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Monthly Archives: August 2011

Late Afternoon Fun: Youtube Diaries

[youtube:http://www.youtube.com/watch?v=BDSpCxjZ2D8&feature=player_embedded#! 450 300] [youtube:http://www.youtube.com/watch?v=zbn-GLNZFmA&feature=player_embedded#! 450 300] [youtube:http://www.youtube.com/watch?v=izE4_Jd2dOw&feature=related 450 300]

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High Frequency Trading Banned

Just kidding; but the rhetoric about them is building up just like the short sellers. Don’t be surprised if someday you see limits on high frequency trading. It would be par for the course of “free markets.”

Full hit piece

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Today’s Best/Worst Performing ETF’s

No. Ticker % Change
1 TVIX 30.14
2 VIXY 14.99
3 VXX 14.94
4 SRTY 14.85
5 ERY 14.69
6 TZA 14.66
7 VIIX 13.93
8 SOXS 13.90
9 YANG 13.88
10 TYP 13.43
11 FAZ 13.43
12 LHB 13.29
13 MWN 13.25
14 EDZ 13.24
15 SICK 13.15
16 DPK 12.99
17 SQQQ 12.73
18 BGZ 12.43
19 SPXU 12.18
20 DRV 11.82
21 BXDC 11.77
22 SMN 10.17
23 SKK 10.06
24 EPV 9.98
25 DUG 9.97
———————-
No. Ticker % Change
1 MATL -15.80
2 XIV -14.91
3 RUSL -14.76
4 ERX -14.73
5 TNA -14.68
6 SOXL -13.92
7 MWJ -13.48
8 TYH -13.43
9 FAS -13.41
10 EDC -13.04
11 YINN -13.01
12 COWL -12.70
13 TQQQ -12.56
14 BGU -12.30
15 UPRO -12.17
16 DZK -12.12
17 LBJ -12.01
18 DRN -11.55
19 INDL -10.05
20 UYM -10.03
21 BXUB -9.99
22 DIG -9.97
23 UKK -9.96
24 UWM -9.71
25 BRIL -9.70

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Today’s Mega-Cap Losers

mkt caps above $10 bill

No. Ticker % Change Market Cap
1 NTAP -16.90 15,460,000,000
2 CTSH -11.83 18,920,000,000
3 BCS -10.92 34,560,000,000
4 INFY -10.32 30,890,000,000
5 A -9.16 12,460,000,000
6 VMW -9.11 37,240,000,000
7 ING -8.95 33,410,000,000
8 EMC -8.75 46,480,000,000
9 CS -8.66 35,160,000,000
10 CLR -8.65 10,730,000,000
11 COH -8.61 14,850,000,000
12 IBN -8.49 23,320,000,000
13 CBS -8.47 16,690,000,000
14 CTXS -8.36 11,050,000,000
15 AV -8.24 16,650,000,000
16 UBS -8.20 55,120,000,000
17 SLT -8.13 40,540,000,000
18 C -8.12 87,100,000,000
19 HAL -8.05 41,800,000,000
20 WYNN -8.00 18,300,000,000
21 LYG -7.91 45,660,000,000
22 DOW -7.88 34,900,000,000
23 ORCL -7.84 139,150,000,000
24 JNPR -7.84 11,560,000,000
25 FCX -7.73 44,180,000,000
26 AIG -7.61 44,650,000,000
27 CMI -7.61 17,720,000,000
28 ACN -7.58 35,130,000,000
29 PCP -7.38 21,880,000,000
30 MT -7.34 34,510,000,000
31 WIT -7.15 25,250,000,000
32 TROW -7.14 13,070,000,000
33 WMB -7.14 16,560,000,000
34 ARMH -7.11 34,280,000,000
35 HES -7.10 20,240,000,000
36 APC -7.10 36,230,000,000
37 NJ -7.09 11,870,000,000
38 MHP -7.07 12,070,000,000
39 ERIC -6.92 35,220,000,000
40 GR -6.92 10,850,000,000
41 WFT -6.90 13,040,000,000
42 IVN -6.87 14,790,000,000
43 EP -6.86 14,920,000,000
44 MAR -6.77 10,210,000,000
45 BAC -6.70 75,600,000,000
46 DB -6.69 39,080,000,000
47 CHKP -6.69 11,740,000,000
48 CRM -6.67 16,910,000,000
49 XRX -6.63 11,650,000,000
50 FLR -6.62 10,520,000,000

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Today’s Winners/Losers

min mkt cap: 500 mill

No. Ticker % Change Market Cap
1 EK 16.73 723,740,000
2 SINA 5.55 5,850,000,000
3 QIHU 5.51 2,680,000,000
4 AUQ 3.20 2,150,000,000
5 NGD 3.12 5,480,000,000
6 SPRD 2.92 765,830,000
7 OTEX 2.76 2,960,000,000
8 GTU 2.66 1,190,000,000
9 KT 2.55 8,200,000,000
10 JASO 2.34 630,130,000
11 SCG 1.84 4,980,000,000
12 HTHT 1.82 928,450,000
13 SNPS 1.75 3,440,000,000
14 IEP 1.68 3,660,000,000
15 TLK 1.64 16,770,000,000
16 PLCE 1.58 1,050,000,000
17 HL 1.27 1,990,000,000
18 SKM 1.22 10,000,000,000
19 Z 1.04 649,610,000
20 PDLI 1.04 809,410,000
21 NTL 0.97 3,500,743,386
22 KCG 0.92 1,140,000,000
23 EGO 0.82 10,650,000,000
24 MMLP 0.79 728,360,000
25 EJ 0.79 512,400,000

————————–

No. Ticker % Change Market Cap
1 APKT -17.82 3,310,000,000
2 ARX -17.07 839,410,000
3 NTAP -16.90 15,460,000,000
4 SSI -16.69 564,460,000
5 ARUN -14.33 2,150,000,000
6 RVBD -13.83 3,790,000,000
7 AREX -13.36 568,520,000
8 VELT -13.04 758,390,000
9 KNXA -12.95 570,130,000
10 URI -12.75 1,050,000,000
11 MGM -12.18 5,640,000,000
12 IRF -12.17 1,590,000,000
13 LPL -12.05 7,010,000,000
14 PCX -11.85 1,340,000,000
15 CTSH -11.83 18,920,000,000
16 ATPG -11.72 575,230,000
17 JDSU -11.71 2,660,000,000
18 GT -11.17 3,260,000,000
19 CPX -11.01 2,330,000,000
20 AWC -11.00 4,880,000,000
21 TIBX -10.97 3,570,000,000
22 BCS -10.92 34,560,000,000
23 SZYM -10.82 981,560,000
24 KEG -10.70 2,210,000,000
25 PHM -10.64 1,800,000,000

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Great article on the folly of European short sale bans

Read it all here:

Some believe that in times of crisis, little angels come down from heaven to rescue the few who would only try to hear them.

These mysterious beings are called shorts.

You might conclude that shorts are indeed of celestial origin when you consider the people who revile them the most: bankers, CEOs, beholden politicians and delusional investors caught unaware in a financial calamity that has so obviously been brewing for years.

“When I find a short seller, I want to tear his heart out and eat it before his eyes while he’s still alive,” is what one Wall Street chieftain said in 2008. You may remember him. You may not. His name was Richard Fuld. He was CEO of what used to be called … um, Lehman Brothers.

Fuld was certain that pesky short sellers had conspired to spread false rumors and bet against Lehman’s stock.

One of them was hedge-fund manager David Einhorn, who publicly argued that Lehman’s books were rife with accounting gimmicks and that the firm didn’t have enough capital to cover its exposure to dicey real-estate loans.

Lehman’s subsequent bankruptcy liquidation proved that sometimes “false rumors” are true. And anyone who listened to Einhorn rather than Fuld avoided certain perils of financial hell.

It’s hard to forget the witch hunt over short-sellers in 2008 as Lehman and other firms unthinkably slid toward the abyss.

“We’re in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down,” then-Morgan Stanley (MS – News) CEO John Mack complained in a memo.

Mack led a parade of desperate Wall Street bankers to Washington, where they successfully lobbied for a temporary ban on the short selling of 799 U.S. financial companies, including well-known toxic-debt waste dumps, such as Washington Mutual, and companies that didn’t need it at all, like Berkshire Hathaway Inc. (BRK-A – News).

“We were concerned about the possible unnecessary or artificial price movements based on unfounded rumors regarding the stability of financial institutions,” the Securities and Exchange Commission explained in its Sept. 18, 2008, emergency order.

Banks even got then-New York Attorney General Andrew Cuomo to launch an investigation.

“I want the short sellers to know today that I am watching,” Cuomo menaced.

See, when people buy a stock long and spread happy rumors about its upside, that’s the free market. But if you go short, Cuomo’s gonna get you.

Never mind that shorting is just as essential to many institutional trading strategies as buying long. Or that a healthy market is one that rewards people for being right.

It’s difficult to find any evidence that 2008 attack on shorts was little more than a reflection of the desperation, folly and hypocrisy of certain Wall Street players accustomed to rigging the world’s biggest casino in their favor. What followed was the inevitable collapse that we are still slogging through today.

Nevertheless, panicked regulators in some European countries have now instituted temporary bans on short selling, and they want short-selling bans of their stocks in U.S. markets, too.

“Only this way can destructive speculation be countered convincingly,” said German Finance Ministry spokesman Martin Kotthaus on Friday.

Destructive speculation? Sound familiar?

It’s as if confidence can be regulated. It’s as if the euro (EURUSD – News) would come roaring back if we simply outlaw what the little angels are telling us. It is yet another ominous sign.

“I will hurt the shorts — and that is my goal,” Fuld boasted to his shareholders in 2008.

Fuld was one of the best things that ever happened to the shorts.

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