[6:54am ET] As evidence of China’s growing power on the world financial stage, People’s Bank of China (PBC) governor Zhou Xiaochuan has called for a new global reserve banking system, including possibly an International Monetary Fund originated currency to replace the US Dollar. Mr. Zhou should be commended for this paper. I believe that the stability of international trade depends on it.
http://tinyurl.com/cmheqr
The WSJ has reported on this development.
http://tinyurl.com/dkh479
In 2008, China saw 68,000 factories – mostly clothing, shoe and toy makers – go out of business, with the loss of millions of jobs. With the downturn that followed the cessation of trade-related credit from the US in September 2008, the Chinese government reported that 20 million jobs were, in fact, lost. What Mr. Zhou is saying is that the US Federal Reserve banking system is to blame. What he hasn’t said is that he’s mad and not going to take it any more.
That’s next.
Comments
“We hate you guys. Once you
“We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”
Luo Ping, director-general at the China Banking Regulatory Commission (2/11/09)
http://tinyurl.com/d6fqny
Cara 100 Ratings Changes
Good morning.
LLTC - Price Target Raised from $15 to $19 @ FBR Capital Markets. Underperform Rating.
Yes, I recall this
Yes, I recall this conversation that's been had elsewhere. Someone here suggested from a conversation with a friend that the Chinese would seek gold. It appears that they seek a change of monetary policy more enduring. So the US empire slowly unwinds...
china and gold
china has been insinuating for years that they wish to devolve from such a heavy US treasury position in their reserves.
gold-bugs have equally insinuated for years that the chineese will be and are massive buyers of gold which will rocket the gold price as the US dollar's supremacy is supplanted.
this statement is only unique in the level of authority is comes from this time.
such comments should be bullish of gold yet we sit down to $928 as i write this.
again i think there is much more at play than simply a dilution of china's reserves away from US treasuries. why would they tip their hat so handily, if and when they wished to purchase other currencies and/or gold it would be done at much higher prices if the entire world knew what they wanted to do.
i think the line is much more blurred w/ respect to what china is saying and what they want. those hoping to play the trade on the perceived implications of these comments may get burned.
if gold was up on this news we all know many would attribute it to this story. whats the rationale now? short term moves dont reflect longer term reality only when they go against your logic?
careful, china hasn't become one of the oldest uninterrupted cultures in the world by being predictable.
good luck,
Cara 100 Update
INFY - Downgraded to Negative @ Susquehanna Financial
The Empire is unwinding inso many directions!
Today I read that President Obama , has sent a letter to the former president of France,telling him that Obama hopes to work together with Jacques Chirac over the next four years . Would it not be more competent to send to send such a letter to Nicolas Sarkozy the present leader of France, rather than a former presidenthttp://tinyurl.com/dmehco http://tinyurl.com/ddazlr http://tinyurl.com/cq52lo
China’s growing power
As Bill said, "What Mr. Zhou is saying is that the US Federal Reserve banking system is to blame. What he hasn’t said is that he’s mad and not going to take it any more."
IMO, Mr. Zhou is completely justified and is (typically of the Asian politeness) understating his true meaning. (Luo Ping tells it straight out.)
If we Americans do not make our feelings perfectly (and more forcefully) clear, we may soon be bowing to Mr.Zhou as part of a new government "retraining plan" instituted by our new masters.
They have mastered our system (Most of us are still in the American Dream phase.) and we'd better understand theirs.
Lesson One: Money and power are one.
Lesson Two: Those with the power make the rules and call the shots.
Lesson Three: Those without money and power say, "Yes, Sir!"
http://tinyurl.com/dmehco
http://tinyurl.com/dmehco
Re: China’s growing power
They have mastered our system (Most of us are still in the American Dream phase.) and we'd better understand theirs.
Our treasury sec can speak their language, I think. that might help understand and deal with...
Re: China’s growing power
I fear our Treasury Secretary may be deaf to their language.
They are speaking responsibility, frugality, capitalism. We, apparently, do not hear them.
I imagine we will soon enough.
Screw China
We don't need those guys, we can do it on our own.
2nd I hope your sending your kids to Chinese school so they can learn about their language and culture and not so they will be ready to bow to their new masters if/when the Chinese invade:)!
It's too early in the week for a big correction, I think the bulls will claw back today.
I heard it from a little bird that Kaimu may be adressing the audience this weekend, speaking on a topic near and dear to his heart. The talk will be entitled:
Government and you, working together to create a smaller, fairer world:)
I don't get what gold's doing at all right now. The Chinese should have scared the bejeezuz out of the dollar and goosed gold.
BTW today may not be the day, but remember General Moly (GMO)?
It's starting to look good again. Maybe not today but soon. Heck the darn thing's already made quite a move, but I'm not accustomed to buying actual penny stocks.
gold
Gold is liquid, it gets sold on mkt rallies because banks are running up 20-30%. Who wouldn't take that and then buy the gold on the resulting dips?
Also, see Twiggs today, technically we need to test the trend line.
"Spot gold made a sharp upward spike four days ago, in response to Fed plans to expand the money supply. After testing the band of support between $890 and $900, the market rallied on the same day to a high of $940. The strong reversal signals another rally to test $1000. A short retracement that respects the rising trendline would confirm. Failure of support (between $890 and $900) is unlikely, but would warn of a down-swing to test $700."
Re: Screw China
"I don't get what gold's doing at all right now. The Chinese should have scared the bejeezuz out of the dollar and goosed gold."
--------
exactly SA.
trust that newsletter writers will be awash with pro-gold comments thanks to china's recent commentary. too bad the short term doesnt confirm the logic of this theory.
which begs the question if gold will really benefit from all this or if last week's move was just a short term jump before a return to sub $900 basing.
if gold cant sustain an upward move following last week's announcement, then something is seriously wrong in teh gold market imho.
the fed will continue to print, purchase treasuries, the US dollar may stay range-bound while europe sinks and gold continues to make us scratch our heads.
i firmly believe gold will need to move up and beyond $1000 with some power to really get things going, otherwise last week will look like nothing more than a head-fake.
gold stocks may tip our hands as to whats happening going forward if they can continue to do well along side an equity rally.
but i doubt that will happen if gold keeps falling.
Re: China’s growing power
craig
"They are speaking responsibility, frugality, capitalism. We, apparently, do not hear them"
I heard Larry Kudlow telling us that free market capitalism featuring huge US government subsidies for oil, nuclear, defense, and Wall Street is still the best path to prosperity
Pre-Market
*Crack, CRACK*
(me with whip). Get down ya varmit, gidown. No rallying until I'm back.
gold is money
I actually sold off some of my gold ETF so I could buy some equity (I forget which one).
I'm guessing that's all this is right now.
Cara 100 Update
DIS - Downgraded at Goldman Sachs to Neutral from Buy based on valuation and near-term content cycle. Company is well-positioned long-term, but trades at a 25% premium to peers despite tough near-term outlook. Note that Q2 results could disappoint. Price target lowered to $20 from $26
FSLR - AmTech Research Initiates Coverage with a Buy. Price Target = $184
WAG - estimates cut through 2010 at Jefferies. Company being hurt by the macro environment, and continues to spend on remodeling. Hold rating and $25 price target.
-----------
Other Stocks Of Possible Interest:
AU & GFI - Both Downgraded to Underperform @ Credit Suisse
Re: Screw China
shark- We're sending them to Chinese school to learn the language. And we hope they'll be 'bowing' to both masters and servants until they know what they're doing, as it's pointless to be telling anyone what to do when one is clueless.
SLW @ 7.86
...
GATA's Bill Murphy on Bloomberg tonite
Apparently Murphy will be interviewed on Bloomberg tonite. Great timing for the Cara Bahamas 2009 Conference. Bill will be our luncheon speaker on Saturday.... and yes, I sent him a work permit. :-)
I bow to no man
I do however owe a nod of gratitude to Vadym for teaching me to play Dryships, which I just did to good effect.
The selling early part was my idea:)
Re: China’s growing power
Vinod...you heard Kudlow say WHAT?
Free market capitalism features huge government subsidies?
Kudlow = moron.
CTAB performance
FYI, over the past four months since start-up, CTAB Growth accounts are up to $107 on a base of $100, vs S&P at $91.
ERX adding @ 27.30
...
Chinas' call for a new currency
The Chinese government has been trapped by its' own greed and is now complaining that some action has to be taken to save them.
Re: Chinas' call for a new currency
"The Chinese government has been trapped by its' own greed and is now complaining that some action has to be taken to save them."
How much bailout money do they need and in what denominations?
Re: Chinas' call for a new currency
Exactly CP!
The "Chinese" are greedy? Are we kidding?
Are the Chinese acting completely irresponsible? Running up insane debt they can't pay back? Devaluing their currency to rip off other countries by paying with wooden nickels?
No....China is being generous and a lot stupid, treating GREEDY Americans with respect while the Americans seek to cheat them.
If that is greed, it's a kind of greed not seen before.
As soon as GS went green i notice money flow back into financial
Lets see if this lasts.
Re: ERX adding @ 27.30
Nice. This rally isn't over yet.
Re: As soon as GS went green i notice money flow back into ...
and JPM are the keys for now. And XLI just turned green. That's what I'm watching.
GMO
Get long some general moly boys
Re: China’s growing power
Craig, at last we have totally common ground!
Free market capitalism features huge government subsidies?
Kudlow = moron.
This guy was hyping Enron up to the time he had to return a $50,000 "consulting fee."
GOLD?
I think we are in a sort of surreal period under which most people are still being lulled into expecting a return of the American Dream Part ll. Wall St. wants us to buy into a return to the "normal" borrow & spend mentality .
CNBC and MSM (where many get their views) promote the idea perpetually.
Traders are taking advantage of the ups and downs as gold has still not been recognized as the way to go for protection quite yet.
People "want to believe" it will be over soon. We have a government which has resorted to what Hitler found works very well with the masses... "The Big Lie" is an easy way to get what you want.
It took a while for any major objections to Constitutional infringement under George W. and today's administration is still more concerned with the "Constitutional rights" of the prisoners once known as "Terrorists" than with the violations of Article One, Section Nine.
If people finally realize the bailouts are the largest-ever, taxation without representation (from a go-along Congress, Fed, SEC, etc.) we may get the level of outrage to get "Change We Can Believe In" at last.
Re: Chinas' call for a new currency
"Are the Chinese acting completely irresponsible? Running up insane debt they can't pay back? Devaluing their currency to rip off other countries by paying with wooden nickels?"
The USD needs to go through a substantial correction phase, I believe this has been synthetically delayed by international monetary policy. US over consumption and under production are the culprits, enabled by the collapsed ponzi scheme perpetrated via the housing bubble. The inflationary pressure we should have been experiencing was concentrated in housing instead of on the USD. Now we are faced with either 1) Economic collapse or 2) USD correction. I think the FED has chosen the latter, but implementation must be managed with caution.
As kaimu would say: DISHONEST MONEY
Re: As soon as GS went green i notice money flow back into ...
Financials being the biggest gainers yesterday, should be the biggest loosers today. Try telling that to AIG PFG or GS BSC.
What a bunch of crap!
Re: GOLD?
What these Government interventionists don't seem to understand is that out here in the real world we have to balance our checkbooks or our house gets taken, our car gets taken, our utilities get turned off. We can't print money and play three card monte with our debt. We either pay it or we lose our stuff.
So, when we see them spending our money in this fashion what is our natural reaction? Is it to go out and charge up more debt and live the posh life? Or is it to hunker down and scrimp and save fearing that Uncle Sugar really will go bankrupt and will not be able to live up to his promises to anyone? So, every further spending proposal and intervention makes us brace for the storm and do anything we can to ensure that we survive in case Uncle Sugar does go under.
Rob.
Dishonest Money
Clarification: Money has no morality, honesty or dishonesty.
It's the people that control money unbacked by anything other than printing paper that are dishonest.
If our currency were backed by precious metals, it would be quite honest, so it isn't money's fault, it's, once again, greedy manipulative central bankers and their lapdogs, politicians. Without them we could trust money.
TNA adding @ 18.22 and ERX @ 26.68
...
Is it just me?
Or is his current job taking a toll on Ben Bernanke's hairline? He used to be bald but now he's starting to look REALLY old:)
reloaded TZA and FAZ
at the open at 50 and 20 respectively and so far so good.
if we don't have a sizable pullback (~10%) in the next couple of days, you can call me moron and I will stop posting. My "career" in TA is short but I have not seen such overbought indicators (I mean ST) in the last 3 years. I guess one would have to go back to 2003? Anyone?
weak hands
Does not appear to be as many as I thought, as they're not able to sell the indexes down very far. But it's still early.
Geithner Goldman Sachs Lacky
It's sickening listening to this guy testify before Congress.
Darkness on the horizon?
Regrettably, recent geopolitical events should make one consider if we have learned anything from the last century. We are faced with a financial crisis commencing with a market meltdown, followed by substantial inaction by governing bodies and institutions. Now we have France re-joining NATO, Russia re-building it's military capacity, Afghanistan and Pakistan becoming the new Iraq and China looking to divorce itself from the US dollar. The stage and many of the actors have changed but what is happening is eerily similar to the 1930's. Economic recovery was a consequence of WWII. If the US, China and others are willing today to shift somewhat from satisfying export demand toward satisfying local demand we can avoid much world conflict. The US must re-industrialize and China needs to meet the needs of it's citizens first. The resulting jobs growth and prosperity will be the greatest stabilizing factor in world politics and finance in the years ahead.
Re: Geithner Goldman Sachs Lacky
number2son,
I am losing faith in the easter bunny. Just sold 1/2 my financials. Thinking it might be time to get out of us dollars.
vb
Re: Geithner Goldman Sachs Lacky
Perhaps I'm fortunate I can't hear Timmy G. tooting his horn, is he off key?
Re: reloaded TZA and FAZ
Jack,
No one is going to call you a moron and what ever happens keep posting. It is good to hear logic from both sides of the trade. Just don't gloat if you are right Yet, is not the circumstances today more like 2003 then any other time.
Re: Geithner Goldman Sachs Lacky
"Thinking it might be time to get out of us dollars."
Vanillabean By selling financials, you just moved to USD.... Choose quality.
aside: Home prices up slightly in mid-Atlantic states.
Re: Darkness on the horizon?
"The US must re-industrialize and China needs to meet the needs of it's citizens first. The resulting jobs growth and prosperity will be the greatest stabilizing factor in world politics and finance in the years ahead."
Good observations - Yes, there's too much trade imbalance.
Re: Geithner Goldman Sachs Lacky
okay,thanks cp.
good point.
Societal Supply Demand Fundamentals
Does society trust the government?
Lets see . . . Society continually re-elects incumbents, approves every bailout program, approves of law upon law and does not hold their stewards accountable for much more than their momentary promise.
Analyzing the supply versus demand, we find there is an excess supply of trust by the people relative to the demand of trust by the government.
Therefore the cost to government for society's trust is cheap.
On the other hand, the cost of confidence has been cheap up until the last year or so. We have seen a spike down in public confidence relative to the demand of government for confidence.
This spike has created a spike in the cost to government for society's confidence. Fortunately, for government, trust is still cheap.
Now, if only there were a way to trade these fundamentals directly. Maybe somebody will start an ETF.
One World Order..
Not to sound too paranoid, but the idea of an IMF reserve currencey being thrown around makes my tinfoil hat crackle.
Seriously, what are the implications of this?
THROWING THE SHOE
you lied to me (attached)
**Edited - sorry, animated gif didn't work**
Re: Geithner Goldman Sachs Lacky
Maybe I missed it. But is anyone in Congress EVER going to demand an explanation from Geithner, Dudley and Bernanke why Goldman Sachs has benefited so disproportionately from their bailout efforts? How it happens that this one institution has outsized influence in the dealings of our government? This is an outrage and someone in government needs to to start making noise about it now.
Re: reloaded TZA and FAZ
One stark difference I see between now and 2003 is that in 03 households and corporation were ready to take on more debt.
Whether households and corporations are willing to take on more debt will be the canary in the coal mine for this market and for our economy. My fear is that people will not take on more debt but will still have to pay the huge government tab they've run up making sure the banks can lend. Many people won't be able to afford the extra burdens placed on them by their government so defaults will start cascading right up to Uncle Sugar.
Rob.
Re: Geithner Goldman Sachs Lacky
And isn't it amazing how little their stock price has been brutalized compared to any other Financial Company on the planet?
Makes you wonder...
Rob.
Re: Geithner Goldman Sachs Lacky
number2son- Why would they do that? Wouldn't that reveal their biggest campaign contributors? The cross-fertilization (and I use that word in the loosest possible terms) of their Boards, Committees, etc? Now that might require some explaning...so why bother?
Sorry to be so cynical about this.
S
Re: Geithner Goldman Sachs Lacky
number2son - "But is anyone in Congress EVER going to demand an explanation from Geithner, Dudley and Bernanke why Goldman Sachs has benefited so disproportionately from their bailout efforts?"
We've been wondering about this for some time now. Do you suppose they haven't noticed, or think we don't know? It's probably only a matter of time, what do you suppose will happen (in terms of effect on market) when/if this question comes to light?
Re: Geithner Goldman Sachs Lacky
At least Brad Sherman is showing Geithner to be the weasel he is. Thank you, Congressman!
Re: GOLD?
Unveiling the heavily cloaked lies, deception and subterfuge of GWB is what BHO is delivering as promised. Imagine the resistance in the halls of power to having their secrets outed!
Bonus season for financials
With the public outrage about the AIG bonus's and with mid cycle bonus season nearing. Look for the likes of GS and JPM to start returning the Tarp funds to get out from under any regulation that may limit the bonus's for management at HB&B. If...there ever is a regulation.
The money games are just starting.
Someone' s playing the game right.
Sotheby's is able to come up with a rationale strategy in face of declining profits. Doesn't sound so hard, does it?
"March 24 (Bloomberg) -- Sotheby’s Chief Executive Officer William F. Ruprecht agreed to a 14 percent pay cut and the elimination of his cash bonus after profit plunged and the auction house fired workers.
Ruprecht asked the board to cut his $700,000 base salary by $100,000, or 14 percent, according to a statement the New York- based company filed to the Securities and Exchange Commission yesterday. The auction house also removed his cash bonus for 2008, which was $2.6 million in 2007."
Audit the Fed
www.campaignforliberty.com/blog.php?view=14040
Re: Geithner Goldman Sachs Lacky
"And isn't it amazing how little their stock price has been brutalized compared to any other Financial Company on the planet?
Makes you wonder..."
No need to wonder. GS is the most important stock in the known universe. The GS chart is ALWAYS somewhere on my screen during the day. I will refrain from saying WHY.
TCK
Darn, I sold my TCK by accident trying to raise my sell limit...!
Re: TCK
CP - Darn, I sold my TCK by accident trying to raise my sell limit...!
I guess that's what you might call TCK-nical difficulties. :)
More than once I've sold something I just bought by accidentally putting in a limit order instead of a stop limit.
BAC turning green...
C, JPM, WFC looking better...
Re: TCK
Yes, I meant stop limit. I did just that, entered a limit order instead of stop limit and of course it sold instantly. I bit my lip and bought it back now I'm up another $160. Got my stop limit set up as well.
Re: SLW @ 7.86/out @ 8.25
still holding a core position
Guys it's not too late to buy
Guys it's not too late to buy General Moly
Re: Darkness on the horizon?
I agree with your observations and solutions, but think it is more likely we will see trade wars followed by more shooting wars a big contributor leading up to WW2. We put 16 million people in uniform most of whom were young and unemployed for WW2.
We're far below the troop numbers today, but our expansion of the Afghan war into Pakistan will gives us the "opportunity" to delay bring a substantial number home where there are no jobs for them.
The Mexican border states have asked for military presence there. At first it will be in a support role (think Viet Nam advisers), but could easily take on active combat duties.
Simply legalizing and regulating drugs could solve that problem and also cause Afghanistan's farmers to plant food crops, but...
Financials moving again.
just an fyi
And I told you the bulls
And I told you the bulls weren't dead this morning as well.
Re: SLW @ 7.86/out @ 8.25
Nice trade.
Man I be loving this market today
Re: FAS @ 5.01/paring back @ 7.34...
Still bullish
GMO
Good choice sharkie! I've got plenty of other somethings to juggle at the moment.
Re: And I told you the bulls
"And I told you the bulls weren't dead this morning as well."
shark- Right on, man. The ones that are still alive are just now returning home from the hospital.
Re: And I told you the bulls
2nd... that's 3 keyboards, and counting.
If you intend to keep that up, you better incorporate this expense in your monthly budget planning.
Re: And I told you the bulls
Vad- Did you say MY budget?
Daytrading technique
The following has been working very well for me today.
Working from weekly 30-minute charts, I identified several stocks & etfs in clear uptrends, as manifested by their 30-minute EMA(12) having crossed above their 30-minute EMA(25). Of these, I focused on those having pulled back such that their 30-minute CCI(20) was in the zero to -100 range.
For those matching the above criteria and working from an hourly 1-minute chart, I made sure that the 1-minute EMA(12) was above the 1-minute EMA(25) and that the SAR(.02,.05,.02) was below the price bar, indicating intact upward momentum. I then waited for price to pull back to the 1-minute EMA(25), at which point the 1-min CCI(20) was generally in the zero to -100 range. I bought at the EMA(25) price, with an immediate and fairly close stop placed at the EMA(50). Stops were then trailed higher just below the lower of the two most recently completed two one-minute bars.
Positions were reentered if/when the criteria above were again met.
This technique has worked especially well thus far today with ERX, BAC, DOW and FAS. Not advice. DYODD. YMMV. Good hunting! ~OG
Re: And I told you the bulls
Whose else... it's you who will be sending me replacement keyboards, no??
Pretty nice horoscope for this coming Friday before CTAB Bahamas
I kid you not, this is my upcoming Snake chinese horoscope for this coming Friday.
"You might want to review your finances and you may come up with a better idea for getting a higher rate of return on your investments. By participating with a group of people who share the same interest as you, you could have an enjoyable time and an opportunity to make new friends."
Re: And I told you the bulls
Hey man..my blogging contract includes a no-liability clause should my posts result in the involuntary forceful exhalation of liquids...
Re: Pretty nice horoscope for this coming Friday before CTAB ...
>I kid you not, this is my upcoming Snake chinese horoscope for this coming Friday
tsk, tsk. And if I tell you that the snake horoscope I just read suggests horror at great heights, will you still take that plane to the Bahamas?
well, will you...?
;)
snake oil salesmen, those horoscope writers.
Re: And I told you the bulls
What's contract these days? :)
Re: Pretty nice horoscope for this coming Friday before CTAB ...
agreed. its just for fun.
Re: And I told you the bulls
RE:>Hey man..my blogging contract includes a no-liability clause should my posts result in the involuntary forceful exhalation of liquids...
perhaps a taxpayer funded asset replacement program might be in order. Who's our contact in Washington?
Re: And I told you the bulls
Vad- I should have expected that from someone who uses 2x4s as teaching tools ;)
gold & silver
Gold and silver are both moving up now. Its times like this I would like to have some kind of live news feed... :)
Re: gold & silver
Dave,
I believe it was this headline at 14:30 that did it:
NY FED: WILL BEGIN OUTRIGHT PURCHASES OF TREASURIES TOMMOROW; TO BUY MATURITIES BETWEEN FEB 2016 TO FEB 2019
Re: And I told you the bulls
2nd - How about sending Vad replacement decals for his keyboard?
http://www.thekeyboardcompany.com/servlet/the-Keyb...
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." -Dr. Seuss
Re: And I told you the bulls
Are you trying to say Vad needs to exercise mind over matter and hold it in?
Re: And I told you the bulls
They probably offer a transparent liquid proof cover or one with characters printed on.
http://www.protectcovers.com/?gclid=CICtzbCevJkCFQ...
Re: And I told you the bulls
Or exercise matter over mind(s) with the 2x4?
Tough Day to Trade
I bought MEE at 12.40 and sold at 12.60. Sold SLM at 4.26 that I bought at 4.40 yesterday. Sold BA at 36.25 that I bought at $34.3 yesterday. Sold FRX at $22.1 that I bought at $21.87.
Bought FAZ at $18.90 and holding tight for now.
FAZ
Just took a nice quick ride; same technique as described above.
Realtime News Feed
http://www.rttnews.com/Apps/deskalert.aspx
Paper Gold
The governor of china's central bank has proposed a form of paper gold currency backed by basket of currencies. Presently the Middle Kingdom has only a 3 percent vote in the IMF no more than Belgiumhttp://tinyurl.com/dgkjb7
Re: Daytrading technique
congratz old goat--I seem to have sold the farm, or at least a good part I bought yesterday today. yuck!
S
Re: FAZ
I took a ride the other way. Entered my first stop-sell order and sold at $7 USD. This day trading thing is not for me. :) Another advice I say to my colleagues: buy what I sell and sell what I buy.
Gonna stick to plan-your-trade and trade-your-plan. Sold Goldcorp at $40.30 CAD and bought back at $40.80 CAD. Posted yesterday that I planned not to trade it anymore, but to write puts on sharp pullbacks. Good thing my average cost is below $25 CAD.
Gonna close my brokerage quote window and this forum post page so that I can concentrate on my day-job. :)
Re: Daytrading technique
Thanks! My best day in a long time; made even more than CTAB made for me yesterday!
Re: gold & silver
Hehe yes I suspect you are right. :) Bloomberg's main page didn't have that headline when I checked at 14:37, but they have it now. Sigh. I guess I have to pay for realtime news. Vad, how do you get your news?
Re: gold & silver
Dave - Did you miss my post above?
http://www.rttnews.com/Apps/deskalert.aspx
Re: gold & silver
I pay :)
Monkey!
Would nice to end green on S&P
Re: Monkey!
2nd that.
ERX
Giving in a try from 28.00; close stop.
[edit: Stopped out.]
weird
not used to seeing the miners rally while the metal settles in.
lets hope this run has some legs.
HGU @ 14/ POG @ 929
the miners:gold ratio is starting to look good.
lets hope we can clear overhead resistance @ 960
TNA Adding @ 17.69, and ERX @ 27.48
At the close adding TNA @ 17.03 and ERX @ 27.03.
Re: gold & silver
I took a look at the site - and they definitely have a lot of news - but I didn't see the news item that Vad saw at 14:30. Is the feed that you get from the app different from the one the website provides?
Maybe a better question is, do you feel well informed??? :)
Re: Tough Day to Trade
I still hold my FAZ barely above the stop. It's not doing as well as TZA. Lot's of people buy banking on a dip. Not sure if
one should consider that bullish or contrarian.
FAS 2nd?
Alrighty 2nd, we're heading into the close and financials are down, are you adding FAS or holding?
9.13xlf/811 S&P
Re: FAS 2nd?
Just holding what I have. Actually, a buy limit of 6.25 just hit, for half of what I pared back on earlier.
Re: FAS 2nd?
Thank you. Just wondering as we'll close above 803 unless all hell breaks loose in a few mins. Maybe I'll just wait until tomorrow AM premkt.
Re: gold & silver
I know you would like to have been short TBT right about then, Vad.
Re: gold & silver
Or long TLT
FAS
bought at 6.08 to partially hedge the FAZ i hold.
Also moved 25% of my LT retirement account into the S&P 500 index fund at close, which I planned on doing yesterday but the market ran too high.
ADD TNA
buy 200 shares TNA
03/24/09 15:58 Filled 200 at 17.058
ALSO PLAYING IBB AGAIN
Geithners backup plan
Don't need one cause this plan will work.
Need will, work with congress to make sure they do it to scale that will make it work (multi trillions I'm guessing).
All this to bring interest rates down, cause apparently that will solve everything.
found through calc risk:
http://tpmdc.talkingpointsmemo.com/2009/03/geithne...
healthy day vs another up day
Def profit taking but i dont mind as its healthy, as the selling was not professional. I am saying this by looking at volume.
I personally think the uptrend is still in place but am cautious and will sell if short term support levels on S&P are broken.
HND.TO
Man it is tempting to go short natural gas. Look at this chart, the 50DMA forms an almost perfect downtrend line that has consistently rejected rallies, and we sit below it right now after last weeks monster rally:
http://stockcharts.com/h-sc/ui?s=hnu.to&p=D&yr=1&m...
edit: it's amazing to look at HNU and HND side by side. You would have no idea those two are supposed to trade against the same underlying commodity!
http://stockcharts.com/h-sc/ui?s=HDU.TO&p=D&yr=1&m...
Re: And I told you the bulls
Ahh that pesky bear. . . never count him out.
GS plans to return TARP funds by mid-April
Just before the next round of bonuses go out right?
Can we expect them to return the taxpayer money they received funneled through AIG?
Rob.
Re: One World Order..
Ramses,
I remember a couple of years ago making a jocular comment here about there being a Star Chamber in the basement of GS where ex-GS minions such as Mark Carney ( now Governor of the Bank of Canada ) would be put to task for not following the program towards One World Government. Those bankers who created the financial crisis are still in power - either at HB&B, the Fed or Treasury - so I would expect that should it come to a world reserve currency operated by the IMF we can expect the same gang to be in control there.
ELIMINATE THE FED!
TAKE BACK CONTROL OF THE TREASURY! ( It's the people's money )
that one-day wonder rally . . .
. . . is dead, boys.
Give the Money to Sheila Bair
Can't we solve this crisis by giving Sheila Bair and the FDIC the Trillion dollars (or maybe less) to go and take these banks into receivership and replace their crooked, lying management? Then all we'd have to worry about are the crooked, lying politicians.
Re: that one-day wonder rally . . .
". . . is dead, boys."
Elaborate? I'm on the fence here after hours...
Re: Dishonest Money
Craig
Your clarification quote on money and morality is spot on!
CP,
The usd has already crashed from 2002-2008 now it will have it's day of reckoning.
Once or I'd the economic collapse happens the usd will do the exact opposite of what we think. IMO it will get very strong versus other currncies because fiat supply will vanish and very little dollars will be left compared to what was before. Oh of course by this time any debt issued will get pumped right into the economy and we will see the hyper usd dollar collapse and gold wins.
AXP
i know how bad their credit card loan business is doing, but you should keep in mind that they have a network all to themselves that brings in tons of cash by being a middle man in every credit card transaction...just like MA and V. This alone, in my opinion, will keep them from going under and in 5/7 years they could be a $60 stock again.
Re: Dishonest Money
norm - So in general, how are you trading the chain of events... are you short something at the moment? What was the average rate of inflation from 2002 through 2007, maybe 3%? We could call 2008 a USD crash, but it recovered much of the loss.
Re: HND.TO
edit: it's amazing to look at HNU and HND side by side. You would have no idea those two are supposed to trade against the same underlying commodity!
That's because you plotted HDU instead of HND as your second chart! The HNU and HND inverse quite well.
Re: HND.TO
Doh!! in too much of a rush, good thing I didn't trade on that (mis)information :)
Re: HND.TO
Yep, Dave already beat me to it, wrong chart, slip of the fingers HDU instead of HND.
Anway here is a comparison chart of the two together.
http://stockcharts.com/h-sc/ui?s=HND.TO&p=D&yr=1&m...
Here's my chart, with notes on HNU.TO, note I also use PPO rather MACD, its much better for time scales where the price has changed significantly. Its just the MACD but in percentage terms.
http://stockcharts.com/h-sc/ui?s=HNU.TO&p=D&b=5&g=...
I'm watching Nat Gas closely and I do own HNU.TO, just slightly above where it is now.
MFI-Miami Launches
MFI-Miami Launches Investigation into Wachovia Mortgage’s Practices
http://tinyurl.com/ckeccg
Re: MFI-Miami Launches
To BAD it isn't CSI MIAMI. Then David Caruso could book those punks!
Rally
2nd
Everyone was excited about yesterday’s rally. Was it because of FED buying up S&P future to make geithners plan looking good?
He did not say how to price these assets, 25 cent on dollar bank will under and to pay full price people will be mad.
Will public will buy the idea of paying full price now and hold until maturity hoping the assets will recover? There are many question and no answer but They might fast track the plan to clear the banks Q1 balance sheets before they are due. And that might force Window Dressing by portfolio managers who missed the rally to jump in because end of quarters is approaching. Market move-up is based on the expectations that the recovery is approaching. There are signs of improving such as home sales and consumer sentiment Index.
So, where will FAZ going to be when city is at 6? I expect FAZ undr 10 by month end
Wednesday Preview
http://ronsen.blogspot.com/2009/03/more-charts-mer...
A look back via the 60 and 10 minute charts.
Trade Universe/DeMark matrix with a dominant NR7 (narrowest range of seven days) price expansion setup
Re: Geithners backup plan
Wow, that guy just plain scares me. That's the same level of arrogance that all of these jokers on Wall st. (and many in the beltway) seem to have had all along. But I've been hearing that same story from them for months now, with seemingly no effect and trillions already spent. And it's the same engineers still at the wheel. What's in plan A for the taxpayer anyway other than more fleecing? Do you really think government would cut taxpayers a check in the off chance that junk actually turned a profit?
I realize what Bill means when he says traders trade prices because it makes a ton of sense in this wickedly volitile environment (for ST traders), but how does the average working guy like me trade a 401K in this chaos, which is where the bulk of our money is? The truth is we can't. We can only invest. And that's by design from these very same people. But buy and hold clearly didn't work either and Americans know it now, they know they've just been fleeced and in fact I would imagine many have cashed out by now or at least parked it in money market type funds. I did that in November of 2007 thanks to Bill and others here but I'm not feeling bullish at all and have re-deployed none of it and see no compelling reason to do so.
Most of these politicians and financial "gurus" are millionaires and billionaires (thanks to us) that don't produce anything and are insulated from what the average American is feeling right now. You know, the ones that unwittingly actually had to eat their losses for them.
But they are proposing a plan to again encourage the same risky behavior from an already horrified and bunkered consumer that by design is intended to get people to go into debt to them once again to "stimulate" the economy. Who in their right mind will do that other than the same NINJA type borrowers they used to begin with? These people are insane IMO.
Re: Keyboard protection & replacement
Vad, 2nd_ave,
Vad I think you need a keyboard condom, but I recommend you don't order it from Dell. They seem to have a problem in their shipping dept. or maybe its just how they make money on these low cost items. Kinda like those TV adds, order before midnight tonight and get a second one for free, just pay separate shipping and handling.
http://consumerist.com/tag/dell/?i=5024525&t=dells...
Check your risk tolerance with this quiz
http://www.investored.ca/Quizzes/InvestorPersonali...
Re: Rally
Vinod- Personally, I think it's time to start looking ahead to the recovery. Bear market rally? Sure. Followed by a retest of the lows? Probably. But I don't think we need to see the big financials go to zero, or the DJIA at 5000. I mean, come on. Isn't getting beaten up to the point of 95% declines enough- why insist on the kill?
My thinking was that FAS/FAZ would cross paths at 14, but now that looks unlikely. FAZ hit the high teens today with FAS at 7.4-> so maybe 11 is a more likely target? I don't know.
I don't think the Fed had to buy up futures to make Geithner look good. I think he hit a single. Let's see if he can at least steal second.
House Financial Services Committe
Watching the 3-hr. c-span replay of today's hearings with Geithner and Bernanke now. Really edgy stuff. Bernanke, particularly, looks exhausted. It's all over the place. Some questions regarding AIG Bonuses, some regarding Goldman-Sachs conspiracies, some regarding the toxic asset plans.
http://www.c-span.org/Watch/watch.aspx?MediaId=HP-...
In my traditional attempt to digest and repackage the issues into a pithy "outside the box" observation, my first thoughts return to a theme that has been discussed a bit here. This is really a different Age: Information at everyone's fingertips via the Internet. The Capital Markets, and how they function, have been exposed. Bill has alluded to the XHTML initiatives underway to facilitate information exchanges in the Capital markets - something to watch for sure. All this change seems to be reaching a critical mass. Where does it all lead us? I don't think people are ready yet for this. Take, for example, the AIG bonus information: It's all Pitchforks and herd mentality in response! Are there historical precedents for these tumultuous changes and how do they turn out?
Re: FAS
Hey there,
Saw your comment on moving into S&P - I have a study of using the 50/200 day moving averages. Simply moving into bonds when 50 crosses to downside and then back into S&P 500 when it crosses above would have generated 30 occurrences since 1950 and would have tripled the return vs a "buy and hold" strategy. Simple and easy to track - kind of a no-brainer. The last "trade" occurrence happened on Dec. 24th, 2007 which consisted of exiting the S&P @ 1487...
Re: that one-day wonder rally . . .
I don't know about that. What if instead it's a 3 month wonder rally that leaves bears 'wonder'ing what the hell happened?
Call for Broker-Dealer Research
As I am putting together a file on Portfolio Strategy for 2Q2009, to be published here, I would very much appreciate receiving any pdf research files anybody can send that you think might help. All the major broker-dealers have produced these reports recently.
Please send pdf's to billcara [at] gmail.com and insert "Research" in the subject line. TIA.
Re: that one-day wonder rally . . .
I agree with CP and 2nd Ave's later comment. Why is this wonder rally dead boys?
A very small pull back was expected. In truth, if we had confirmed with a 2 or 3 % rally today I would've been wondering how far we'll drop on Wed.
Please give us more analysis on this ST rally.
Re: Rally
2nd- OK, I must not be as on top of the news as I thought...What futures purchase by the Fed are you referring to?
My take on the imploding rally? Last night I planned to take profits on a 2% pop, or buy on a 2% drop. So I added. Looking at the tape for the close I see light volume and big gaps in price. These seem to be an over reaction by weaker hands.
I know AH carries little weight, but ERZ got to 27.75 and TNA to 17.29 on what seemed to be good AH volume.
Come on, after the 5th largest point gain in history, we are ready to throw in the towel after giving back 115 points.
FD...25% cash at the close, also added to CE, MOO, and XLB. Is there a better ticker than MOO?!
In excelsius Kaimu: Throw the Bums Out
http://www.realclearpolitics.com/articles/2009/03/...
Re: Rally
Is there a better ticker than MOO?!
How about WOOF!
Re: Rally
Didn't know that one, very good.
Gotta love this one too: Ode to Nero
http://www.washingtonpost.com/wp-dyn/content/artic...
Re: In excelsius Kaimu: Throw the Bums Out
Chris Dodd's top five campaign contributors:
Citigroup Inc $316,494
United Technologies $264,400
SAC Capital Partners $248,500
American International Group $223,478
Royal Bank of Scotland $218,500
Re: In excelsius Kaimu: Throw the Bums Out
Chickie where did you get that. Could you list Obama's top 5 for possible long term hold. As Kaimu says, "follow the money."
Thanks,
Bob
Re: Chinas' call for a new currency
It is not fair to say so. China now has the largest foreign reserve in the world, mostly from doing business with US. But how did Chinese accumulate that "wealth"? It takes 1 billion people to work hard for over 30 years to get there, since China adopted economy reform and open door policy. Now they only found it takes US government for how long to print the same amount of money, 10 seconds?
Am I understanding the issue correctly?
Synthetic Shorts from TMF
March 24, 2009
By Jeff Fischer
Synthetic Shorts Synopsis
* To replicate shorting a stock with options, you sell a naked call and buy a put option simultaneously.
* For a straight synthetic short, you sell a call and buy a put with the same strike price, the one that is as close to the current share price as possible.
* Use the same expiration date for both the call and put.
* Be careful -- selling naked calls is risky! The higher the stock goes, the greater your potential loss.
* Use LEAPs so you have more time to be proven right.
* Once you have your desired profit, close the options -- shorts usually involve a narrow time frame.
* To take on less risk, "split the strikes" and use a higher call strike price.
* Consider synthetic shorts on indexes (like SPY) as a portfolio hedge.
* For less risk shorting with options, simply buy puts and forego writing naked calls.
Feeling bearish? If you're looking to profit when stock prices slip, there's a way to use options to mimic shorting a stock -- but with distinct advantages. To set up this "synthetic short" position, you sell a call option and simultaneously buy a put option, using the same strike price and expiration date for each. Unlike a covered call strategy (detailed in Options 201), in this case you do not own the underlying stock, so when you sell (or write) the call, it's a "naked" call.
That means, just as when you short a stock outright, your potential losses are unlimited with synthetic shorts -- so this is a risky strategy. But your potential profits are hefty, and the strategy provides advantages when compared to traditional shorting.
First, you don't need to borrow shares of a stock to short it when using options -- often, the stocks you want to short most are the most difficult to obtain for a traditional short sale. Second, the amount of money you need to risk up front is typically much smaller with a synthetic short, given the leverage provided by options. Third, unlike when you short a stock outright, you don't need to cover any dividend payments yourself. Finally, both opening and closing a synthetic short can be done quickly, while the traditional shorting method sometimes involves a lot of waiting. To get a handle on how this strategy works, let's run an example.
Sell a Naked Call, Buy a Put
Brave soul that you are, let's say you want to bet against one of Warren Buffett's recent investments. Volatile Goldman Sachs (NYSE: GS) has jumped to $100 per share, and you believe there's profit to be had by shorting it over the next few months (remember, shorting usually involves a narrow time frame). Borrowing shares to short is difficult, and the stock pays nearly a 2% dividend -- which you don't want to cover yourself -- so a synthetic short is your best route.
Although your shorting thesis only covers a few months, you want to use LEAP options so you have more time to be correct if need be. Choosing options that are as close to Goldman's current share price as possible, you simultaneously sell the January 2011 $100 calls (which will pay you $32 each) and buy the January 2011 $100 puts (which will cost you $29). This results in a $3 per share credit to you. You're now effectively short Goldman Sachs -- and Buffett (how do you even sleep at night?).
In the ideal situation for you, Goldman declines 20% or more over the next few months and pushes both your calls and puts toward sizable profits. Your thesis has played out, and you should close your position -- both options -- profitably while you can.
The terrifying outcome (here's that risk we mentioned) would be if Goldman soared. Your options would show large losses, and you would either need to take your lumps and close them or wait and hope for Goldman to fall. Because you have naked calls, by their expiration you'll be required to buy Goldman stock at the going market price if it sits above $100 per share, and then deliver the shares at $100 per share for an instant loss -- just as if you'd shorted the stock outright.
Another risk with an underwater call option is that it could be exercised early, forcing you to buy the stock and deliver it sooner than you wanted. It's rare that an option is exercised early, but -- especially when you don't own the underlying shares -- you need to be aware that it could happen. You also need to maintain enough buying power to cover your naked call obligations, and those broker requirements will be updated daily if the stock increases against your position.
Splitting the Strikes
If this example sounds too risky, you can add a little breathing room to your synthetic short by "splitting the strikes" (we covered this in our synthetic long guide as well). To do this, you still sell your naked calls and buy your puts with the same expiration date, but you use different strike prices.
For example, rather than using the $100 strike price, assume you sell the January 2011 $115 calls on Goldman for $24 each and buy the $85 puts for $24 each. This gives you a sleep-aiding 15% window before your naked call's strike price is hit. The lower strike on the put does make it more difficult to ultimately profit from the stock's decline, but in the short term, the $85 put will move nearly as much as the $100 put when Goldman declines. So, it's still attractive, and you're still effectively short Goldman, but with less risk.
Just Buy the Puts
Remember, you can also invest against a stock by simply buying put options on it and foregoing selling naked calls to finance your put purchase, as we discussed in Options 101. Sure, you need to come up with all the money to buy the puts yourself, and if you're wrong on the trade, most or all of that money will be lost. But that's the most you can lose with a put purchase, so your risk is known. You won't have to worry about the potentially unlimited losses that a naked call entails.
Pro Bottom Line
Despite the recent rout, the market's long-term trend remains up, so a Foolish investor should only "go short" carefully and in special situations. Business is Darwinian by nature, companies come and go every year, and synthetic shorts provide a way to invest against the losers. We prefer to short companies with high debt, weak or no profits, few growth prospects, a low CAPS score, and inflated valuations. A synthetic short is also well-suited for shorting a market index to hedge your portfolio. Naturally, an index doesn't present as much upside risk as an individual company. In closing, while synthetic shorts are as risky as selling short outright and shouldn't be taken lightly, the advantages of the strategy over straight shorting earn it a rightful place in the Pro tool box.
2 Good Bloomberg podcasts
March 23 & 24.
What they both have in common.
Interview about housing suggests stabilisation if unemployment doesn't increase. Interestingly, the interviewee remarked that in the foreclosure statistics it is made up of 1/3 renters. The owners of the rental properties can't get refinancing.
Interview about TARP number-whatever-it-is suggests policy makers may eventually bite the bullet if unemployment continues to soar, and they may choose to nationalise banks.
Neither academic were optimistic about employment stabilising.
So we can expect a downturn with a poor earnings season coming up. Combined with increased unemployment, the next downturn might be a one-way trip to hell :).
I wouldn't mind learning how to short the pants of C and BAC once they've had their run up. Do you think that if Congress could finally get it into their heads to nationalise, would they give shareholders sufficient time to bail? I guess if we could see smart money bailing then you know the jig is up.
Let's see how the banks get these toxic assets off their hands...
edit: It seems at least Paul Krugman thinks it probable that nationalisation will have to occur, as well as the interviewee on the Bloomberg podcast. How many more economists to jump on the nationalisation bandwagon?
I am intrigued by the
I am intrigued by the sentimentrader.com's subscription charts.
Anyone here a subscriber?
Human side of this crisis
Bill Moyers covers the tragic cost to families - the abuse women and children - resulting from this economic crisis.
http://tinyurl.com/cgvwbk
It's not a pretty story, but one worth listening to, and another charge that should be levelled against the bankers responsible for this disaster.
When you think about it, the destruction of the family unit and abuse of women and children in the US (nay, globally!) resulting from bankers' (and policy makers') behaviour is no less a crime against humanity than what occurs as a result of the much derided behaviour of hooligans and tyrants in the so-called third world. Whether the bankers thought about the consequences of their actions or not, they are on the hook for this.
I understand better the desire for an economic bill of rights.
Re: that one-day wonder rally . . .
Volume on Monday's big up day was tepid for all the major market indices. It wasn't the kind of overwhelming, blast-off type volume where you see a 9-1 ratio in upside volume that starts many new bull markets.
Volume on Tuesday's selloff was lower than on Monday, so that's a positive.
There have been 2 very solid days of bullish action confirmed by heavy volume in the last 3 weeks; March 10 and March 18. The lack of volume this past Monday may be explained by the many fence-sitters taking a wait and see approach.
Those professional traders that have been burned by buying in too soon during the decline are possibly waiting to see if the $SPX can get over a certain threshold before they commit new money. If that happens, then that's where we may see the REALLY heavy volume that we need to make it obvious to everyone that the market has turned, if even for the short term.
So where's that threshold in the $SPX ? The first one is possibly at or near 875-880, and then the next one would be around 940-945.
Note: The $SPX is also sitting right at the downtrend line starting from October 14 to Nov. 4 to Jan. 1-2, to Feb. 9. So a breach of 825 would be quite bullish as well.
Just one person's observations & opinions.
Contrary view of trash for cash ala Krugman's standpoint
Steve Pearlstein takes issue with Krugman et al's principal gripe that the risk/reward ratio is asymmetric in favour of private money. Understandable, but nationalisation en masse would place the bill 100% at the taxpayers feet.
http://tinyurl.com/c7dj2y
Re: Rally
"What futures purchase by the Fed are you referring to?"
Mark- I was referring to a comment by Vinod on the possible reasons for the spike on Geithner's annoucement. I'm sure he was speculating. Reference his post 18641.
Re: Geithners backup plan
gdiman,
Right on!
Whether a 401(k) plan or the latest Geithner plan, if it comes from the gov. it is loaded against the average person, but sold as long-term beneficial.
The selling of manufacturing jobs: "Only the low-end jobs will be lost."
The Free Market: Great bonuses and options for execs as the bottom line savings of "right--sizing" kicked in.
Too big to fail: Bond holders in financials will be saved at terrible cost to general populace.
Too complex to understand: By original design and still working for the same bunch of crooks
When Obama pontificates listen for specifics. Most such statements are in the distant future or immeasurable:
"We will create 3 to 5 million jobs." "I'll cut the deficit in half by 2013."
Others are opinion only:
"I'm confident we'll get through this."
The latest "benefit" form our government plan...Our city is getting $1.5 million of the stimulus to be used for retraining.
-------------------
From the official announcement:
"This is expected to put 300 to 400 people between 16 and 24 to work, part-time for the summer. To be eligible for this "training" the person must have a "barrier to employment" such as — be a dropout, be a parent, or have a criminal record."
Dropout I understand — someone who doesn't finish what was started. If being a parent is a barrier, since I worked when a parent as did my dad, I guess they mean a single parent who needs a place to leave the kid (Not a barrier to showing up for training?). The criminal record...OK, and then what in the fall and winter?
Just like the mortgages — those who were honest and responsible are on their own, rewards are for the lossers who can be manipulated more easily.
These summer jobs will be "...mostly with government and schools." So it looks like the only full-time jobs are those doing the training who are able to say, "This is a shovel. That end goes in the ground and you hold it up here."
There will also be sessions on "How to find and keep a job," but attendance is not a requirement.
------------------
What we are facing was a long time in the making and not so much due to deregulation as re-regulation in favor of those setting up the scam of all time.
Pay based on percentage of mortgages issued (Barney Frank). Margins at all time highs (Henry Paulson). Removal of Glass-Steagall (Robert Rubin). Ignoring of warnings and issuing of AAA ratings (Congress, SEC, S&P,Moodys).
Re: I am intrigued by the
I'm a subscriber to sentimentrader and developed a system based on a sentiment. What's your question?