Archives for December 2005

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Party Like a Rock Star

When people say “Spend Money like a Rock Star” they mean spend money like there’s plenty more where that came from. There usually isn't in the rock world but they spend it anyway. Courtesy of Blender here are a few things your favorite rock stars have purchased with their hard earned money Bono spent $1700 to have his favorite hat flown from London to Italy because he forgot …

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A perfect gift for the Coffee Loving Trader

I've never been a big coffee drinker and despite the incredible aromas coming from Starbucks, I have never gotten anything besides an iced drink but this might change my mind. This coffee from Indonesia called Kopi Luwak is some expensive stuff only a big trader can afford or even find. This coffee is $175 a pound or more and is rather hard to get. You see, this coffee is collected after it has be …

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A blog to read Daily

In the relentless search for more information to trade on I have found one that I check every morning. Roberto's NasdaqTrader. I love the fact he not only talks about certain stocks but puts the charts there for you to see them. It keeps me from doing what I normally do and that's write down all the stocks that interest me and then go check their charts. He talks stocks, options, commodities, Fore …

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Futures and Commodities are this years’ Options

Futures and Commodities are going to be the story of 2006. More and more people are getting into them. It has become much easier for the Home Trader to open an account at Optionsxpress or Xpresstrade and start trading. It is a highly speculative market but fits in perfectly to the gambling lifestyle that the whole world has adopted. This is also going to mean big volume for the exchanges , especia …

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Intel Changing Slogan to “Leap Ahead”

Intel leaked to the Wallstreet Journal that they will be changing their slogan from "Intel Inside" to "Leap Ahead" They will also get rid of the "e" symbol. I knew something had to change with Apple changing over. There is no way they were going to put the old slogan on their computers. I'm not even sure they are willing to mess up their flawless design but Intel gives millions of dollars to compa …

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STAY OUT: Keep the Powder Dry

Whatever you do the last two days, this year isn't going to change your year. If you are like me, just be thankful for such a prosperous year and get ready to set up your new positions. Spend some money. You've had a great year and deserve payment for your hard effort. Take the money out and put it in the bank and save it to pay your taxes. This last two days are the worst trading days of the year …

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Looking For Your Best Trade or Best Purchase

We here at WallstreetFighter are looking for people to submit their best trade of the year. It can be stock, options, commodities, or futures. We don't care if it was long or short. Whether you trade on Wallstreet, the Chicago Merc, or you kitchen in Onarga, IL give us the best trade you ever made. We are also looking for the craziest thing you blew your money on from a big trade. Did you bu …

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Another Reason Why Floor Traders are moving Upstairs

I remember when the exchanges actually used to pay market makers to make markets on the floor. I also remember when this was the only handheld you ever saw on the floor. Then to raise more money they started charging for "order flow" and made them pay a little for each contract sold. Now in an effort to dig deeper into the pockets of the people already thinking of leaving, the New York Stock Excha …

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Long Of The Year: CELGENE

It is a bit early but I figured I better get it out there before it skyrockets. I searched over many stocks that I thought had huge potential and Celgene (CELG) was the winner. Other finalist are Intuitive Surgical (ISRG), Kohls (KSS), Amylin (AMLN), and Apple (AAPL). I really like all the other stocks but Celgene is heads and shoulders above them for one reason. Growth. All it needed to move abov …

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End Of Year: Take Your Hits and Get Out

If Kirk Kerkorian can admit he was wrong and got out of GM, you can do the same. The best way to make money trading is to let the winners run and get out of the losers. You have to be patient enough to let a trade develop but there are times to just get out. This is the time of year to get out. Take the tax write-off because you need it against all the other profit you made. I know you’ve b …

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Want This? Better start a Hedge Fund

If you want to own a Buggatti Veyron car you better be a big player. This is one awesome car. Used to be listed at 1001 horsepower but recent tests capped it at 987. I would be mighty pissed if I got ripped off of my 4 horsepower. Presently it caps out at 250 miles per hour but is pretty comfortable even at 60. Ok I really don't know how it drives but I really expect to be asked to test drive it a …

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Look out your window trading : Natural Gas

Traders couldn't get out of Natural Gas quick enough today. Why? Because it's warm. It has been much warmer than usual and it looks like it will stay that way for atleast a week. Natural Gas prices have fallen 23% since last Wednesday. February gas fell 10% to $11.03/1000 cubic feet. Prices certainly are going to find a level but I believe it will be under $10. Everyone wants out of their long and …

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UPDATE: Chinas GIANT short position getting worse

It's not getting any better for China in their Short Copper position. Copper rose to record levels in Shanghai today on concern that supply can't meet China's demands. China decided they were going to start selling off their reserves to drive down the prices. Short sellers knew this was coming and started putting on a short position as well. Instead this turned into the biggest short squeeze in th …

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Trading Naked in the Basement

I can already do that but soon you are going to be able to trade anywhere, anytime. Google's recent announcement of installing WI-FI in San Fran has made me think about people trading in places never seen before, parking lots and gas stations. Why am I writing about this? One of the reason most trading floors are getting smaller and smaller is the electronic exchanges. These exchanges are running …

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BE SMART: Visit my New Renter

Be a bit smarter than this guy and visit my new renter. The site is about the things that really matter in life not money. Its fun to make fun and ridicule but go to the site and read about the more important things. Make sure you come back though because I have alot more were this came from

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Merry Christmas : Short of the Year

It's Christmas time and we should be thankful for all things we have and be glad we're not most people on this page. I'll start the year with companies that aren't going to have a nice Christmas or a prosperous New Year. There are many to choose from and this one actually was the short of the year this past year as well. Overstock (OSTK) is not going to make it. The stock is already heavily sh …

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The Best Trader Of Year

If you ever talk to anyone at the New York Merc (Maybe even the Chicago Merc) you will hear about the money lost and made during Hurrican Katrina. It was an incredible to hear the stories of the millions of dollars put on the line during that time. Guys that were "old school" couldn't believe the size changing hands during these times. Rumors have it that Steve Berkson made $20 million that week …

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Nomination #1 For Worst Trader Of Year

Who shorts Google? Ethan Kass did. Here's the full story courtesy of Trader Daily. Ethan was a junior trader of Manhattan-based Circle T Partners. As a junior partner he was supposed to execute trades given from others. Well, he executed a few trades on the side that were not authorized. He took some huge short positions against Google. Yes Google. Of all the stocks in the world you don't want to …

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Rogue Copper Trader is Missing

This copper trader is missing for good reason. There's been rumor of a far east short position in copper but I had no idea it was one guy. He's short 100,000 to 200,000 tons of copper and we all know metals are all up big. Now we know why some people in London at the LME (London Metals exchange) have been talking down metal prices. If I was down a few hundred million I might be bad-mouthing s …

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The best options book ever Written

It is the the Bible of options trading. When I first started trading it was required reading by my firm. Buy this book, read it from cover to cover. It explains every possible thing you can do with options. It may keep you from making this page.

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One of my Favorite Greed stories

In the late 90's the internet went crazy. All these new millionaires with stock options didn't want to sell because they had to do paperwork and it looked bad that they were selling. Some schmuck came up with an idea to create an "exchange" to trade the new shares they had acquired in exchange for shares of the exchange. They would borrow money against the shares and diversify everyone. One proble …

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The biggest Rogue Trader of All

Everyone knows the Leeson story but I had to put it on this page. I should have made it first but figured everyone had heard the story or seen the movie. If not here is the "case analysis" This is a perfect case of no checks and balances.

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Test Post – SVA

When people say "Spend Money like a Rock Star" they mean spend money like there's plenty more where that came from. There usually isn't in the rock world but they spend it anyway. Courtesy of Blender here are a few things your favorite rock stars have purchased with their hard earned money Bono spent $1700 to have his favorite hat flown from London to Italy because he forgot it. It was carrie …

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The great 1 cent Tokyo Trade

This just happened last week in Tokyo. A trader put in 610,000 shares at 1 penny instead of 1 share at 610,000 yen. OOOPs. Rogue trader? probably not but it is turning out to be a 300 million dollar error. The system wouldn't let them fix the error quickly so people started snapping up the shares. Most firms are giving back the shares and the exchange is going to be liable but man what a bad entry …