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| heypa 283 posts msg #54333 - Ignore heypa |
8/25/2007 12:15:11 PM Ain't it freaking wonderful that we(you and I paid for it) saved Chrysler so that it could be sold to Mercedes? Any sovereign nation that allows its assets to be sold to a non citizen entity is foolish. Any sovereign nation that allows its balance of payments to become unbalanced negatively is stupid. Any sovereign nation that allows its assets to be sold to another sovereign country is being led by traitors. WE ARE FREAKIN DOOMED!!!!! My opinion. |
| nikoschopen 2,824 posts msg #54340 - Ignore nikoschopen |
8/25/2007 3:52:43 PM Heypa, you need to mellow out. LOL In the meantime, think about other countries and their companies and their human resources and their natural resources and (fill in the blank) that America has raided and pillaged. No wonder you have the Chavezes, Ahmadinejads and the Mugabes springing up everywhere like weeds. |
| nikoschopen 2,824 posts msg #54342 - Ignore nikoschopen |
8/25/2007 4:19:30 PM It's only been a month since this thread was created, but it feels more like eons with all the gut-wrenching turbulence that came and went. I hope everyone weathered the storm well and came out alive. I went back and reread msummer's "challenge" at the outset of this thread, which reads: I am offering a challenge to anyone who can come up with a system which is decently profitable during the backtest period of 1-1-02 to 1-1-03. The system is to be traded from the long side. Keep the default settings for the backtesting. So far finding this system has evaded me. I believe if you can construct a system( from the long side) during this period, you have a system which is worth gold. Good Luck I guess the recent market plunge can be seen as a minuscule reflection of the 2002-2003 bear market. Has any of you backtest wizard come up with a profitable system, let alone actually made money from the long side of the market, for the previous month? |
| nikoschopen 2,824 posts msg #54343 - Ignore nikoschopen |
8/25/2007 5:02:57 PM Here's an interesting aricle on CFC in today's NYT. Inside the Countrywide Lending Spree ON its way to becoming the nation’s largest mortgage lender, the Countrywide Financial Corporation encouraged its sales force to court customers over the telephone with a seductive pitch that seldom varied. “I want to be sure you are getting the best loan possible,” the sales representatives would say. But providing “the best loan possible” to customers wasn’t always the bank’s main goal, say some former employees. Instead, potential borrowers were often led to high-cost and sometimes unfavorable loans that resulted in richer commissions for Countrywide’s smooth-talking sales force, outsize fees to company affiliates providing services on the loans, and a roaring stock price that made Countrywide executives among the highest paid in America. Homeowners, meanwhile, drawn in by Countrywide sales scripts assuring “the best loan possible,” are behind on their mortgages in record numbers. As of June 30, almost one in four subprime loans that Countrywide services was delinquent, up from 15 percent in the same period last year, according to company filings. Almost 10 percent were delinquent by 90 days or more, compared with last year’s rate of 5.35 percent. Many of these loans had interest rates that recently reset from low teaser levels to double digits; others carry prohibitive prepayment penalties that have made refinancing impossibly expensive, even before this month’s upheaval in the mortgage markets. “In terms of being unresponsive to what was happening, to sticking it out the longest, and continuing to justify the garbage they were selling, Countrywide was the worst lender,” said Ira Rheingold, executive director of the National Association of Consumer Advocates. “And anytime states tried to pass responsible lending laws, Countrywide was fighting it tooth and nail.” Click on the picture to read the full article |
| msummer2007 129 posts msg #54345 - Ignore msummer2007 |
8/25/2007 6:32:25 PM Niko there have been a lot of great posts on this thread. I remember the original post. All my systems have been thrown out of whack. Recently they have been coming back into line, but I am skeptical to trade them in this environment. I wonder how many others feel the way I do? There is the urgent need to remove a trade immediately, whether this feeling is real or a sixth sense, I don't know. Even going long recently, seems to be fraught with risk. I usually don't day trade as frequently as I have been, I like to let the trade work for awhile. I too hope everyone came out of this OK. |
| heypa 283 posts msg #54347 - Ignore heypa |
8/25/2007 8:32:45 PM Yes Niko all the worlds problems are this countrys doing. Therefore let us make sure that it pays for these percieved transgretions. Yes I sometimes get too intense,but was what I said in error?The final result of this drive toward globalization is ONE WORLD GOVERNMENT.Picture it as one run under the strict rules of the Koran. It is within the probable and desireabe to a fast growing segment of the growing population. |
| heypa 283 posts msg #54348 - Ignore heypa |
8/25/2007 8:37:36 PM Back to the original. It is extremely difficult to trade successfully against the grain. Most retail traders are probably swing traders.Only accomplished day traders such as youself have much chance of success. |
| nikoschopen 2,824 posts msg #54349 - Ignore nikoschopen modified |
8/25/2007 10:37:48 PM msummer, this thread began just prior to the subprime fiasco, which eventually pushed the market off the cliff. If anything, this thread should serve as a chronicle of those wild gyrations that have plagued us all and, above all, the bone-chilling pleasure I had of thumbing my nose at the badass big players. However, I agree that the current environment is fraught with perils, especially for day traders whose tight stops are the favorite targets for these same big players. I got shot down in flames on so many occasions I feel like a lost puppy these days. Heypa, you obviously understated my ability as a daytrader. I'm perhaps one of the most obnoxiously retarded daytraders there is. I keep making the same mistake of giving back my hard earned profits and yet I can't help indulging myself in thinking that I can surpass Mary4Money's wealth in due time, whatever that means. One world government? From Europe to Asia, and from Africa to perhaps Antarctica, Coca-Cola and Madonna practically dominate the scene. What more can you ask? If there would be such a silly thing as a one world government, it would mostly be under the control of America with her agenda at the very top of the list. No wonder other countries laugh at our democratic double-standards. |
| nikoschopen 2,824 posts msg #54369 - Ignore nikoschopen |
8/26/2007 8:54:59 PMFed bends rules to help two big banksIf the Federal Reserve is waiving a fundamental principle in banking regulation, the credit crunch must still be sapping the strength of America's biggest banks. Fortune's Peter Eavis documents an unusual Fed move.By Peter Eavis, Fortune writer August 24 2007: 5:09 PM EDT NEW YORK (Fortune) -- In a clear sign that the credit crunch is still affecting the nation's largest financial institutions, the Federal Reserve agreed this week to bend key banking regulations to help out Citigroup (Charts, Fortune 500) and Bank of America (Charts, Fortune 500), according to documents posted Friday on the Fed's web site. This unusual move by the Fed shows that the largest Wall Street firms are continuing to have problems funding operations during the current market difficulties, according to banking industry skeptics. The Fed's move appears to support the view that even the biggest brokerages have been caught off guard by the credit crunch and don't have financing to deal with the resulting dislocation in the markets. The opposing, less negative view is that the Fed has taken this step merely to increase the speed with which the funds recently borrowed at the Fed's discount window can flow through to the bond markets, where the mortgage mess has caused a drying up of liquidity. |
| nikoschopen 2,824 posts msg #54370 - Ignore nikoschopen |
8/26/2007 8:59:49 PM Is the Fed outta whack?! I think this will only act as a catalyst for another panic selling. But, then again, I ain't no sage. |
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