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Wait a minute - she's dating a TRADER? And she's still spewing crap about a trading tax every day? How can this guy not be talking some sense into her??

Uhhh... no. If you think they are going to destroy the entire futures industry in the United States for the reasons that you said, you are smoking crack. For one thing, the big financial players will not allow it as it will cost them money. And as I said, even the proponents of the tax are...

How can you not understand this? This is SO simple. Do you SERIOUSLY believe that one single person in the entire world would place a trade on the S&P 500 e-mini if the RT cost was $250. ONE PERSON??? It would have to move 26 TICKS, or over 5 HANDLES to get you to break even. That is the...

That is not a wild assumption, that is a reasonable assumption. Just because we have a crazy crackpot or two like DeFazio, doesn't mean that all of them are literally insane. It's one thing to implement a marginally bad policy, it's another thing to implement a policy that can do nothing but the...

You do understand that when many think the markets are overbought, that this is a bullish sign, right? Whenever "many" people think something, the chances of it happening are low. If everyone thought that it was going to go up, I'd be more worried. Either way, just trade the price action and be...

Because even the proponents of the tax have mentioned that the futures would be taxed differently, that's why. I heard one guy mention 1/10 of the normal suggested tax rate. In the sense that they are extremely highly leveraged, like options. You can't make someone pay $5.00 to buy an at the...

That will never, ever, ever, ever happen. $250 per RT is just way out. Even the morons proposing the tax aren't that stupid, and are saying that futures would get a break. Think more like $5-$20 per RT. That's still ridiculous and they still won't end up doing it anyways, but $250 per RT would...

Well, that's the point. She's not really risking anything for them, because they know that this thing will never pass. They are probably a lot smarter and a lot more connected than she is, and know how hard this would be to actually sign into law. Also, she does genuinely seem interested in...

Don't know if it will be 10150 or slightly higher, but that is a very real possibility. In any case, we will see it coming in the price action.

This market isn't that hard to predict, because it's manipulated. All you have to do is look for classic shorting opportunities and go long. :) I doubt that the powers that be are going to get it this close to DOW 10,000 without pushing it over. I mean, think about it: they ram the market up...

Yeah, it would pretty much kill them. CNBC only exists because a lot of small retail traders are trying to manage their own finances by actively trading during the day. If this tax makes that impossible and makes the average retail guy trade once a month, what the heck do you need a news network...

I highly doubt it. I can't see any good reason why CNBC would support this tax. Their viewership is all retail traders, not the insitutional pros. If this tax passes, 80% of their viewers will disappear. They can't possibly want that.

Maybe the big shots don't want to censor her because it would seem heavy-handed ... essentially controlling the conversation based on personal interest. It would make them seem less than transparent if the news got out that they told one of their anchors what they could and couldn't talk about...

I already emailed her twice and explained in rudimentary, grade-5 level math how this tax is anything but "tiny". Unfortunately, since her mathematical skills are currently stuck at the grade 3 level, she failed to understand and is still arguing for it. I wouldn't hold my breath.

Which is why we don't have to worry. The state of NY would lose a lot of money from this type of thing... they wouldn't just let it pass. NY is a little more influential than Oregon, last time I checked...

Without a massive 20 year bull market, he wouldn't have the wealth that he has today. That guy couldn't trade his way out of a paper bag... he's basically just tracking the general market.

Personally, I prefer the term useless idiot.

So Warren Buffet is in favor of a tax that would discourage short-term trading and encourage people to buy and hold. What a shock. I'm sure that none of these people have anything but the best interest of the public at heart. :)

Not to mention that the S&P is currently a whole 6 points off of its high right now - not that much. It hasn't even come close to breaking the uptrend line that has been in place over the past week. It's WAY too premature to be calling a top at the moment.

Either way, I doubt it matters. The G20 ministers met last week and this wasn't mentioned. If they didn't talk about it, it isn't happening any time soon.... America is not going to implement this unilaterally, as it would kill the US markets. The big money is against this idea, and it's...