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the volume on down days is lower than up days, thats accumulation not distribution.

Part of the current gold price strength is the metal taken out of circulation by the ETF. If gold held by ETF doesnt increase, where does the metal go? look out below in gold.

Gold wont really move until there is real demand - the demand you're talking about is arb demand, not "I need gold in my house now because the aliens are invading type demand."

I think all the comments about "we're friends", "she understands", blah, blah, blah is simply BS. Trading is a job, and like every job, is simply used to pay your bills. Seeing it as anything else is goofy. You're not making the world safer, better or working to cure the common cold. Then...

I'd rather hear how brokers control credit risk in overnight markets

Unless you're doing an academic study, what difference does it make? If you're right on price, you make money. If wrong, well.... Not like you can go to the exchange and say,"I'ma hedger, please give me back my losses, as I have a legitimate need to hedge." Or, specs are EVIL, they took my...

does anyone trade these as an arb,? any ideas on correlation of trades,eg, leading/lagging index to cash or vice versa thanks

Makes no sense, if its a regional issue, eg, south-east, is he saying a repeat of texas is coming or just a casual comment from his eyeball of the statistics? imho, a large fund hit the weaker mkts after lunchtime, rolled into stops and the mkt faded.

Curious set of sell trades at 1331 and then equally curious buys at 1351 Hedge funds or program?

I need to be taken out & shot for such a stupid question - sorry.

Why are the volumes on bid/offer so small lately? Where there used to a few thousand lots, sometimes theres only 5 or 10 and even a tick wide spread during the day.

A great broker doesnt give you illegal inside info. He simply says 'now isnt a good time to buy' or why dont you wait for a bit. BTW, on charts many of these trades are clearly visible - you see the small stuff hit, then it rocks

It depends who loses the dough. If its a bunch of tier 1 firms, the rules get changed. If its me, I either pay up or get sued. Simple.

You need to know what was unauthorized about the trade. Did he xceed a trading limit? A loss limit? Knowing which broker took an 'unauthorized' trade would be good too. Or simply you're not allowed to lose money so he got fired and the trade was written off to investors as 'unauthorized'...

When you strictly judge someone by their P&Ls, how surprised can you be? Maybe if the penalty was that they had to give back 3 years bonus, instead of just being fired would squelch this. I mean, how many years of $3-5 million bonus' do you need?

imho, its a very hard transition to go from being the guy who starts the wave, to catching a wave, if that makes any sense.

You can read a tonne of books, but working for one of these behemouths for a year or two, will give you more insight. But unless you went to the "right" under-grad, grad school or have significant family money at one of them, these jobs are basically unattainable by normal people. Working...

The gap between long term bonds and stocks has widened considerably in stocks favor.

Good points all. The limiting factor in institution size trading is the mindset of these folks - they sit behind gleaming desks, make oodles of salary and have their egos massaged endlessly by brokers. Of course they think they're brilliant. And given all this, their senior managers portray...

Michael- Risk capital attempts to reflect risk that occurs, based upon some arbitrary mark to mkt concepts. The ability of traders during the course of a day to exceed limits, capital requirements etc is well-documented. Risk capital also does not reflect the risk of dealing with lower...