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Created: by aquarian1 Attachments:423

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Trading

  #311 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Big Mike View Post
Questions from Mike

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

I have discontinued posting in this journal on a regular basis and started a new one for the contest period.

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

It takes too much time.
There has been no useful feedback


C) Were you initially reluctant to start this trading journal? If yes, why?

yes. forum trolls

D) How do you feel, overall, about your journaling experience?

Overall negative. At times it was useful to have a record with time and date on it in public to remind me when I was incorrect. This helps guard against over-confidence.

E) Would you recommend to others that they should also start a trading journal?

On the most part, for many people yes.

It they lack discipline then requiring of themselves regular postings of a set format is good practice in following through.
If they lack clarity of thinking or clarity of trading rules, then yes.
If their trading method and their personalities are ameniable to outside suggestions, then yes.
If they are doing it for ego or for wasting their time then no.

If they are keeping a journal privately( but not posting it) some of the benefits are there but sharing ideas and receiving ideas is lost.

Keep your mind in the future, in the now.

Last edited by aquarian1; May 9th, 2012 at 05:55 PM.
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  #312 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
Thanks: 1,137 given, 1,696 received
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Profile of a Terrorist


Hair: curly locks
Clothing: Bulky undergarments (claims they were diapers!)
MO : Talks in baby talk to confuse TSA
Case nailed: High level computer security database - vetted by (we can't tell you that's classified)
Age: 18 months

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Go big TSA and spend the dough. Hire a 10 year old to do your programming!
What would have happened if she was 18 years old - strip search by the TSA boz?

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  #313 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
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Banks lead Wall Street lower on JPMorgan loss


(---Interesting yest Larry posts on derivative exposure and today....)

Banks lead Wall Street lower on JPMorgan loss
AP - 9 mins ago

In this May 3, 2012, photo, trader Matthias Roberts, center, works on the floor of the New York Stock Exchange. Wall Street headed for a lower opening Friday May 11, 2012. Dow Jones industrial...
Related Stocks
C - Citigroup Inc.
Sym Last Chg Pct
C 29.24 -1.41 -4.60%
BAC 7.45 -0.25 -3.25%
JPM 37.06 -3.68 -9.03%
MS 14.73 -0.87 -5.58%

NEW YORK (AP) — Financial stocks are leading the market lower in early trading after JPMorgan disclosed a huge trading loss.

The bank reported a $2 billion loss at a London trading unit after the close of markets Thursday. JPMorgan is down nearly 9 percent in the first minutes of trading.

The Dow Jones industrial average fell 70 points to 12,785 shortly after the opening bell Friday. The Standard & Poor's 500 is down four points at 1,353.

The Nasdaq composite, which mainly follows technology stocks, edged up two points to 2,936.

The news of huge losses at the largest bank in the U.S. pulled down other financial stocks. Morgan Stanley fell nearly 5 percent. Goldman Sachs is down 4 percent.

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  #314 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
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From Larry:

JPM

JP Morgan (JPM) is supposed to be the safest bank on the planet. In a speech less than a year ago, CEO Jamie Dimon claimed JPM had a “fortress balance sheet.”

"We maintained our fortress balance sheet, ending the second quarter with a Basel I Tier 1 Common ratio of 10.1%. Our strong and growing capital base enabled us to buy back $3.5 billion of stock during the second quarter, and we will continue to buy back stock opportunistically."

Not so much. Yesterday we saw what happens when a bankster is forced to tell the truth. JPM shares are being monkey-hammered 5% lower as I type this.

In it’s just filed 10-Q report JPM admits the following…

In Corporate, within the Corporate/Private Equity segment, net income (excluding Private Equity results and litigation expense) for the second quarter is currently estimated to be a loss of approximately $800 million. (Prior guidance for Corporate quarterly net income (excluding Private Equity results, litigation expense and nonrecurring significant items) was approximately $200 million.) Actual second quarter results could be substantially different from the current estimate and will depend on market levels and portfolio actions related to investments held by the Chief Investment Office (CIO), as well as other activities in Corporate during the remainder of the quarter.

Since March 31, 2012, CIO has had significant mark-to-market losses in its synthetic credit portfolio, and this portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the Firm previously believed. The losses in CIO's synthetic credit portfolio have been partially offset by realized gains from sales, predominantly of credit-related positions, in CIO's AFS securities portfolio. As of March 31, 2012, the value of CIO's total AFS securities portfolio exceeded its cost by approximately $8 billion. Since then, this portfolio (inclusive of the realized gains in the second quarter to date) has appreciated in value.

The Firm is currently repositioning CIO's synthetic credit portfolio, which it is doing in conjunction with its assessment of the Firm's overall credit exposure. As this repositioning is being effected in a manner designed to maximize economic value, CIO may hold certain of its current synthetic credit positions for the longer term.

Accordingly, net income in Corporate likely will be more volatile in future periods than it has been in the past.

This probably won’t go over well in the markets on Friday. Then again, CEO Jamie Dimon will probably arrange for “special help” from the Fed before the open, or perhaps a call to a certain large investor in Omaha?

Trade well and follow the trend, not the so-called “experts.”

Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.

Keep your mind in the future, in the now.
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  #315 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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$3.5 Billion Euros "missing" from Bankia

[me: How can this not be called theft in a day of minute to minute balancing of a bank account/
The second you withdraw $500 from your bank account it shows on the balance. ]
-----
From Larry on Thurs:


With Spain now falling apart, the Eurocurrency slipped below the dreaded 1.3000 level that always brings out central bank buying. By the way, unlike in the US where Ben Bernanke lies about OVERT manipulation of markets (other than the Treasury market which he believes is his duty) other central banks like that of China and Switzerland freely admit to buying Euros for the sole purpose of manipulating the market (for their own ends, of course). So with the conflagration restarting in Spain, Greece, and Italy – the central bankers supported (read: manipulated) the currency markets to keep it seriously falling through 1.3000.

A large bank in Spain was recently audited and found to have vastly overstated the amount of money in has in customer accounts. Although depositors believed it was there – it isn’t. The funds have “vaporized” a-la John Corzine. Perhaps we should call it being “Corzined?” What’s missing? $3,500,000,000.00

A story about this translated by Google reads, “The shareholders of Bankia know in the coming days that bank accounts are overstated. This was unveiled today the online edition of The World that uncovers the traditional audit Bankia, Deloitte, has detected that the accounts of 2011 in the matrix of the group are inflated.

Sources have confirmed to elmundo.es Bankia that the auditor has filed a dissent in an overstatement of accounts Financial Savings Bank (BFA).

This is the Bankia matrix consisting mainly of Bancaja and Caja Madrid and in 2010 received a loan from the not yet returned by value of 4,500 million euros.

"These sources confirmed a report in the newspaper El País notes that the overvaluation would be 3,500 million, an amount that is considered impossible to obtain immediately by the financial institution without outside help," according to The Mundo.es.

The Deloitte report has not been made ​​public, although the accounts were presented on Friday the market.

A study by Swiss bank UBS has had access to elmundo.es, notes that BFA was not only participating in Bankia overvalued by at least 70% above market value, but also several portfolio companies.”

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  #316 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Platform: IB and free NT
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Favorite Futures: ES
 
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Tables test

Keep your mind in the future, in the now.

Last edited by aquarian1; May 15th, 2012 at 11:45 PM.
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  #317 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Favorite Futures: ES
 
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ES Preview for Friday

Looks like 1289 to 1287 are possible

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  #318 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Platform: IB and free NT
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Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
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possible play on oil

This ETF trades in Toronto

HOD.TO Basic Chart | Horizons BetaPro NYMEX Crude O Stock - Yahoo! Finance

Good break-out
Perhaps buy at pull-back to $5.50?


see also:
HGD.TO Basic Chart | Horizons BetaPro S&P/TSX Glbl Stock - Yahoo! Finance

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  #319 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Platform: IB and free NT
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Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
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Cotton and Wheat news

Yahoo! Groups

NY cotton ends up in rebound from 2-1/4-year low14 minutes ago by Thomson Reuters

* July and December hold above Thursday's low * Market takes respite on end-of-week short-covering May 18 (Reuters) - Cotton futures closed higher Friday on speculative short-covering in a rebound from ending at a 2-1/4-year low in the previous session, with analysts saying the euro zone debt crisis could dictate direction next week.
....

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  #320 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,134 since Dec 2010
Thanks: 1,137 given, 1,696 received
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Re: Friday May 18, 2012

Wrap-up Friday,

Today we realized 1289.75 low. TO THE TICK!
Love it when a plan comes together!

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