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Hi Dream,
I just saw your call on this on the Savvy Trades board at .21
Nice find!
I think this might end up a ten bagger for you.
Hello,
I haven't been around here in quite awhile. Good to see a familiar face. This one looks very interesting. I took a starter today. Planning to do more thorough DD over the weekend.
Do you have a position?
Covered AMZN @ $107.01 not holding overnight.
Knew AMZN was reporting today so I figured it was a good day for me to put my boat away for the year. Saved myself thousands. lol. Even Cramer said the way to play AMZN was to short it into earnings and buy it back in the low $80's. People I know were throwing out shorts @ $100 and $101 and I probably would have been right there with them. Maybe the ticker stands for Amazing.
Short 200 @ $107.34 risking $1.
Long GERS @ .0047 Got patent today, has licesne potential IMHO.
Here's hoping the Redskins get crushed this year. I hate Dan Snyder...
For Redskins Fans, Hard Luck Runs Into Team's Hard Line
Since 1962, Pat Hill has been a Redskins fan. She still is even though they sued her and won when she couldn't make payments on a 10-yr contract for Redskins season tickets. She's a 73-year-old realtor and making $400 a month in social security after the housing crash. Hill on her couch, among a small sampling of her memorabilia, uses tissues to wipe the tears while she recalls the lawsuit. She's hoping Dan Snyder will listen to her story and her willingness to pay when the recession has passed. (Linda Davidson - The Washington Post)
Montgomery County businessman James Nesbitt is no longer a Redskins fan after getting stung by a contract to "renew" his ticket seats. To make a long story short, he did not renew his contract and has proof that someone forged his signup sheet making him liable for a six year contract. He settled on a compromise but believes the organization has crooked business practices. James Nesbitt with the version of the renewal he submitted without an "X" in the square (top) and below, the one's the Redskins say he submitted with the "X" in a six year renewal. (Linda Davidson - The Washington Post).
By James V. Grimaldi
Washington Post Staff Writer
Thursday, September 3, 2009
It would be hard to find a more loyal fan of the Washington Redskins than real estate agent Pat Hill. She's had season tickets since the early 1960s, when her daughter danced in the halftime shows at the old D.C. Stadium, before it was renamed in memory of Robert F. Kennedy.
In the hallway of her modest home south of Alexandria, the 72-year-old grandmother points out the burgundy-and-gold Redskins hook rug she made. In her bedroom, she shows off the pennants from two Redskins Super Bowl games she attended, and she opens a music box on her dresser that plays "Hail to the Redskins."
Now, Hill says, her beloved Redskins are forcing her into bankruptcy.
Last year, Hill's real estate sales were hit hard by the housing market crash, and she told the team that she could no longer afford her $5,300-a-year contract for two loge seats behind the end zone. Hill said she asked the Redskins to waive her contract for a year or two.
The sales office declined.
On Oct. 8, the Redskins sued Hill in Prince George's County Circuit Court for backing out of a 10-year ticket-renewal agreement after the first year. The team sought payment for every season through 2017, plus interest, attorneys' fees and court costs.
Hill couldn't afford a lawyer. She did not fight the lawsuit or even respond to it because, she said, she believes that the Bible says that it is morally wrong not to pay your debts. The team won a default judgment of $66,364.
"It really breaks my heart," Hill said, her voice cracking as the tears well and spill. "I don't even believe in bankruptcy.
"We are supposed to pay our bills. I ain't trying to get out of anything."
Hill is one of 125 season ticket holders who asked to be released from multiyear contracts and were sued by the Redskins in the past five years. The Washington Post interviewed about two dozen of them. Most said that they were victims of the economic downturn, having lost a job or experiencing some other financial hardship.
Redskins General Counsel David Donovan said the lawsuits are a last resort that involve a small percentage of the team's 20,000 annual premium seat contracts. He added that the team has accommodated people in hard-luck circumstances hundreds of times. He said he was unaware of Pat Hill's case.
Here's a Mark Twain quote Brig will appreciate...
The importance of having vices...
A woman fell ill and the doctor came to see her. He examined her for a few minutes and then told her, "Madam, as long as you give up drinking, give up smoking, and stop carousing until all hours of the night you will be fine."
The woman was shocked and offended. She told the doctor, "Good Sir, I have never smoked, alcohol has never crossed my lips, and I never stay out late at night!"
The doctor stroked his chin, shook his head and said, "In that case madam, I'm afraid your doomed."
Covered SDS @ $48.64 for .21 calling it a day.
BWA - Covered 1/4 @ $32.43 for $1.20 eom.
Short SDS @ $48.85 getting long the market for a squeeze.
Stop at $49.15
BWA - Covered half @ $33.25 for .38; letting the other half ride.
Stops at $34
Short BWA @ $33.63 missed earnings guided in line.
Wow! Shitty auction results and this market still can't sell off. It actually goes up! lol. Way too many shorts are trapped for us to go down big.
MAS - Swing Short @ $13.10 Had a nice report but has had a huge run. Valuation is rich. All that could mean nothing so stop out @ $13.60.
If the market ever pulls back I think this could go back to the $10 to $11 range.
Yes, it's very nice; but you have the luxury of not having to spend squat on a military.
Futures are getting whacked! Given up over half of today's move already.
Time for my quarterly Amazonics Anonymous meeting.
Treasury Bets U.S. Financial System Can Weather CIT Collapse
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By Scott Lanman and Vivien Lou Chen
July 16 (Bloomberg) -- The U.S. spurning of CIT Group Inc.’s aid request suggests officials are betting they’ve fixed the financial system enough to withstand the bankruptcy of a mid-sized lender.
“I hate to say this, but it was probably expendable,” said Dennis Santiago, chief executive officer of Institutional Risk Analytics, a Torrance, California, research firm that studies systemic risk. “It may have just missed the boat” on federal rescues, Santiago said.
Yesterday’s decision to forego a lifeline for CIT came 10 months after Lehman Brothers Holdings Inc. filed for bankruptcy. Lehman’s collapse ushered in the depths of the credit crisis to date, and resulted in the establishment of a $700 billion bailout fund; officials yesterday indicated programs created with that money would help fill any lending gap left by CIT.
Treasury Secretary Timothy Geithner, en route to Paris as CIT acknowledged policy makers had turned it down, is also wagering the administration will weather any political fallout. Unlike Bear Stearns Cos. or American International Group Inc., which got extraordinary aid last year, New York-based CIT specializes in loans to smaller firms, counting 1 million enterprises, including 300,000 retailers, among its customers.
A Treasury official said the department anticipates losing the $2.3 billion of taxpayer funds that it had already injected into the company from the Troubled Asset Relief Program should it file for bankruptcy.
‘Disruption’ and ‘Anger’
There will be “a lot of disruption and anger among voters, particularly among people who rely on firms such as CIT for funding,” said Sean Egan, head of Egan-Jones Ratings Co. in Haverford, Pennsylvania, which rates CIT below investment grade.
“A major provider of capital in the middle market is likely to be out of business in the near future,” and investors will be concerned, at least in the “short run” about CIT, Egan said.
CIT, whose stock trading was halted by the New York Stock Exchange before the close, said late yesterday it was told “there is no appreciable likelihood of additional government support being provided over the near term.” CIT added that it was “evaluating alternatives” with its advisers.
The Treasury then highlighted in a statement that the government has enacted “powerful” mechanisms to revive credit markets. “Even during periods of financial stress, we believe that there is a very high threshold for exceptional government assistance to individual companies,” the department said.
Administration Rationale
An Obama administration official separately said CIT didn’t receive more government assistance because it hadn’t gone to private capital sources to rebuild its balance sheet, something that several of the biggest Wall Street and regional lenders did earlier this year.
The official, who requested anonymity to discuss the deliberations, said the government also determined that CIT didn’t pose systemic risk to the economy if it failed to receive more aid.
Yesterday’s collapse in talks between regulators and CIT followed reluctance by the Federal Deposit Insurance Corp., the bank’s main regulator, to give it permission to participate in the agency’s debt-guarantee program.
The Federal Reserve had separately considered whether to let CIT put some of its parent assets into a banking unit, a move that could have increased its potential borrowing from the central bank. No such aid was forthcoming. The Fed has doubled its balance sheet to more than $2 trillion as it engaged in Wall Street rescues and emergency loans to banks across the nation.
‘Very Big Losses’
“If the government would have rescued them they would have been in there for a very long time, and they would have taken very big losses,” said Eric Hovde, who manages $1 billion at Hovde Capital Advisors LLC in Washington, which concentrates on financial and real-estate related companies.
Part of the Fed and Treasury efforts to shore up the financial markets have been directed at restarting lending to small businesses. The two agencies in March jointly started the Term Asset-Backed Securities Loan Facility, or TALF. Under the program, the Fed lets investors borrow to purchase securities backed by auto, credit-card and other loans, with the idea that should spur lenders to extend more credit.
TALF loans from the Fed totaled $24.9 billion as of last week, compared with the program’s planned capacity of $1 trillion, backed by $100 billion of funds from the $700 billion Troubled Asset Relief Program.
TALF Aid
Fed officials credit the existence of the TALF with spurring the market for new asset-backed securities and reducing the difference, or spread, between yields and benchmark rates.
“So far, the evidence indicates that the program is working as designed,” New York Fed President William Dudley said in a speech last month. Yield premiums on consumer asset- backed securities have dropped “sharply,” he said.
The three-month London Interbank offered rate for the dollar, a benchmark for liquidity stresses among banks, has fallen every week since mid-March. The rate dropped to 0.51 percent yesterday from 1.43 percentage point at the start of the year.
Other evidence of a stabilization in the financial industry emerged this week, with Goldman Sachs Group Inc. reporting record profits. The Standard & Poor’s 500 Financials Index has rallied 11 percent this week.
Fed policy makers still regarded financial markets as “fragile” and the economy as “vulnerable to further adverse shocks,” minutes of their June 23-24 meeting, released yesterday in Washington, showed.
Regulatory Overhaul
The spurning of CIT comes amid a growing debate among officials, regulators, lawmakers and the financial industry over how to address the issue of firms deemed too big to let fail.
President Barack Obama is seeking the biggest overhaul of banking rules in decades, and wants to give the Fed new powers to oversee capital and liquidity standards. FDIC Chairman Sheila Bair, along with some lawmakers and central bankers, has urged stronger efforts to address the too-big-to-fail issue.
Gary Stern, president of the Minneapolis Fed, said the Obama plan “fails to come to grips” with the challenge, partly because it doesn’t threaten creditors with the risk of loss. House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, plans a hearing on the matter July 21.
CIT was created in 1908, after founder Henry Ittleson noticed wholesalers repeatedly short of cash while he was a purchaser for a St. Louis department store. He wanted to create a new company that would serve customers overlooked by larger financial institutions, according to the firm’s Web site.
“I’ve heard from a lot of people, including a lot of people involved in small business, that it would cause a serious problem” for CIT to fail, Frank said in an interview yesterday before the firm’s announcement.
Among financial firms, “especially those on the edge, there’s going to be a scramble to figure out whether you’re in or out” of bailouts, said Joseph , Louisiana State University finance professor. “This classification of systemic risk really is something like pornography -- Fed and Treasury know it when they see it. You really can’t pre-commit.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=au7g7OjDYZ10
The government is going to burden small business with health insurance costs and then they decide to let a major source of small business funding go out of business.
This makes all the whack jobs who think the government is conspiring to bring down the economy in order to create a dependent society not look so crazy.
Dykstra and The Daily Show...
http://www.thedailyshow.com/watch/tue-july-14-2009/lenny-dykstra-s-financial-career
I almost woke up the whole house from laughing at the end.
Let's see, he's moody, grouchy, capable of giving wicked tongue lashings at the drop of a hat, and I never have sex with him...
Don't need him, I already have a wife!!!!
I don't know if I love you but I was thinking about you. I just got back from a week at the beach. While I was there I went into a T-Shirt store; they had one that said, "Do I really look like a fucking people person to you?"...and I thought, "Brig could wear that."
8^)
Is America Better Off Being Feared Or Loved?
by John Hawkins
"From this arises an argument: whether it is better to be loved than feared. I reply that one should like to be both one and the other; but since it is difficult to join them together, it is much safer to be feared than to be loved when one of the two must be lacking." – Niccolo Machiavelli in his book "The Prince."
However counterintuitive it may seem, Machiavelli's timeless advice is just as applicable today as it was almost 5 centuries ago when he wrote it. One only has to look at the situation the United States faces today to see the futility of trying to make nations “love” us.
Consider Kuwait. In 1990 they were invaded by Iraq, their country was looted and pillaged, and would have been destined to be a colony of Iraq for the foreseeable future…except for the United States. We led a coalition that liberated Kuwait during the Gulf War. So does Kuwait “love us”? No, in fact they don´t. Publicly they´ve said that they don´t support an American invasion of Iraq.
What about our long time “friends” in Saudi Arabia? They were next on Saddam Hussein´s agenda after Kuwait and our attack on Iraq saved Saudi Arabia as surely as it did Kuwait. Furthermore, we´ve had troops in Saudi Arabia for over a decade now to protect them from Saddam´s armies. So do they “love us”? Not in any way, shape or form. They´ve been loudly, publicly, uncooperative with the US and they´ve said they don´t support a US attack on Iraq either.
What about nations in the Middle East that get massive amounts of aid from us like Egypt and Jordan? They don´t support us. What about our Western allies in Europe who we saved in WW2, rebuilt with the Marshall plan, and then protected from the Soviets for almost 5 decades? Other than Britain, they have as of yet declined to support moving the war beyond Afghanistan.
And what of Afghanistan? We funneled billions in aid to Afghanistan in the 80s and without our help, the Soviet Union would have swallowed them whole. Furthermore, before September 11th they were the top recipients of US humanitarian assistance despite our very public differences with them on human rights and terrorism. I think everyone knows how they repaid us for that.
So how can it be that all these nations that should have cause to “love us” have no desire to help us beyond the absolute minimum they think they can get away with? Machiavelli had an answer for that as well…
“One can make this generalization about men: they are ungrateful, fickle, liars, and deceivers, they shun danger and are greedy for profit; while you treat them well, they are yours. They would shed their blood for you, risk their property, their lives, their children, so long, as I said above, as danger is remote; but when you are in danger they turn against you”
It´s one thing to have a super power at your back if you run into trouble and it´s quite another for that super power to ask your nation to put it´s men and treasure at risk in foreign lands. Few of our “allies” even want to give us diplomatic support for expanding the war out of fear that it may make them targets of terrorist attacks. So “love” promises us very little beyond Afghanistan.
But what of “fear”? First of all, we can make a case that Bin Laden orchestrated 9/11 because he thought we were a paper tiger, in effect because he didn´t “fear”us enough. Of course, it´s easy to see how he came to that conclusion. We pulled out of Lebanon in 1983 and Somalia in 1993 after taking casualties and our responses to terrorism in the last two decades were flaccid, weak, and ultimately ineffective other than Reagan´s vicious bombing of Libya in 1986.
But our reaction to 9/11 and America´s invasion of Afghanistan has proved that we are still a power to be feared. What has that done for us? Yemen, Sudan, and Pakistan have made great strides against terrorism. Cuba has signed numerous anti-terrorism treaties since 9/11. Libya has denounced terrorism and biological weapons. Even our old adversaries in Somalia have been very cooperative. But these nations have no “love” for the United States so why are they helping? It´s because they “fear” meeting the same fate as the Taliban.
Even most of our supposed “allies” from this point on will be more likely to cooperate with us out of “fear” than “love.” The leaders of Europe surely know that “troubling” questions will be raised in America if they don´t support us after Afghanistan. For example, what´s the point of NATO if we can´t even get lip service from Europe in a crisis? How much money could we save if we brought our troops home from Europe and closed our bases there? If Europe proves that they aren´t truly behind America, should we start viewing them as potential rivals instead of allies? Those are questions that Europe should “fear” America asking and if most of Europe decides to cooperate, it will be because of those “fears” rather than because of any “love” they have for the United States.
We may also hope that Syria, Lebanon, the occupied territories and North Korea will give in to fear rather than fight us. Of course, they´re not afraid “yet.” But after Iraq and Iran fall, it will very likely be a completely different story.
“Fear” even holds greater promise for us in the future after the main military portion of the war on terrorism is over. After all, what leader in the Middle East wants an enraged super power considering the best way to cause a regime change in their nation? So ideally they´ll prefer eradicating the terrorists in their own countries to facing the United States in the future.
So we´ve looked at what “love” and what “fear” can do for us. That leads us to a final piece of wisdom from Machiavelli…
“One should never allow chaos to develop in order to avoid going to war, because one does not avoid a war but instead puts it off to his disadvantage.”
For the last 20 years we have allowed nations across the world to build terrorist networks largely unchecked except for some ineffective sanctions and a bit of finger wagging. In a world where rogue nations are developing weapons of mass destruction and are cultivating relationships with global terrorist organizations that can be used as human delivery systems, we can no longer afford to stick our heads in the sand. The only sane choice is to stop them, militarily if necessary. Pursuing this course of action is going to mean vociferous, shrill, and unending condemnation of America at worst and a general dislike of America in many quarters of the world at best for as long as the fighting continues. As distasteful as that might be to many of us, it´s much more important right now to instill “fear” in nations that seek to do us harm than to seek “love” and adulation that would eventually come at the price of countless American lives.
You probably don't suck things that long either or I'd ask you to do something for me.
I'll let the Wall Street Journal do my talking for me...
REVIEW & OUTLOOK JUNE 26, 2009
The Albany-Trenton-Sacramento Disease
How three liberal states got into deep trouble with 'progressive' ideas.
President Obama has bet the economy on his program to grow the government and finance it with a more progressive tax system. It's hard to miss the irony that he's pitching this change in Washington even as the same governance model is imploding in three of the largest American states where it has been dominant for years -- California, New Jersey and New York.
A decade ago all three states were among America's most prosperous. California was the unrivaled technology center of the globe. New York was its financial capital. New Jersey is the third wealthiest state in the nation after Connecticut and Massachusetts. All three are now suffering from devastating budget deficits as the bills for years of tax-and-spend governance come due.
These states have been models of "progressive" policies that are supposed to create wealth: high tax rates on the rich, lots of government "investments," heavy unionization and a large government role in health care.
Here's a rundown on the results:
Government spending as economic stimulus. State-local spending per capita is $12,505 in New York (second highest after Alaska), $10,136 per person in California (fourth) and $9,574 in New Jersey (seventh).
Has all this public sector "investment" translated into jobs? Not quite. California had the nation's third highest jobless rate in May (11.5%). New Jersey and New York had below average unemployment rates in May compared to the national average of 9.4%, but one reason is that so many discouraged workers have left those states. From 1998-2007, which included two booms on Wall Street, New York and New Jersey ranked 36th and 31st in job creation. From 2000 to 2007, the New Jersey Business & Industry Association calculates that nine out of 10 new Garden State jobs were in the government.
Soak the rich. Mr. Obama plans to pay for his government investments through higher tax rates on the top 1% and 2% of taxpayers. Our troika of liberal states are champions at soaking the rich. The state-local income tax burden, according to the Tax Foundation, is the highest in the nation in New York, second highest in California and sixth in New Jersey. New York City boasts the highest business tax rate, 17.6%, according to a study by the American Legislative Exchange Council. Seven of the 10 highest property tax counties in America are located in New Jersey.
Instead of balanced budgets, these high taxes have produced record red ink. California's deficit for 2010 is projected at $33.9 billion, New Jersey's $7 billion and New York's $17.9 billion, despite multiple tax increases this decade. The Manhattan Institute finds that three-quarters of the loss in revenues this year in Albany is a result of reduced income tax payments by rich people even though the state keeps raising taxes on high earners.
California's debt burden has multiplied so fast that it now has the worst bond rating of any state, and Governor Arnold Schwarzenegger and state legislators are pleading with Washington to command the other 49 states to pay off its IOUs. The interest rates on Golden State bonds have nearly tripled in the last two years.
Powerful unions. Mr. Obama believes union power is a ticket to the middle class. The middle class is getting creamed in all three of these "progressive" states, where organized labor is king. The unionized share of the workforce is 20% in California, 19% in New Jersey and 27% in New York compared to 13% across the country. All three are non-right-to-work states, have super-minimum wage requirements and provide among the nation's most generous public-employee pensions.
Workers in these paradises are indeed uniting -- by leaving. New York ranks first, California second and New Jersey third in moving vans leaving the state. A study by the National Institute for Labor Relations Research found that over the past decade these and other high-union states (mostly in the Northeast) had one-third the job growth of states with low union penetration.
Government health care. New York, New Jersey and California are among the leading states in government spending on and intervention into the medical market. A 2008 study by the Pacific Research Institute ranked the states on the basis of government regulation of health care and found that New York is most regulated, while New Jersey ranks sixth and California seventh. "New York," the report declares, "suffers from government health programs that are out of control, a grossly overregulated private insurance market and almost completely uncompetitive provider markets."
Have government controls and Medicaid expansions ("the public option") lowered costs? Here is what the American Health Insurance Plans found. For family coverage annual premiums in 2006-07, the national median cost was roughly $5,300; in California it was $5,884, in New Jersey $10,398, and in New York $12,254. New York's coverage mandates cause families to pay more than twice what they do in other states for insurance.
As a result, California and New York have more than one-third of their residents uninsured or in Medicaid -- much higher than the national average of 25%. More government involvement in health care in California, New Jersey and New York has raised costs and often reduced private coverage. That's hardly a model for the nation.
* * *
So goes the real-life experience of progressive governance, with heavy tax burdens financing huge welfare states, and state capitals dominated by public-employee unions. Formerly rich states, they are now known for job losses, booming deficits and debt, wage stagnation, out-migration and laughing-stock legislatures. At least Americans have the ability to flee these ill-governed states for places that still welcome wealth creators. The debate in Washington now is whether to spread this antigrowth model across the entire country.
http://online.wsj.com/article/SB124597150183556945.html#mod=todays_us_opinion
President Obama is on now. He's using the California economy as a great example of a green economy!!!! A model for the rest of the country!?!?!?!?!
They're fucking going bankrupt!!!!!!
I wish some of these Democrats would take ECON 101. I just saw the President's weekly address. He said the best thing about this bill is that it won't cost us anything because it is going to be paid for by the people who are currently polluting our country.
Ya, and of course none of those costs are going to be passed on to the consumer. They just don't get it. We pay for everything.
Coal-fired power plants produce a lot of carbon dioxide so they will have to buy a lot of permits. That will drive up the price of electricity while lowering the demand for coal.
West Virginia has 223 mines spread through its three congressional districts employing nearly 35,000 people. The industry pays nearly $2 billion in wages every year with an average salary of almost $63,000.
Like it or hate it, the coal industry is important to West Virginia.
The Wall Street Journal opined Thursday that “certain regions and populations will be more severely hit than others—manufacturing states more than service states; coal producing states more than states that rely on hydro.”
The Journal also says “low-income Americans who devote more of their disposable income to energy, have more to lose than high-income families.”
Congressman John Dingell (D-MI) said during a house committee hearing last April, “Nobody in this country realizes that cap-and-trade is a tax. And it’s a big one.”
There are other concerns about cap-and-trade.
For example, even if the idea works and CO2 levels are reduced, the accompanying climate change will amount to a miniscule decline in the rate of projected temperature increase.
Meanwhile, India and China (the world’s largest emitter of greenhouse gases) are building hundreds of new coal-fired power plants with no guarantee they will control their carbon emissions.
Can you believe the Coal Miner's union backed the democrats???
What morons.
You are simply naive. You think China and India will raise their cost of energy to help out the world because the U.S. is doing it?
One of our biggest advantages has been the ability to produce cheap electricity and move it over long distances. We raise the cost of energy and the price of everything goes up. Manufacturing jobs will pour out of this country. They will go to China and India. The midwest will have unemployment go over 20% and stay there. This recession will last another 10 years until someone figures out what happened and fixes it.
I agree we need to free ourselves from oil for strategic reasons. A good way would have been to spend the stimulus money building natural gas refueling stations all over the country. Switch cars over to natural gas, it's not totally clean but it burns a lot cleaner than gasoline and we have tons of it. That would have created jobs and freed us from the middle east, plus the drop in oil prices would screw the Russians too.
This current energy bill is idiotic. We're shooting ourselves in the foot.
ELX Futures Exchange is going to make this a $20 stock in a year or two IMHO...
BGCP owns 25% of it...
Who We Are
ELX Futures, L.P. (ELX Futures) is a new fully regulated electronic futures exchange established by leading financial institutions. Starting July 10, 2009, with a slate of four U.S. Treasury futures contracts, ELX Futures will allow for market arbitrage, outright and spread execution and cash/futures basis trading through multiple front ends and an ultra fast matching engine
ELX Futures’ Notables
With major firms linking ELX Futures’ prices with other related cash and futures markets’ prices, ELX will provide competitive market prices at lower cost. Users meeting a low Average Daily Volume threshold of 401 contract sides will pay fees of 9¢/side, including clearing. Block trades have no fee surcharge, and must meet a minimum volume of 1000 contracts in Notes, and 500 contracts in Bonds. There are no EFP or Give-Up surcharges. Basis trades have ultra low latency since the BGC cash market and ELX Futures exchange are collocated and share the eSpeed platform
http://www.elxfutures.com/
July 10th ELX Goes Live!!!!!!
SQNM calls are seeing interest with strength in the underlying stock following rumors of a positive resolution regarding the SEQureDx launch with 8.3K total calls trading vs 150 puts. Most notable are the SQNM Jun 4 calls (volume: 3090, open int: 7410, implied vol: ~200%, prev day implied vol: 137%)
SQNM getting some volume. No news that I can find.
AAPL Stopped out on second half. eom.
AAPL - Took 1/2 @ $141.60 for +.30
Moved stops up to break even ($141.30) on second half.
Long AAPL @ $141.30 Conference starts at 1PM. Looking for a pop into it. Will be selling by 1 pm no matter where the price is.
Stop loss @ $140.90
OUT FUQI @ $15.30 for -.05 Still looks like a cheap stock but I bought based on it making the IBD 100 which it did not do.
Still trying to figure out why it didn't make it.