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Is this price action nauseating, or what?
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Is this price action nauseating, or what?

  #21 (permalink)
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Indeed, a different market though. SP500 is extremely liquid and a lot easier to manage the risk. The interbank market makers are dealing in exotic options dated out from 3m to 3 years. In the case of the whale, he was the market. I also think that loss was quite a lot worse than reported and much of it has been covered up and shovelled onto the US national debt.


tigertrader View Post
tell that to Jaimie Dimon and J.P.


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  #22 (permalink)
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Point is Goldman is the Market Maker's Market Maker. They make money no matter where it goes. They are a middle man to the biggest money and they are experts in the use of exotic option market making structures. When's the last quarter they took a trading loss? Have they ever?

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  #23 (permalink)
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syxforex View Post
Goldman is a market maker, they are never stuck one way... they never lose

Instead of saying they are stuck short, my inclination was they are simply very bullish, but want the heard to push lower so they can buy into them.

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  #24 (permalink)
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Of course, there must be a reason for their call, coralling the heard makes sense.


Big Mike View Post
Instead of saying they are stuck short, my inclination was they are simply very bullish, but want the heard to push lower so they can buy into them.

Mike


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  #25 (permalink)
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tigertrader View Post
This truly appears to be a structural change in the markets and not a cyclical one, I'm afraid. Current market reality is that an overwhelming share of trading activity is based on short-run price forecasts rather than fundamental research. Under these conditions, how can one expect prices to track changes in the fundamental values of the income streams to which the assets give title?

Markets have always been based on a shifting balance between information augmenting and information extracting strategies, but the HFT arms race coupled with changes in institutions and regulation seem to have shifted the balance markedly towards the latter. Unless the structure of incentives is altered to favor longer holding periods, I suspect that we shall continue to see low volume and low volatility as any market inefficiencies that exist are quickly gamed by HFTs.

Changes in the perceived volatility and an acknowledged Fed put have given rise to greater risk taking and greater asset allocations by institutional and retail investors, but it has also served to remove not only all the risk from the markets, but all the doubt as to where the market is headed. Who cares what happens in Europe, if the ECB and the Fed are ready willing and able to provide liquidity. So , the market continues to melt up ever so slowly.

@tigertrader, You are 2nd person whose opinion I read and value to have said that. I do not have a frame of reference so I hope to study more of this. Would you be willing to share why you believe this is a lasting change?

Normally, when there is artificial activity one would think, given a long enough macro basis, things would revert to mean, but you are challenging this notion. Another very capable trader I have had the fortune of knowing is saying the same thing. Not to disagree, but this is a challenging position to take


tigertrader View Post
tell that to Jaimie Dimon and J.P....ey!

No kidding, a lot of nonsense is spewed of these forums, with little or no facts. Unfortunately, it is getting worse rather than better

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  #26 (permalink)
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Care to share some examples Deucalion, please elaborate... I"ve got a printing press of facts as endless as Bernanke's. Please enlighten us with your wisdom and worldly experience.


Deucalion View Post
@tigertrader, You are 2nd person whose opinion I read and value to have said that. I do not have a frame of reference so I hope to study more of this. Would you be willing to share why you believe this is a lasting change?

Normally, when there is artificial activity one would think, given a long enough macro basis, things would revert to mean, but you are challenging this notion. Another very capable trader I have had the fortune of knowing is saying the same thing. Not to disagree, but this is a challenging position to take



No kidding, a lot of nonsense is spewed of these forums, with little or no facts. Unfortunately, it is getting worse rather than better



Last edited by syxforex; September 24th, 2012 at 11:16 PM.
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  #27 (permalink)
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I'm finding currency markets slow lately, but so far am using the time to get other trading related things done (learning, working on the trade plan, improving the platform). If I find myself becoming impatient no doubt I'll look at other markets & instruments.

I gave up trying to figure out the cause quite a while ago, and given my chosen trading time frame (short) try not to listen to the media's take on it, or folks' opinions of the media's take on it. Pretty much all I need to know is in front of me on the charts, blessed as I am with average judgement and a quick trigger finger

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  #28 (permalink)
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Do I need to do a lesson on market making for you?

Naturally, JPMorgan is a derivatives market maker and a contributing bank to Markitís CDX Indices. The conflict of interest inherent in this whole relationship should be abundantly clear by now, but in case itís not: JPMorgan is not only one of the banks that contributes to the determination of the price of the index to which the fate of its most important unit (CIO) became inextricably tied, but the bank is also one of the largest shareholders in the company that constructs and publishes the price of that index.

JPMorgan, Jamie Dimon, Markit, And The Whale-Sized Scam-Of-The-Year


Deucalion View Post
@tigertrader, You are 2nd person whose opinion I read and value to have said that. I do not have a frame of reference so I hope to study more of this. Would you be willing to share why you believe this is a lasting change?

Normally, when there is artificial activity one would think, given a long enough macro basis, things would revert to mean, but you are challenging this notion. Another very capable trader I have had the fortune of knowing is saying the same thing. Not to disagree, but this is a challenging position to take



No kidding, a lot of nonsense is spewed of these forums, with little or no facts. Unfortunately, it is getting worse rather than better


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  #29 (permalink)
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syxforex, I can't see your posts anymore but, among others, Paul van Eeden had a really good but long winded discourse on money supply balance a while ago. As did Mish Shedlock (who referenced some work from Steve Keen)

While all of them refer to Bennie as a monetarist, but none of them would agree to the hyper inflationary bit as a direct effect of so called QE

Have a read...see what you think

UNDERSTANDING THE MECHANICS OF A QUANTITATIVE EASING TRANSACTION | PRAGMATIC CAPITALISM

And while it is easy to reject Bennie words, I give him some credit

http://pragcap.com/bernanke-explains-why-qe2-is-not-money-printing-again

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  #30 (permalink)
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I will check it out when I can Deucalion, but to be honest with you it's really neither here nor there for me. I haven't studied that stuff in 20 years. Whether money printing is Keynesian or neo-Keynesia or not Keynesian or if it's fiscal policy vs monetary policy or whatever, it's all the same to me. It all stinks. I believe in small and good government. I don't believe in privately owned central banks that control the government. Whatever that makes me. And to be really honest, as long as I keep kicking it in the market everyday, I'll just keep rolling with whatever they throw at us and fighting for what is right.


Deucalion View Post
syxforex, I can't see your posts anymore but, among others, Paul van Eeden had a really good but long winded discourse on money supply balance a while ago. As did Mish Shedlock (who referenced some work from Steve Keen)

While all of them refer to Bennie as a monetarist, but none of them would agree to the hyper inflationary bit as a direct effect of so called QE

Have a read...see what you think

UNDERSTANDING THE MECHANICS OF A QUANTITATIVE EASING TRANSACTION | PRAGMATIC CAPITALISM

And while it is easy to reject Bennie words, I give him some credit

BERNANKE EXPLAINS WHY QE2 IS NOT MONEY PRINTING….AGAIN | PRAGMATIC CAPITALISM


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