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You are confusing two different things. You can claim Trader status and not claim mark to market as a 1256 trader in order to deduct your expenses on schedule C. You are quoting something that says not to choose mark to market, it does not say don't choose trader status.

When the two oracles are in harmony, the market listens.

Apex, +10/-7, that is a low R/R for you isn't it? King, One simple answer is that many US loans are tied to Libor, and all the Fed's actions thus far have not brought it down. From the same article on Bloomberg: "Maybe this is the sign we've all been waiting for that a peak in Libor has...

"These are strong-arm tactics intended to show the market they're seriously committed to breaking the deadlock," said Marc Ostwald, a fixed-income strategist at Insinger De Beaufort SA in London. "The ECB is helping to bankroll banks out of a problem that they themselves created." This is...

JSSPMK, Nice call on the Hang Seng, it was down 850 points at one point.

From Bloomberg: "Former Federal Reserve Chairman Alan Greenspan said he favors spending U.S. government money to bail out mortgage borrowers who risk losing their homes because they can't make payments.... cash bailouts, while creating a larger budget deficit, have the advantage of helping...

I would appreciate any feedback from voters, especially anyone voting for new highs. I would like alternative points of view.

Hey Spectre, what is a movie opening, is that one of those things you go to before you have kids? I can’t seem to remember. I think I would go crazy without my Plasma and HD. Everyone: I started a new poll thread about the direction of the SPX. Just for fun, but I would like to see...

Ok, I got my poll to work. I voted that the SPX will break to the downside because I do not have faith that the Fed's actions and the Administration's sub-prime bailout will do enough to fix our current problems. One of the most troubling things I heard was UBS saying the value of its subprime...

Since we are almost exactly in the middle of our range in the SPX I figured it was time for a poll. On 8/15/07 we closed at 1406.70 (almost exactly tied with the 11/26/07 close of 1407.22) and on 10/9/07 we closed at 1565.15. The midpoint of the range is 1485.93 which is close enough to our...

Someone smarter than me posted that 1527 was resistance. With the run up we have had it looked like a disappointment was probable. Went short, waited until the end of the day. That simple. But it was not my target and the size of the move in my favor was pure luck.

You say you have read lots of book on options and you know about options, but you have started two threads (in the wrong forum no less) with ludicrously simple, uninformed questions. You are either not telling the truth or are here to intentionally waste people's time.

Apex, Thanks for the additional info. Spectre (or anyone else), Don't you think it will be very hard for the market to continue to new highs with most people in the country unable to sell their houses? I am seeing more and more houses in relatively upscale neighborhoods for sale than ever...

Apex, Could you expand on this a little? Maybe I am missing the point but I don't see what you are seeing. NFP : next week's SPX 1/5/07 +21.02 2/2/07 -10.33 3/9/07 -15.89 4/6/07 + 9.09 5/4/07 + 0.23 6/1/07 -28.67 7/6/07 +22.06 8/3/07...

If you are asking if you can duplicate the calculation of the Vix yourself, then the answer would most likely be that it is too complex. From the CBOE's white paper: "The new VIX estimates expected volatility from the prices of stock index options in a wide range of strike prices, not just...

1/16 was a tinnie, 1/4 was a quack, 1/2 was a laugh, 3/4 was the orders. The worst part of being on the floor was the smell when guys in your pit were eating things like burritos. A funny story is when this one lone market maker controlled a pit, he was big and basically crazy looking. One of...

This is an interesting article. I like the line “No type of national bailout will replace that lost equity.” http://news.yahoo.com/s/ap/homeownership_myth;_ylt=AiGZiEJyonhSlC_MAyVGR3gGw_IE

Um, not really sure what you guys watch, but the selloff that started at just before 1pm was from that headline. Take a look at the stocks of MBI and ABK. Stocks don't fall 20% in 1 minute because some arbitrary reading of overbought was hit. The NY subpoenas news was out much earlier. No...

For those who may have missed the reason for the drop, at 12:56 eastern: "In prior research, Moody's identified five monoline financial guarantor groups as being most exposed to deteriorating performance of residential mortgage-backed securities: CIFG, FGIC, SCA (SCA), AMBAC (ABK) and MBIA...