wndysrf Posted June 3, 2003 Report Share Posted June 3, 2003 Today?s Wall Struck Journal contained the answer to the unusual strength in the banks and brokers. These guys are raking in huge trading profits, probably at the expense of the HedgeHogs. No doubt, these ?Bullion Banker Matrix Agents? are being fed Cheat Sheets from the Matrix Architects as to the when and where of the Repo Blasts, currency interventions, and futures jamming. In the meantime, the Hapless HedgeHogs are getting whipped around, unable to gain any edge on the insider tips from within The Matrix. Lead story on page C1: ?J.P. Morgan Cashes In on Risky Trading Bets? The article describes two 40-year old crack traders leading an 8-man team which has already racked up $100 million in Riverboating profits this year. Both are likely to get bonuses of $6 million each. ?Star traders Alex Gurevich and and Even Berntsen have little reason to worry too much about the consequences of their bets using the bank?s capital. If they rack up gains, they keep a good chunk of them. If they heavy losses result, they get a smaller paycheck. In contrast, traders at hedge funds usually must make up to investors any losses before traders can begin to profit.? ?The increasing importance of ?prop? trading carries risks because this kind of trading is at best volatile and can lead to heavy losses. While others have generated profits selling the dollar and buying the euro, the J.P. Morgan team stands out for more complicated maneuvers, such as using options and playing emerging and more obscure markets.? So, in summary, I think we are experiencing Doug Noland?s ?As Good As It Gets? speculation environment. A Greenspan put on the stock market. A Greenspan put on the bond market A Greenspan put on the dollar Helicopter loads of new Keno Chips poured out of the Repo Blaster on demand With investment banking business in the toilet, how could management not resist the temptation to use 100:1 leverage on all trades? In order to ?catch up? the profit stream and overtake building credit losses and lackluster income?? Why have 19,000 tellers, consumer loan officers, back office personnel, security guards, and customer service personnel in New Delhi when 8 guys can make $100 million a quarter? Can you imagine that? Turning 8 guys loose to trade the bank?s tiny pool of equity capital supporting a potential 700-story Derivatives Inferno leveraged 650:1? No doubt, these traders are now using Black Holes Models which factor in the Animal Planet Psychology and trade the opposite. With billions of eyeballs gaming the same data in real time using half second executions, is it any wonder that these crack traders are constantly fading the charts, setups, and technicals? Where is Buddhadropping? He?s probably employed at J.P. Morgan now, being paid millions to advise the programmers of his ?Dog Food Science? theories, instructing the models to always fade the chart huggers. Technical analysis has become so mainstream, daily candlestick patterns are now broadcast out to the millions of gamers worldwide, complete with price targets and trading instructions: Found on Barfing.com at 2:45pm: Commentary: Chip sector battles 'bearish engulfing' (SMH) by Tomi Kilgore ?The Merrill Lynch Semiconductor Holdrs (SMH) are rallying 29 cents, or 1 percent, to $29.47 as the sector tracking stock attempts to fight off the negative technical effects of Monday's "bearish engulfing" candlestick charting pattern. The stock opened at $30.25 on Monday, made a new high for its recent move of $30.45 in intraday trading, before closing down 77 cents at $29.18. The day's activity fully engulfed the prior day's entire intraday range of $30.20 to $29.60. Followers of the centuries old charting method believe this pattern foreshadows a downside reversal of the recent trend. The pattern is also know as a "key reversal." The negative effects remain in place until the SMH can close above Monday's high ($30.45).? Another example: Every time there is a bearish engulfing on the Asian Exotica (NTES, SOHU, SINA), the shorts all jump in. And of course, that move is always faded and The Matrix Agents hump these to the upside in another massive, high volume move. Bearish engulfings followed immediately by a bullish engulfing. Keeping the Crushed Velvet Interior girls locked in their Pleasure Houses of permanently rising prices emboldens the speculators to stay in the game and continue to chase upward motion. And near bankrupt SIRI went up another 20% on 200 million shares traded. Who would have believed that after 3 years into a bear market, Riverboaters are still chasing $2.00 Promise Tickets on the hope that the company doesn?t go broke next month? Who would have believed that the number of Promise Tickets traded in that one penny stock would equal to a quarter of the entire NYSE trading volume on a slow day? The Mania endures?.. Link to comment Share on other sites More sharing options...
wndysrf Posted June 3, 2003 Author Report Share Posted June 3, 2003 Program Robot buying into the close, big time volume acceleration. Another 2 billion share day on the Nasdaq. The 4th in a row. Churning and burning the hopers? or Churning and burning the shorts? Alan Newman's Update: http://www.cross-currents.net/outlook.htm Link to comment Share on other sites More sharing options...
Guest Icky Twerp Posted June 3, 2003 Report Share Posted June 3, 2003 Mark, I say this with the highest regards, only the most cynical burn-out case jaded with trading ennui could articulate this perception of the market. Thank you for persevering. And that goes for Buddha, too... IT Link to comment Share on other sites More sharing options...
BeerMarket Posted June 3, 2003 Report Share Posted June 3, 2003 ...Can you imagine that? Turning 8 guys loose to trade the bank?s tiny pool of equity capital supporting a potential 700-story Derivatives Inferno leveraged 650:1? ... Of course, 2 other JPM stories today make perfect sense in light of all that great trading: NEW YORK, Jun 2, 2003 (BUSINESS WIRE) -- JPMorgan Investor Services (JPMIS) announced today that it has expanded its role as global custodian for the College Retirement Equities Fund (CREF)... American Century Investments and JPMorgan announced June 1 they have transferred to JPMorgan exclusive ownership of J.P. Morgan/American Century Retirement Plan Services Link to comment Share on other sites More sharing options...
h2orush Posted June 3, 2003 Report Share Posted June 3, 2003 ......... very dissapointing......Bears couldnt take 965 today on 2 attempts....Bodes for at minimum a retest of yesterdays highs, but most likely another jam higher to 1000 and beyond....... just dont pay to be on the wrong side of this crack market..... Kudos to Piles et all who have waited for confirmation from Sentiment indexes to get short. This rally going higher, much higher. Link to comment Share on other sites More sharing options...
MrHanky Posted June 3, 2003 Report Share Posted June 3, 2003 Usually when they start ramping the close in the last few minutes...the rally is almost over. who the hell knows....I am down a whopping .75% now(only about 500 bucks).just waiting it out Link to comment Share on other sites More sharing options...
Mr. Beal Posted June 3, 2003 Report Share Posted June 3, 2003 Pass the balloon I?d like a deep breath of the matrix qualude gas. Link to comment Share on other sites More sharing options...
Guest Posted June 3, 2003 Report Share Posted June 3, 2003 ......... very dissapointing......Bears couldnt take 965 today on 2 attempts....Bodes for at minimum a retest of yesterdays highs, but most likely another jam higher to 1000 and beyond....... just dont pay to be on the wrong side of this crack market..... Kudos to Piles et all who have waited for confirmation from Sentiment indexes to get short. This rally going higher, much higher. O'Brien saying we go to 1050 and probably beyond without any problem. Link to comment Share on other sites More sharing options...
wndysrf Posted June 3, 2003 Author Report Share Posted June 3, 2003 Uh Ohh...... Altera sees Q2 sales at high end of range (ALTR) by Chris Kraeuter "Altera (ALTR) expects second-quarter revenue to grow 3 to 4 percent sequentially compared with previous growth targets of between 1 and 4 percent. The chipmaker said demand for its newest products continue to expand." Link to comment Share on other sites More sharing options...
Guest Posted June 3, 2003 Report Share Posted June 3, 2003 Uh Ohh...... Altera sees Q2 sales at high end of range (ALTR) by Chris Kraeuter "Altera (ALTR) expects second-quarter revenue to grow 3 to 4 percent sequentially compared with previous growth targets of between 1 and 4 percent. The chipmaker said demand for its newest products continue to expand." Isn't ALTR dropping AH? Anyone can confirm? Link to comment Share on other sites More sharing options...
soup Posted June 3, 2003 Report Share Posted June 3, 2003 the statement from altr is complete spin, basically saying nothing new. Link to comment Share on other sites More sharing options...
MrHanky Posted June 3, 2003 Report Share Posted June 3, 2003 Uh Ohh...... Altera sees Q2 sales at high end of range (ALTR) by Chris Kraeuter "Altera (ALTR) expects second-quarter revenue to grow 3 to 4 percent sequentially compared with previous growth targets of between 1 and 4 percent. The chipmaker said demand for its newest products continue to expand." Isn't ALTR dropping AH? Anyone can confirm? 18.30 on island....down .25 Link to comment Share on other sites More sharing options...
Tchaikofsky Posted June 3, 2003 Report Share Posted June 3, 2003 Uh Ohh...... Altera sees Q2 sales at high end of range (ALTR) by Chris Kraeuter "Altera (ALTR) expects second-quarter revenue to grow 3 to 4 percent sequentially compared with previous growth targets of between 1 and 4 percent. The chipmaker said demand for its newest products continue to expand." Isn't ALTR dropping AH? Anyone can confirm? 4:38 p.m.: Bid 18.13 Ask 18.47 Last 18.30 Closed at 18.55 Link to comment Share on other sites More sharing options...
BartTheBear Posted June 3, 2003 Report Share Posted June 3, 2003 Looks to be down .25 on Island. Link to comment Share on other sites More sharing options...
chiefywiefy Posted June 3, 2003 Report Share Posted June 3, 2003 Daimler Chrysler makes up for ALTR. Chrysler unit posting an operating loss of about 1 billion euros in the second quarter. In a statement, the company blamed the anticipated loss at its U.S. unit on higher incentives costs, lower revenue from ongoing sales and a revaluation of dealer stocks. http://biz.yahoo.com/rc/030603/autos_daiml...chrysler_1.html Link to comment Share on other sites More sharing options...
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