WASHINGTON, Nov 14 (Reuters) – MF Global’s collapse and the loss of an estimated $1.6 billion in customer money was triggered by former CEO Jon Corzine’s poor management decisions and lax protections for customer funds, a congressional investigation has determined. The findings of the House Financial Services Subcommittee on Oversight will be spelled out in…
Just finished scanning. No man’s land became bigger no man’s land…very stretched and extended to the downside in the near term. Longer term, I suspect we are in a bear market…but will always let the market tell me when changes occur. For the longs, there is really nothing to do. For the shorts, it…
Just got back from my charity Thanksgiving dinner. I have had zero time to scan but really don’t need to. Despite oversold conditions, the market is falling apart. It is that bad. Just about everything is breaking down…just about everything is cracking. I am happy we are out of the way but iwsh we got…
Futures are up…yippee. Market still not getting traction as it finishes on lows yesterday. By rule, we are not even on day one. We need first up day to even start it. Even if we got a follow through day, not so sure enough leadership to get things going. CSCO up nicely but not…
That was a crummy day for the bulls…finishing at the lows after rallying early…pulling back…rallying again…and then yuck. When markets are oversold and cant rally, it is the worst of all worlds for the bulls. But there will be a better bounce and maybe the CSCO aftermarket will help. We are not even on…
https://archives.warpradio.com/btr/InvestorsEdge/111318.mp3 JUST LETTING YOU KNOW The market simply is in no man’s land right now. It’s a place where the market’s gotten hit. But interestingly enough, I’m going to take a short-term view of today’s action in with the rest of the view. Because out of the short-term action, you can actually get a feel…
While the rest of America was holding an election last week, the gnomes at the Congressional Budget Office released the final budget totals for fiscal 2012. They’re worth reporting because they illuminate the real fiscal choices that confront the country, as opposed to the posturing you’ll be hearing over the next few weeks. The nearby…
As of Monday, bakers union members had set up picket lines at about 23 of the 36 bakeries and production plants operated by bankrupt Hostess. On the first business day after bakers went on strike against Hostess Brands, the Irving-based company said Monday it will permanently close three striking bakeries, putting 627 employees out of…
Reuters reports that GM is losing $49,000 for every Volt it builds, renewing criticism that the eco-friendly hybrid will never be profitable. “General Motors sold a record number of Chevrolet Volt sedans in August,” say Bernie Woodall, Paul Lienert, and Ben Klayman atReuters. “But that probably isn’t a good thing for the automaker’s bottom line.” Even though the environmentally friendly…
Q2 Total Gross Notional Derivatives Outstanding: $639 Trillion Earlier today, the BIS, which has been doing everything in its power today to defend the 1.27 support in the EURUSD since the market open this morning, released its H1 OTC derivatives presentation update. There was little of material note: total OTC derivatives were virtually unchanged at…
