status is none of yer' damn business!! :-)
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FITB - http://www.mffais.com/fitb.html
Sure are a lot of new positions opened on this one.
I thought this was a pretty cool product.
Morning folks. Still holding SFI and FITB. BB play IDVN is suppose to have excellent earings coming out on watch.
http://www.idigear.com
Arctic Armor Video 1:
IVDN got some buzz to it.
http://www.idigear.com
Arctic Armor Video 1:
IVDN got some buzz to it.
http://www.idigear.com
Arctic Armor Video 1:
Interesting products these guys have.
Morning folks, see there has been some buzz on this one.
Good! May want to look @ SFI as well.
Plenty of time on this one CJ. Stash some away for the long haul when you do come in.
Now that hurt my feelings, must have took you a while to come up with that one didin't it welfare boy.
Those f'ing idots in washington are just begging for a revlotion again aren't they. Any one of those F'ers try and tell me I can't grow a f'ing potatoe in my back yard will get shot!!
That 100 MA looks mighy hovering around 6.
SFI & FITB charts
That shit was hilarious.
http://www.comedycentral.com/
Indeed it does.
Isn't it noce to see that $$$$ for a change?
Should do well again today.
Morning everyone. Green 4 days ina row? Don't know what to thinka bout this. Still in FITB and SFI .
Lawmakers press SEC on mark-to-market change
Thu Mar 12, 2009 11:00am
WASHINGTON (Reuters) - Top U.S. lawmakers said on Thursday that Congress would take action if accounting regulators and rulemakers failed to quickly improve the mark-to-market accounting standard that has forced banks to record billions of dollars in asset writedowns.
"If the regulators and standard setters do not act now to improve the standards, then the Congress will have no other option than to act itself," Paul Kanjorski, the chairman of the U.S. House of Representatives capital markets subcommittee, told a hearing he called to examine the accounting standard.
The Financial Accounting Standards Board is working on new guidance to help banks determine whether a market is active or inactive and whether a transaction is distressed.
Securities and Exchange Commission Chairman Mary Schapiro told Congress on Wednesday that she was pushing FASB to issue the guidance in the second quarter.
The accounting rule, which requires assets to be valued at current market prices, is defended by investor advocates but the banking industry has pleaded for a suspension or modification of the rule.
Spencer Bachus, the top Republican on the full Financial Services Committee, said FASB and the SEC have not taken meaningful action to address the negative effects of the accounting rule.
"Such action is long overdue," Bachus said at the hearing. "If FASB and the SEC refuse to use their authority to provide useful and timely guidance, this Congress may have no choice but to act in their place."
FASB was created to be an independent body and sheltered from political whims. However, lawmakers have been pressuring the accounting standard setter and the SEC, which enforces accounting rules, to provide banks with some relief.
Barney Frank, the influential chairman of the full House Financial Services Committee, told FASB and SEC officials at the hearing: "We're going to have to have some movement."
(Reporting by Rachelle Younglai, Karey Wutkowski; Editing by Tim Dobbyn)
Market green now, will it keep going?
JPMorgan CEO sees "modest signs" of recovery
http://finance.yahoo.com/news/JPMorgan-CEO-sees-modest-rb-14607676.html
Minimum!
Hopefuly, but now theres talk coming out of congres of another Stimulus package may be in the works as early as next week. Can you believe that shit?
SEC head says 'uptick rule' may be reinstated
SEC Chairman Mary Schapiro says 'uptick rule' may be reinstated; action likely next month
Marcy Gordon, AP Business Writer
Wednesday March 11, 2009, 12:01 pm EDT
WASHINGTON (AP) -- Dramatic changes in the global economy may merit restoring a federal rule aimed at preventing a massive plunge in a stock price caused by a rush of short sellers, the head of the Securities and Exchange Commission said Wednesday.
SEC Chairman Mary Schapiro said the agency "hopefully" will propose for public comment next month reinstatement of the so-called uptick rule.
On another crisis-related issue -- an industry push to scrap the accounting rule that forces banks to value assets at current prices -- Schapiro said the SEC wants revisions that would continue to provide the transparency investors need without excessively hurting banks.
The uptick rule, which the SEC eliminated in 2007, requires short sellers -- those who try to profit from a stock's decline by selling borrowed shares -- to sell at a price above a stock's most recent trading price.
"The world has changed rather dramatically in the past year," Schapiro told a House Appropriations subcommittee. "Hopefully we'll get our proposal out in April."
The SEC could reinstate the rule at some time after the public comment period. The SEC also will consider "other alternatives" related to short-selling, Schapiro said.
As the market has plunged, pressure has been building from some in Congress for the SEC to reinstate the uptick rule, which was established in 1938 during the Depression in the wake of the 1929 market crash.
Short-sellers bet against a stock. The practice, which is legal and widely used on Wall Street, involves borrowing a company's shares, selling them, and then buying them when the stock falls and returning them to the lender. The short-seller pockets the difference in price.
If a company stock was trading at $50 and a trader anticipated that it would decline, he could borrow shares but couldn't sell them until after the stock traded higher, or "ticked up," to at least $50.01.
Schapiro said a multitude of investors, both large financial institutions and individuals, have been pushing for the rule to be restored.
Schapiro appeared before the panel to make the case for the agency's budget request of $1.03 billion for the fiscal year starting in October, an increase of 9 percent from fiscal 2009.
She also was asked about the push by the banking industry and some lawmakers to scrap the mark-to-market accounting rule that forces banks to value assets at current prices, as relief for those institutions in the financial crisis.
"I have a lot of sympathy for" that view, Schapiro said, adding that "it is not our intention that these assets be written down to zero ... or to fire-sale prices."
Still, the SEC doesn't advocate suspending the rule. Schapiro said it is "pushing" the Financial Accounting Standards Board to come up with new guidance for companies that will provide "a better application" for determining what assets are worth.
On the issue of short-selling, proponents of restoring the uptick rule say its elimination helped fuel the volatility on Wall Street amid the financial crisis and the pounding of company stocks targeted by market speculators.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, on Tuesday said he was hopeful the rule "will be restored within a month." Senate Banking Committee Chairman Christopher Dodd, D-Conn., agreed that bringing back the rule was necessary.
Rep. Gary Ackerman, D-N.Y., has proposed legislation that would order the SEC to reinstate the rule.
The agency last fall adopted measures aimed at imposing protections against abusive "naked" short-selling. That occurs when sellers don't even borrow the shares before selling them, and then look to cover positions immediately after the sale.
A test by the SEC in 2007, removing the uptick rule for one-third of the stocks in the Russell 3000 index, found it could be eliminated without causing significant harm.
The analysis by the SEC provided "clear economic support for our recommendation today to remove all current short-sale price test restrictions," Erik Sirri, the head of the SEC's market regulation division, said at a public meeting of the commissioners in June 2007.
Very nice move yesterday, looks like we continue up today.
Good morning all, Looks like we just might have another green day.
Sure was, one minute it was tradign sidewyas and then BAMMMM!
Just the begining.
Indeed it was.
FITB and SFI strong close.
Me too!! Wait till the uptick rule is back and they modify the M2M
Running???? That F'er got the afterburners on!!
Sweet!!! I was wondering if it would today.
Added more FITB here in the rainy day stash.
LOL - Stevo can't "EDIT" your posts. He can only delete them if they are OT.
How about a little in all 3?