Dow 2008

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jonnyy40 said:
Was anyone here trading in the last Bear Market?Looking at the charts you can see the range was great but you must have made some serious easy money?
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I was but I wouldnt say it was easy money far from it you have to consider with larger range comes larger margin, larger spread, lower size and widder stops it was easy to make 40 points scalp but even easier to lose 150 in a 3minute pullback one thing you did do was to set your stop first and then enter the market
 
PARIS (Reuters) - French bank Societe Generale disclosed one of the biggest alleged frauds in financial history on Thursday, adding to a wave of gloom surrounding world markets battered by credit market losses.

SocGen, France's second-biggest listed bank, said it had uncovered an "exceptional fraud" by one of its traders.

A source at SocGen said the trader was "not one of its stars" and was relatively young. SocGen said the trader had been handling plain vanilla futures contracts on European stock market indices, betting on broad share market movements.
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Bet Nicks happy him being a fan of SocGen
 
Anyone for us t-bonds...?

could be on the way out...........keep a watch.......cos when Long term rates change... the trend lasts a while...............:devilish::cheesy:
 
re the socgen rogue trader.
they liquidated his position on monday, hence the big european fall, the us markets react to this fall, the fed panic and reduce rates.
ie the fed made a wrong move due to some rogue frenchman!
 
mrpunter said:
re the socgen rogue trader.
they liquidated his position on monday, hence the big european fall, the us markets react to this fall, the fed panic and reduce rates.
ie the fed made a wrong move due to some rogue frenchman!
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If the Liberals get him for trial no doubt they will trot out all the old reasons:-
Lack of mother's milk
Abused as a child
He'll get a couple of years and out again to write a book. Prob stashed a few million in a Swiss bank a/c for later
 
If somebody wants to put a hit on him, this is his picture... :p
 

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Atilla said:
How do we know he is not one of your colleagues due promotion before you?
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...because I don't work at a French bank!!

The story behind how I got the pic: I have a friend who works as a Quantitative Portfolio Manager at another French Bank and he sent me that pic (it's part 1 of an e-business card) saying "that's the dude who burned 5 billion".

How did my friend have his card? He did a futures trade just last week with the dude who lost 5 billion. I guess my friend got the upper hand on that one!!! :cheesy:
 
Physicsman said:
...because I don't work at a French bank!!

The story behind how I got the pic: I have a friend who works as a Quantitative Portfolio Manager at another French Bank and he sent me that pic (it's part 1 of an e-business card) saying "that's the dude who burned 5 billion".

How did my friend have his card? He did a futures trade just last week with the dude who lost 5 billion. I guess my friend got the upper hand on that one!!! :cheesy:
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Think you missed a trick. Sending it to the Sun newspaper might have got you free lunch... (y)
 
Thanks!

Thanks Dude! I'll keep that in mind for next time - you're right though I did miss a trick this time! :D
 
dc2000 said:
this sideways action means one thing we are gearing for a monster move if I wasnt already in long FTSE short Dow I would be looking to fade the first spike on Dow possibly with a limit order as this will be fast, 2fast 2furious 2fast for y'all
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more sideways action today... still waiting for that "2fast 2furious 2fast for y'all" action ;)

Trading can be real waiting game. I've yet to be convinced about those longs though. Nothing decisive, and still not a clear breakaway of 12350 futures like I mentioned earlier on.
 
Incidentally......

ftse closed @ 38% retrace..876/877.....after hitting 882

now around 870............ Probly means nothing ?? ;)
 
firewalker99 said:
more sideways action today... still waiting for that "2fast 2furious 2fast for y'all" action ;)

Trading can be real waiting game. I've yet to be convinced about those longs though. Nothing decisive, and still not a clear breakaway of 12350 futures like I mentioned earlier on.
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now back at status quo how will traders position themselves over the weekend still waiting for the FTSE here, sell order in overnight
 
Any ideas ... ?

My big dow level is 600/620 but ...we're flying up already near 440...... and we haven't had the run into the fed meeting yet.......... yep 500/520 is a poss but very close..

I'm gonna have to wait :) or go daytrading :(

................................................................................
 
Shorts are (have been) running scared so "they" have them on the backfoot - what better time to pump it higher? Anything near 12550...(tho it may overshoot so HS's target may be better) looking to put out a few shorts....

Question is: was the FED rate cut in response to the Soc Gen a la LTCM? And Will they still cut again Next week...
 
Devilicus said:
Right. Here we go again.
Trying a short here at 12401
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This time around I think it's a bit premature (unless you're going for a scalp or something of that magnitude)... given the overnight action and yesterday's apparent "pressure" that kept any attempt to go even remotely lower in check, I'm waiting to short until a clearer signal comes in! More patience required from me today :whistling
 
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