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DianeLee

DianeLee
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  • The run of late-day market declines looks so familiar to the action of 5 years ago that Art Cashin dug out a note of his from November 2007. "Like playing poker ... you can bluff and posture ... (but) old traders see the final minutes of trading as truth time ... everything up until then is stage play. That's why the action in the final 30 minutes ... is of concern." [View news story]
    Just guessing, but the next job report could be terrible. That would be (or should be) truth time. Of course, part-time and holiday hiring may factor in. (and imho, everything Art Cashin says is worth listening to.)
    Nov 14 11:20 AM | 1 Like Like |Link to Comment
  • President Obama will go into budget negotiations with Congressional leaders on Friday calling for a $1.6T increase in tax revenues over 10 years, double the $800B discussed during debt-ceiling talks in 2011. The sides are sticking to their guns over tax hikes for the rich, while the GOP also want entitlement changes. Obama is due to today meet a who's who of top CEOs, including those of Wal-Mart, IBM and Ford. [View news story]
    for the photo-op.
    Nov 14 11:04 AM | Likes Like |Link to Comment
  • There’s at least a fair chance that newly elected Elizabeth Warren may not get a seat on the Senate Banking Committee. Her resume makes her a "perfect fit," John Carney writes, but many people are working behind the scenes to keep her out. They're not Republicans; lobbyists and committee staff don't like Warren and have begun to quietly campaign against her. [View news story]
    Her claim to Cherokee roots is questionable, but she is a woman. Probably blockage is more closely tied to poor performance, radical idealogy, and perhaps even too closely tied to the White House. The first time she hit my radar was during Congressional hearings many months ago, and she was a frazzled mess, frankly. She also failed her nomination to the new Consumer Protection agency. Then, too, being seated on the Senate Banking Committee for a brand new Senator, tho possible, may be a reach. Respect must be earned.
    Nov 10 02:41 AM | 2 Likes Like |Link to Comment
  • Canada's national energy regulator launches a sweeping audit of TransCanada's (TRP) systems, including its management, risk-assessment, inspection and training practices. The review involves all units regulated in Canada including the 2,763-km Keystone pipeline between Canada and the U.S., according to a letter sent by the National Energy Board to TRP. [View news story]
    Thx for your comments, Bob. I try to trade the basics (along with the news and the politics.) Watching both TRP and LNG at present.
    Nov 2 02:02 PM | Likes Like |Link to Comment
  • Canada's national energy regulator launches a sweeping audit of TransCanada's (TRP) systems, including its management, risk-assessment, inspection and training practices. The review involves all units regulated in Canada including the 2,763-km Keystone pipeline between Canada and the U.S., according to a letter sent by the National Energy Board to TRP. [View news story]
    Thank you for your reply and additional information, Bob. If I remember correctly, you are Canadian and knowledgeable re TRP. The article itself has a not too flattering picture of Darryl Hannah, in handcuffs, apparently at a demonstration with environmental objections to Keystone XL relating to the Ogallala Aquifer in Nebraska. In fact, all objections I can recall are promoted by environmentalists, tho extensive measures and reroutes have been taken. I've long been interested in TRP, and particularly if Romney is elected, plan to watch for an opening. Any advice?
    Nov 2 05:27 AM | Likes Like |Link to Comment
  • Canada's national energy regulator launches a sweeping audit of TransCanada's (TRP) systems, including its management, risk-assessment, inspection and training practices. The review involves all units regulated in Canada including the 2,763-km Keystone pipeline between Canada and the U.S., according to a letter sent by the National Energy Board to TRP. [View news story]
    Looks very like "activist" (Daryl Hannah, let's name names) & others putting EPA pressure on Natl Energy Board...in order to yet again slow down the Keystone pipeline.
    Nov 1 03:12 PM | Likes Like |Link to Comment
  • The Interior Department says it plans to offer up 4.5M acres of Arctic land for oil and gas production, including 400 tracts in Alaska's National Petroleum Reserve, next month. In a political year, the move could be seen as Pres. Obama's answer to persistent criticism from Mitt Romney that the government has stifled domestic oil output. [View news story]
    We can see the Environmentalists bristling already...unless they think this is pre-election chatter.
    Oct 19 03:16 PM | Likes Like |Link to Comment
  • More on Citigroup (C): In addition to Pandit's departure, COO John Havens is also stepping down. The board selects Michael Corbat - who previously served as the bank's CEO of Europe, Middle East and Africa - as new Citigroup CEO. Havens had been planning to retire at year's end, but given Pandit's move, decided now was the time. (PR[View news story]
    Usually, true, but Board members do have egos and money. Plz just consider my post a "what if"
    Oct 16 12:04 PM | Likes Like |Link to Comment
  • More on Citigroup (C): In addition to Pandit's departure, COO John Havens is also stepping down. The board selects Michael Corbat - who previously served as the bank's CEO of Europe, Middle East and Africa - as new Citigroup CEO. Havens had been planning to retire at year's end, but given Pandit's move, decided now was the time. (PR[View news story]
    ...or a power play by the Board and #2 being passed over?
    Oct 16 11:30 AM | Likes Like |Link to Comment
  • "There was this mythology that you could get 90 computers, some Harvard PhDs, and you would turn on your machines and make money." High-frequency trading is falling in on itself, with industry profits expected at just $1.25B this year, off 35% from last year and vs. $4.9B in 2009. Informal data suggests firms are cutting staff and HFT now accounts for 51% of trading, down from 61% three years ago. [View news story]
    Silly? Well, whatever. But consider HFTs make up 70% of the total Market and consistently rake off the top, otherwise known as "skim". And that it's only my humble opinion.
    Oct 16 09:49 AM | 1 Like Like |Link to Comment
  • "There was this mythology that you could get 90 computers, some Harvard PhDs, and you would turn on your machines and make money." High-frequency trading is falling in on itself, with industry profits expected at just $1.25B this year, off 35% from last year and vs. $4.9B in 2009. Informal data suggests firms are cutting staff and HFT now accounts for 51% of trading, down from 61% three years ago. [View news story]
    The mistake is watching the volume and assuming liquidity because total volume is high. Actually, the high volume is only an indicator of HFT action. Again, watch the NET at the end of the day. "Money dries up" (just as you say) when actual investors see the futility in trading with high frequency computers. imho.
    Oct 16 09:27 AM | Likes Like |Link to Comment
  • "There was this mythology that you could get 90 computers, some Harvard PhDs, and you would turn on your machines and make money." High-frequency trading is falling in on itself, with industry profits expected at just $1.25B this year, off 35% from last year and vs. $4.9B in 2009. Informal data suggests firms are cutting staff and HFT now accounts for 51% of trading, down from 61% three years ago. [View news story]
    HFTs are not designed for investment, but (as Lint) says, "skim." HFTs have destabilized the Market to the point many investors have sidelined. As to adding liquidity, forget the volumes, and watch the NET loss/gain. Plus, HFTs have a tumbling effect, taking a stock down, but rarely adding. I'd still like to see the uptick rule reinstated, time limits for holding stock (even just minutes) and yes, even a transaction tax on extremely short-term holds, in order to reduce manipulation.
    Oct 15 05:48 PM | Likes Like |Link to Comment
  • More on Jobless Claims: A Labor Department spokesman says one state was responsible for "much of the unanticipated drop in total claims." Illinois? [View news story]
    Goooood one, Tommy. ;)
    Oct 11 02:40 PM | Likes Like |Link to Comment
  • Jack Welch is only half right - don't trust the numbers in any jobs report, not just the latest one. Revisions on top of revisions... the vast discrepancy between two sets of employment totals... lumping part-time workers with full-timers. But the numbers aren't rigged; if they were, the BLS isn't doing a very good job of it. In 2011: 153K jobs created per month. So far in 2012: 146K/month. [View news story]
    Agree. Color us skeptical.
    Oct 6 10:08 AM | 1 Like Like |Link to Comment
  • New York's AG has filed a civil complaint against JPMorgan Chase (JPM), alleging widespread fraud in the sale of mortgage-backed securities in the run-up to the financial crisis. The suit relates to billions of dollars of subprime securities issued by Bear Stearns' before its takeover by JPM, and is the first brought under the authority of a law enforcement group formed by President Obama in January to pursue alleged wrongdoing during the financial crisis. More cases are expected to follow. Shares -0.8% AH. [View news story]
    Absolutely spot on.
    Oct 2 02:38 PM | Likes Like |Link to Comment
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