," says Afshar, "that market analysts have little insight and generally provide very little value to their firms." So Afshar set out to find market opportunities in, as he puts it, "a more systematic way". The result was Hyde Park Global Investments, a small trading firm based in Atlanta, Georgia, that doesn't hire market analysts or portfolio managers. Instead, its...
  • Stop The Parasites : Why Computerized High Frequency Trading is a Net Drag on the Stock Market

    06/19/2010 1:24:22 PM PDT · by SeekAndFind · 14 replies · 505+ views
    Phoenix Capital Markets ^ | 06/18/2010 | Graham Summers
    Well, we had another flash Crash yesterday, just like the one on May 6, 2010. The only difference is, this time the stocks in question went up instead of down. In case you missed it, Washington Post’s stock went from $458 to $900 per share in the blink of an eye. All the orders at $900 were cancelled and the market authorities did the usual, “move along folks, nothing to see here,” bit. The culprits in both incidents (May 6 and yesterday) were High Frequency Trading Programs (HFTPs). The HFTP industry (and lobbying efforts), always defend their actions by stating...
  • Guess who holds patent for carbon trading plan

    06/18/2010 10:35:41 AM PDT · by day21221 · 23 replies · 1,063+ views
    wnd.com/ ^ | June 18, 2010 | Jerome R. Corsi
    Guess who holds patent for carbon trading plan Disgraced Fannie Mae CEO set to cash in for millions Obama housing adviser Franklin Raines Former Clinton and Obama budget adviser Franklin Raines owns a key carbon-emissions patent he developed as CEO of the government-sponsored mortgage giant Fannie Mae, positioning him and his partners to make millions of dollars if it is used in any carbon-capping scheme implemented by the Obama administration. Raines and his associates led Fannie Mae and Congress to believe Fannie Mae owned the patent, despite public records to the contrary, a WND investigation has found. Raines and his...
  • China carbon market prospects not optimistic (Mexican resort of Cancun)

    06/09/2010 1:56:08 PM PDT · by day21221 · 9 replies · 79+ views
    moneycontrol.com ^ | Mon, Jun 07, 2010 | Reuters
    China carbon market prospects not optimistic Although China has supplied massive volumes of carbon credits to the global market, prospects for CO2 trade within the country itself are not optimistic, a senior climate official said on Sunday. Lu Xuedu, influential vice-head of China's National Climate Centre and former member of the United Nations Executive Board responsible for approving clean development mechanism (CDM) projects, told a conference in Beijing that carbon transaction volumes within China were likely to remain low. "The domestic market will probably remain small, because you just need to ask the simple question -- Who will buy emissions...
  • Rep. James Moran's investments illustrate Congress's leeway in trading

    05/25/2010 7:27:34 AM PDT · by Palter · 4 replies · 256+ views
    The Washington Post ^ | 25 May 2010 | Robert O'Harrow Jr. and Dan Keating
    He was a stockbroker before he became a politician, and he continued playing the markets during his rise through Congress. Rep. James P. Moran Jr. (D-Va.), a member of the powerful House Appropriations Committee, brought a swagger to both endeavors, sometimes winning big, sometimes losing big. At times, his investing became so busy it verged on what later came to be known as day trading. Moran's dual focus illustrates the latitude that every lawmaker has under congressional rules to invest largely as each chooses, a much less regulated approach than what Congress has required for other government officials and private-sector...
  • Speedy New Traders Make Waves Far From Wall St. [HFT]

    05/18/2010 12:53:47 PM PDT · by CutePuppy · 22 replies · 766+ views
    CNBC / NYTimes blog ^ | May 17, 2010 | Julie Creswell
    Above the Restoration Hardware in this Jersey Shore town, not far from the Navesink River, lurks a Wall Street giant. Here, inside the humdrum offices of a tiny trading firm called Tradeworx, workers in their 20s and 30s in jeans and T-shirts quietly tend high-speed computers that typically buy and sell 80 million shares a day. But on the afternoon of May 6, as the stock market began to plunge in the “flash crash,” someone here walked up to one of those computers and typed the command HF STOP: sell everything, and shutdown.Across the country, several of Tradeworx’s counterparts did...
  • Feds trace flash crash to Chicago

    05/07/2010 6:02:41 PM PDT · by Nachum · 77 replies · 2,504+ views
    politico ^ | 5/7/10 | EAMON JAVERS
    Federal investigators probing the “flash crash” that briefly sliced nearly 1,000 points off the Dow Thursday are zeroing in on a series of “unusually high-volume” trades in S&P futures that originated in Chicago, a government official told POLITICO. Those trades set off a chain reaction of trades that caused the biggest drop within a single day in the Dow Jones Industrial Average’s storied history.
  • So, Was There A Glitch In Yen Trading Too?

    05/06/2010 9:06:06 PM PDT · by blam · 16 replies · 1,252+ views
    The Business Insider ^ | 5-6-2010 | Joe Weisenthal
    So, Was There A Glitch In Yen Trading Too? Joe Weisenthal May. 6, 2010, 11:15 PM This chart of the yen is simply unbelievable. From FinViz:[snip]
  • Obama Ties To Multi Trillion Dollar Carbon Trading Scams, Goldman Sachs, The Joyce Foundation

    05/01/2010 8:17:14 PM PDT · by justme346 · 22 replies · 712+ views
    The Right News ^ | 5/01/10 | Unknown
    Even if you don't like Glenn Beck, you must watch these videos. This story blew my mind. I can't believe this isn't the headlines on every news channel. We're screwed if folks don't get mad as hell about this story. Are we American's so blind or are we all feeling hopeless to do anything. Click link to view videos.