I’m taking a few days off. If anyone emails or posts I won’t be able to respond immediately. I’m going to attend a seminar given by the CBOE and Dan Sheridan. There are some excellent webinar given by Dan on the CBOE web site. And they are all free. In my opinion they are some of the…
Month: February 2009
Stocks bounce on Obama hope
Stocks bounced sharply today on hope. Stocks seemed to rally near the end of the Bernanke comments to Congress. Here are a couple of remarks in the London Financial Times. Stress tests of big US banks that start this week are unlikely to lead to any of them being seized by regulators and nationalised outright,…
Market continues lower as new administration fails to inspire confidence
The stock indexes started the day on a positive note, but as the day wore on and comments by those in power made it clear that the new government is really winging it, the markets succumbed to the gravitational pull of the primary trend. Sentiment is about as bearish as I can remember, and I…
How to track H.R. 1068
Here is a link for those who want to track the progress of H.R. 1068. As I write this post it has only been referred to committee. There are several more steps before it gets to Chairman Obama. Hopefully this bill will die along the way, that is if any common sense should prevail. Here…
Should traders be worried about H.R. 1068 transaction tax?
On Friday, February 13, U.S. Congressman Peter DeFazio, introduced H.R. 1068: “Let Wall Street Pay for Wall Street’s Bailout Act of 2009”, which aims to impose a 0.25% transaction tax on the “sale and purchase of financial instruments such as stock, options, and futures.” To be clear, this tax is not on the profits, it is…