Move over Nick Leeson … here comes Jérôme Kerviel
4.9bln Euro loss on Futures … obviously a lot of futures. Even if you assume a close to impossible loss of 1.000 points per contract, it must have been 200.000 FDAX or even 500.000 FESX futures … A lot for a “small position trader”.
So it […]

It could be so “easy” …
We understand, that the FED is fighting to keep the air in the stock market. Because the economy might not be able to withstand the double whammy HOUSING and EQUITIES down the drain.
If I get the Barron’s story on MBIA right (pls. read here) , the problem could be payable […]

Ben Be(a)rnanke should change his name in BULLnanke
Markets sell off, interest rate cut Markets don’t go up? PPT acts.
Another proof, that the situation is highly WORRYING as the professor who always said, he would let the numbers decide and not listen to the voice of the markets, CUTS again!!!
The second(!) time between […]

An equity market meltdown has started. Global unwinding of derivative positions. As this has nothing to do with trading under normal conditions as market becomes extremly thin and volatile, I refrain from trading for my blog until the dust settles.
Be aware today … as the S&P is locked limit down, further selling has to […]

Even the European equity markets give up today, selling off around 7% (!!!) on an US holiday … wow
We were not able to go that low last year on very bad news and more uncertainty, now … seemingly ready to have a bounce after 3 down weeks to get the year started, the market jumps […]

As Tradestation has no live data for Eurex, no trading and no updates today.
It is not the first time, Tradestation thinks, if the U.S. is away, the planet stands still
Annoying!

As I am a trader, I am always interested in both sides, the bullish and the bearish.
Funny and interestingly enough, sometimes the bleakest outlook creates the best (buying) opportunities.
Today afternoon, I read the title story of tomorrow’s edition of BARRON’S … not really known to the world as a bullish subjective magazine
Here are […]

Bond insurer ACA’s rating was slashed by S&P from A to CCC in December, but they gave them a lifeline, which expired Friday. If the CCC rating now becomes effective, it will create the next round of write offs at financials.
Friday now, Fitch cut Ambac’s rating from AAA to AA. Moody’s warned last Wednesday, that […]