Stock Market Intraday Chat: May 7 - May 11 - Page 39

pattern just gets wider and wider....

 

 

Maybe they'll create an inverse ETF to the JPM trader, we could all be rich!

I know you do your own charts and they make mine look sad but GOOG looks like its heading up...  not that i'd buy it here...

 

I'm still holding BAC short will add to it in few minutes of we crack 7.68. I think we're going to be stuck here +25-40 on the day and nobody really getting what they want.

So I can improve a bit can someone point out the double bottom please.. i have various bounces..

 

I was just looking at the daily chart and noticed the double bounce off the 200ma....but on shorter time frames I see the same thing as you.

 

 

That is a great site OldFart..Thanks !!  Good to see you again..I have been studying the sacred geometry of different patterns coming up with buy and sell points based on AB=CD expansions and volume patterns into swing points..

Good to see you too Dave....that site has a free download for harmonic patterns as well...not sure if it's worth anything ( most free stuff isn't ) lol, but it might give you some more ideas...

 

http://www.fxgroundworks.com/?a=phenn

JPM having a bad day at the office... anyone read this yet?

 

The British-based man, also nicknamed the 'London Whale' and the 'White Whale', is suspected by financial analysts of making massive and hugely risky trades for JP Morgan Chase when he should have been mitigating risk. Bruno Michel Iksil, as he has been named by the Washington Post, is French-born, based in London and worked for the Chief Investment Office which has been at the heart of the bank's recent losses.

 

(British based .. ok not and Englishman !)

 

http://www.dailymail.co.uk/news/article-2142866/JPMorgan-Chase-trader-Bruno-Michel-Iksil-thought-2bn-loss.html

Is this a case of rogue trading or was there consesus among the team? It seems like the whole team is taking the blame on this one.

On a side note, the new French President Hollande wants to impose a 75% personal income tax on any income over $1 mil/year.

 

That sounds freaking awesome to me. The most average people will ever make is 100k/year, even most doctors and lawyers only make like 300k or less.

 

America should definitely not tax corporations 40%, should be much lower so they can hire more workers and invest, and let the shareholders benefit. Then make the super rich pay high income taxes. 75%

 

Historically they've done it before in America, 58% for the top tax bracket in 1922.

I think its watch this space at the moment, everyone is numb from all the previous Euro tribulations but we have major turbulance ahead and great opportunities for the market makers to fiddle and manipulate to a greater extent.

The gulf between Germany/France/Greece is absolutley huge now Sarkozy towed the German line but Hollande has different views. Growth by borrowing will not impress the strict budget concious dsiciplined Germans. Greeks want to stay in the Euro.. over 80% of them but won't tolerate the austerity to enable it to happen.... a collision course with Berlin is inevitable.

As for the super taxes for the super rich... good idea IMO

Tax me and my friends who are all business owners at 75%? Watch me get my ass out of this country if that were to happen, and I wouldn't be the only one leaving.

Well IMHO taxes should be more progressive in general. A person making 100million a year is currently paying the same as a person making 350 thousand (35%) ... Everyone making over 1 million should pay 40-45%, everyone over 10 million should pay 55-65%. And I agree, corporate taxes should be lower, and tax loopholes closed.

federal taxes in the USA were supposed to be "temporary".......the funding of the civil war was used as an excuse to launch the 16th amendment....

 

....."The Socialist Labor Party advocated a graduated income tax in 1887.^[5] The Populist Party "demand[ed] a graduated income tax" in its 1892 platform.^[6] The Democratic Party, led by William Jennings Bryan, advocated the income tax law passed in 1894,^[7] and proposed an income tax in its 1908 platform.^[8]".....

 

 

 

See how long "temporary" means to the federal govt?... ( and it ain't going to end anytime soon )

 

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

http://www.dailymail.co.uk/news/article-2142402/Angela-Merkel-slaps-Greece-Hollande-says-alternative-austerity.html

 

The conflict in views is explained here... hard to see how this is going to be resolved quickly; if at all.

 

I get the feeling that as soon as Hollande goes to Berlin the markets will react until an agreement is reached. Great a summer of Euro uncertainty

MWW halted.

sounds like they're about the crash the whole money system ( something I figured might happen ) and push the one world govt down everyone's throats....

 

MWW open again. Jumping on takeover rumors by LinkedIn and Silver Lake according to Reuters.

 

 

EDIT: Halted again

spike halt?....what the?...

 

Yeah takeover rumors. Just opened back up again.