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Not sure what you refer to by "the big news sources" however it was all over CNBC, both in pre-market and during the market. I believe the buyout was for a cool BILLION.

Agreed. However, even for the equity prop business model that stake the traders 100% and pay a salary/draw, if they are a CBSX member, then they're regulated by their SRO, so I guess they can't really be called a "hedge fund" in the traditional sense.

Agreed, unless the exchanges stop giving rebates, the game has NOT changed, just the stock symbol. As long as the leverage/capital is available, the hedge funds, HFTs, prop firms will move their volume somewhere else, however the "gimmick" of the rebates may lower the margin of profit...

Good post. JP Morgan announced a 500% hike in its dividend (from 5 cents to 25 cents/share). Goldman is buying out Buffett's $5 billion stake, and Citi just announced it will pay a dividend after a 10 for 1 reverse stock split on May 6th, so institutions will now buy in droves given that it...

Good question, another post suggested they had issues with international accounts, however it's not quite clear. Here's a thread which may provide some history. http://www.elitetrader.com/vb/showthread.php?s=&threadid=208910&perpage=6&highlight=bearcapital&pagenumber=1

Actually, Schonfeld let go of 15% of its staff, according to this article: http://www.businessweek.com/news/2010-07-06/schonfeld-to-fire-50-traders-as-speed-curbs-profits.html Chimera is still around, and is one of the few "true prop" trading firms: http://www.chimerasecurities.com...

What specific information are you looking for? Ya, you're right about the link, not much except the disciplinary actions. CBOE will tell you over the phone if a firm is a member. FINRA can check the firm's standing even if it's a CBOE/CBSX if you have the firm's Web CRD#. If you want the...

PropTraderMTL, Yes, it's a very frustrating market for sure, and your honesty is appreciated. Regarding the gap downs, just remember that Uncle Ben is still behind this market with QE2 until June, and will keep pumping money into the economy even as the market heads lower.

Here's the link with the details: http://www.sec.gov/rules/sro/cboe/2010/34-63314.pdf

Check out this link and you'll see the critera required in several listings in what a hedge fund looks for in an applicant: http://jobs.efinancialcareers.com/Hedge_Funds-Trading/USA-NY.htm

I agree with what your stating, as the market has trouble holding direction. Just for clarification, when you say "10 ticks in the SPY" are you watching the ES or the Spiders? I've noticed that having the ES charts on a separate monitor has helped tremendously with entry/exit on a stock...

Each firm is different, as you've already noticed. You can read the CBOE information and legal circulars here: https://www.cboe.org/legal/circulars.aspx Or you can call the main CBSX office and ask for the Regulations Dept. 1-866-458-CBSX

If you want to trade "firm capital" then joining a prop will suffice, however MOST will require you to join as a "Class B" member and put up a capital contribution, and use the firm's buying power. Therefore, you can contact the firms again and ask about their terms on joining the firm as a...

My guess is they don't want to bring back the uptick given all the HFT algos running the volume these days, and without the uptick a large player could just keep slamming the bid on a liquid stock which would flush out the stops, which is exactly what they did during the financial crisis of '08...

Good info. It will be interesting to see how that impacts a news or earnings gap. If it can't get immediately shorted and slammed down by hedge funds/traders/algo programs, then a stock could have a vicious snap back at the open. Example: CSCO gapped down MORE than 10% on its recent...

1. When futures get bid down to create a gap on the equity index, and the market then trades down all day, creating a negative candle (red day) and DOES NOT retrace to fill the gap. 2. When earnings season ends and bulls can no longer keep buying pressure up to hold their gains. 3. When...

Banks also milk their customers in these "conversion fees" for foreign credit card transactions as well. http://www.travelfinances.com/Services/creditcard-conversion-fee-comparison.htm

Interesting. Here's the exchange rate from XE.com: Live rates at 2011.02.14 02:25:00 UTC 70,000.00 AUD = 70,283.56 USD Australia Dollars United States Dollars 1 AUD = 1.00405 USD 1 USD = 0.995965 AUD Somehow there is around a 1.5% discrepancy, perhaps some type of a...

Good post. It will indeed become evident after the fact, however: 1. Earnings season is almost over, and with many bullish reports, it will take continued buying pressure to hold the gains. 2. Many of the Drexion bear market inverse funds are going to reverse-split at the end of month...

"...but what has this market become?" It has become Skynet from The Terminator films. The machines have taken over. Sure, "Buy & Holders could wait it out", and retail traders can still make a buck, as long as they're willing to stomach the volatility. According to the NY Times article...