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If the current bear market continues into a 2008 style crash I won't be surprised to see gold slapped down into the low 900s or even the 800s. This is assuming that, as in 2008, people dump gold along with every other asset for the "safe haven" of Treasuries. If that happens I'll regard it as...

While many people on Wall Street are in the business of bilking people out of money, the government certainly is as well. The states, not Wall Street, are running all those lotteries. But at least those are voluntary, unlike taxes and Obamacare.

You won't consistently make money in options unless you have an edge. You won't consistently make money in trading stocks unless you have an edge. After all, the guy on the other side of the trade probably isn't any stupider than you are. Hell, given the performance of the stock market in the...

You should all keep in mind what a "junior gold stock" is. Its an exploration company, *not* a mining company. A typical junior exploration company has a couple of geologists, a guy with a drill, and the mineral rights to some plot of land that may or may not have a viable deposit. They have...

The "edge" is a reliable system for making trades that have a positive expectation. If you believe in the efficient market hypothesis that shouldn't even be possible. But to be a successful trader you absolutely must have an edge; money management issues are important but secondary.

All government fiscal projections are based on fantasy, inevitably of the over optimistic kind. That why so many state pension systems are now in a deep, dark hole.

Well of course what you have is a put calendar, a call calendar, and a short strangle. I'd be worried about that short strangle in this market. I sure as heck wouldn't try to guess where the market will wind up in September. I like income trades I can close out within a month, that's hard...

Well, it is the options stuff that really is the issue here. Recall the case from the option thread. A guy was long the SPY 119 puts and short the SPY 114 puts. In the craziness of the flash crash there was a point where the price on the SPY 114 puts exceeded the price on the SPY 119 puts by...

OTOH, if you have a Che Guevara poster hanging in your campaign office your man gets elected president. http://www.moonbattery.com/archives/2008/02/obama_workers_c.html

The only reason GE isn't bankrupt is because the U.S. government is backing its debt, so it can continue to borrow at low rates as if it was a sound company. I wouldn't touch it with a 10 foot pole.

That's an argument against allowing principals and employees of a company to short their own stock. (I believe that most companies already have such policies in place.) But the idea that me shorting a stock on a company I have no relation to is going to cause the company to fail is silly. You...

No. The losses of the home owners had nothing to do with credit default derivatives, as home owners took neither side of those bets. They defaulted because they bought houses they couldn't afford. Some banks lost money on credit and default derivatives, but most lost money the old fashioned...

It will. If you can't short an asset put-call parity no longer applies, and market makers can no longer hedge short puts with short stock. This causes puts to become more expensive relative to calls. So even if buying puts isn't forbidden it becomes more expensive. Stock holders who want to...

Well, three weeks later and it sure as heck looks like it's consolidating. Meanwhile, gold is back above $1200.

Lending to people too poor to pay their loans back is of course what caused the mortgage crisis in the first place. No wonder Democrats are in favor of it. Goldman Sachs is on the hot seat so naturally they will do what is necessary to mollify the Democrats.

Kitco's Jon Nadler has made it clear in his latest article that the Kitco web page referred to by zerohedge showing gold prices in deutschemarks is an ancient, at least 8 year old page that somebody managed to dredge up from the subbasement of Kitco's servers. So no, Kitco is not preparing to...

The best way to punish the children is to send them to a public school.

PG is much less risky than the average stock in SPY so why shouldn't it have lower IV? Heck, PG is less likely to go bankrupt than the U.S. government.

Actually, I believe the 0.01 prices for $40 stocks were due to some sort of computer glitch at the exchanges. Not even trading bots are dumb enough to sell $40 stocks for a penny.

I don't know about Virginia but I know that Maryland imposed some sort of "millionaire tax". So of course the rich people moved out and tax revenues from millionaires declined. Remember that the federal income tax itself was originally touted as a "millionaire tax". Very few people had to...