SocGen Rogue Trader causes fed rate cuts this week !?
Posted by James Breen at 26 January 2008 14:22
I guess it is time to get 100% long for the readers to count. All indications in Wall Street are unbelievable, for example stock trading.
The synthesis of the idea of stock trading dominated early news:
Major indices closed mixed the week here the details:Nasdaq -0,6%Dow Jones 0,9%S&P 500 0,4%Here The Weekly Movers:GAINERSBankUnited Financial Corporation(BKUNA)Flagstar Bancorp, Inc.(FBC)M/I Homes, Inc.(MHO)Radian Group Inc.(RDN)FreightCar America, Inc.(RAIL)CarMax, Inc(KMX)LOSERSHuman Genome Sciences(HGSI)SunOpta, Inc. (USA)(STKL)Mercury Computer Systems Inc.(MCRY)Motorola, Inc.(MOT)Agria Corporation (ADR)(GRO)DealerTrack Holdings, Inc.(TRAK)Swing Trading, Technical Analysis, Daily Stock .. full post.
They said:
So - I posted earlier about the Fed's shocker cut this week. It turned out to be an amazingly volatile week for the global markets- 1 day in the US - the Dow had a ~600 point swing (that is around the 3rd biggest % swing day ever for the Dow). The Hang Seng was down ~10% one day, up 5%/ 6% on other days. The Stoxx 50 had similar volatility - just huge global markets volatility. Also Societe Generale Reports EU4.9 Billion Trading Loss.because of a rogue, evil, bad, no-goodnik trader. Shocking ..>>.
It is just getting started:
On January 24th /08 CIBC World Markets analyst Barry Cooper initiated coverage on Aurelian Resources. Company Profile Aurelian Resources Inc. (TSX: ARU) focused on their wholly-owned Condor Project, consisting of approximately 95,000 hectares in south-eastern Ecuador. Fruta del Norte (FDN), their flagship epithermal gold-silver deposit, was discovered in April 2006 and has a NI 43-101 compliant initial inferred resource of 13.7 million ounces of gold (58.9 million tonnes grading 7.23 g/t ..».
Keep up the good work.
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