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Well at least you weren't trying to pick bottoms in the shower! If there are a lot of longs in and he is more dovish than expected, then there shouldn't be instant profit taking offloading into locals as the markets haven't bounced enough yet for any trade to be decently onside. HVB started...

Well the chief currency strategist at oz commonwealth bank says he has a feeling the ecb will hike today sending euro/usd to 122. I know jpmorgan, ubs and deutsche have all said a hike in dec and "officials" have said the bank will move before february. Is anyone else of the opinion that if...

prices paid highest since may 2004 in ISM, employment much stronger and chicago pmi yesterday all say the heat is building

I think it will be a shorter statement with the hurricane blurb removed but would be surprised to see any change in the significant, "accomodative" and "measured pace" wording. 25bp hike 3 out of 88 economists surveyed on bloomberg are going for unchanged everyone else 25 hike

Flowers will hike bid if needed. http://today.reuters.com/news/newsArticleSearch.aspx?storyID=112158+21-Oct-2005+RTRS&srch=refco Also says account withdrawls are drying up, the loyal majority remain.

I'd prefer Flowers or Dubai Investments, all I've ever read about IB is complaints, they sound pretty useless. Whichever firm backs the biggest use of leverage for Mac traders :D Hopefully the Dubai government could leverage us to the hilt. On a more serious note Flowers has an...

Here you go... http://today.reuters.com/news/newsArticleSearch.aspx?storyID=148311+20-Oct-2005+RTRS&srch=refco ...."Before Refco can sell the business, Drain must approve the sale. If approved, an auction resumes, in which other bidders can seek due diligence and confidentiality...

sorry didn't know where to put it

What will happen to this case, I'm sure TT were maxed out short on the refco stock trying to take it under. Will this case just evaporate leading to industry wide TT charging on round trips? Brumsfeld must be doing cartwheels, he looked finished a few weeks ago and now this happens... Wasn't...

The article doesn't mention the fact that the statements back to 98 were unreliable. They stated great health of the company's finances after the scandle - according to who? Probably true but no accountant was willing to vouch for that.

depends what deal you were on, no probs if fully backed but if you were asked to keep a reserve to trade big then if you remove it it's going to be an issue. Nothing's really changed on the risk front these rules had always been in place. The leverage is extremely generous at mac by anyone's...

"refco llc winding down business" according to bloomberg terminal headline, sourced from the Depository Trust co. website said only new business is offsetting positions

You understand nothing. The mac accounts are not frozen and money can be freely withdrawn. Go and sit down and then we can get some peace from what's coming out of your arse.

You seem pretty heartless towards the employees. I assume you'd take the same view that if innocent people die in a terrorist attack in the US they got what they deserved because they put their faith in their leader Bush. They obviously should have got on top of their leader and not allowed his...

but fcm and securities operations continue as normal "refco llc and securities substantially unaffected" the regulated parts of the business including segregated account withdrawls and regulated brokerage are business as normal.

The noggins at LTCM thought so, just keep averaging!:D

S&P analyst on Bloomberg TV just said it is likely refco will need to file for bankruptcy if any creditors pull out saying if you strip down the company's assets you end up with a negative balance sheet:confused:

Paul Rotter and crew

down 12.27% today already, min 12% a day return shorting over the last 3 days, now that's a return on investment, not that I shorted it, just looks good in hindsight obviously:p

One theory for what went on.... "One plausible theory is that Refco had uncollectible debt that it or some of its employees did not wish to write down, accountants said. The debt was instead transferred to a company controlled by Bennett. That was a crucial step. Had an insolvent company...