S&P500 closes above 1300

20111130 Concerted central bank interest rate cut.... Santa Claus rally underway? ES futures 15 min.

20111125 ES futures, a ice move up..

20111125 5 min ES futures. There is a bullish seasonal tendency for US stock markets in the 'Black Friday' after the Thanksgiving holiday.

20111111 Well, two days ago (Nov 9, 2011) the irresponsible press were reporting with sensationalist headlines like this: "Italy on the brink" Nowadays armageddon seems to last 2 days, as most index markets are now up 2%, at this point in time...

Do you smell a rat? Very obviously someone or some corporation with leverage against MF Global got the company to make the money 'missing', such that the $ is mixed with the failed corporation's accounts. Now the creditors can make claim against that money, which obviously belongs to the commodity account holders.

Fwd: SPY Dec 17, 2011 1a24 Call options 60 min

20111109 The SPY is the S&P500 ETF traded on US equity markets. Above is the 60 min chart of SPY Dec 17, 2011 124 Call options. If one has a longer term view of S&P500, the options are a good way to get exposure.

Did the NY Fed seize MF Global’s clients’ money?

If what Felix says is true, it confirms how the 'too big to fail' big dogs like JP Morgan, Goldman Sachs and NY Fed are the arseholes in the financial markets. They are your friend when things are rosy, and the big shark to take the innocent's money when things go sour.

These big dogs are in the wrong industry. Instead of being in banking they are in the 'bank robber' industry.

Well the head of MFGlobal resigned after having driven MF Global into the ground. The introducer at a Princeton University lecture described Jon Corzine as "having many titles, Chairman of Goldman Sachs, Governor, Senator, CEO, high school quarter back..." Now he can add "Rogue Trader" title to his list.

We learn one thing, even leverage of 40 to 1 can tip into collapse, with a slightest adverse market move. Human nature never changes, I see traders overleveraging all the time.. As Sun Tzu says,

"Greed is the fundamental cause of all defeat"

But... "For every $ lost, there is $1 made, it is a zero sum game.

Reuters on "Did Accounting help sink MF Global?' It was a case of 'trying to put on too large a hat to fit one's head'.

20111104 FKLI futures 30 min, closes near the highs of the day.

20111104 S&P500 cash at 1260....

2011110 S&P500 index daily. We are holding ourselves back from trying to get too bullish! The recent move back down from last week's highs to the breakout level, may see another move up to 1310 and beyond.... Bt be warned long term forecasts like this are frivolous and sketchy at best.

When one trades on a 'position' basis, it is like riding the bucking bronco.... it will be a wild ride, and the thing to make sure of is to hang on for the ride.

The Irony in this recent ad by MFGlobal

from the Wall Street Journal.

Another rogue trading episode, perpetrated by MF Global, former Goldman Sachs executive Jon Corzine. And to think the ratings agency maintained MF's credit rating on Aug 3 for a bond sale.

The CEO Corzine tried to replicate the Goldman Sachs model of investmet bank gambling in MFGlobal. Alas, he did not consider that MF was undercapitalised. So there you have it, these hotshot Goldman Sachs and other big bank traders trading secret, use huge capital (OPM=Other People's Money) to trade to make $, not skillful at all.

What caused the financial crisis?

The government and the bailouts.

20111005 Today the arseholes at Moody's in their wisdom, downgraded Italy's credit ratings. But it backfired as the equity markets are UP.... (DAX index 15 min) but we'll see by US session closing...

20110927 ES futures 30 min, .... a 3 day rally, and yet the institutional idiocy in selling down the Asian markets yesterday. When the market seems irrational, they are missing something, as today the trend up continues so far.

20110927 emini S&P500 futures.... when it seemed like the end of the world, it wasn't .....yet.