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It's call a shareholder lawsuit, and it happens from time to time. There were quite a few after the 2000 tech meltdown. As in any lawsuit, it only works when the defendant has something to lose.

It is important to remember that momentum is a metaphor taken from physics. What works in physics may or may not work in financial markets. There does seem to be something of a bandwagon effect, but I'm not sure how tradable it is. I agree with the previous post that with a little testing...

I would like to see the movie because I think it might be entertaining. I used to regret not trading in the pits when I was younger. I have no interesting in doing that now even if the floor had a future. I was a computer nerd instead, but it seems the market came to me instead. Who woulda...

I thought it was: A fool and his money will soon be a-partying.

The appearance isn't the only problem. The text of the securities transaction tax (STT) bill is for H.R. 1068. That bill is apparently dead, having been reintroduced as H.R. 4191. I think everyone (certainly all traders) should be familiar with what this bill would do. The text isn't too...

I have used TaxAct for years. It's free for Federal, and as far as I know the only one that handles 8-digit investment purchase/sale amounts.

If you're giving the same advice to a lot of people, you're protected by the first amendment. If you're giving specific advice, or managing money, you have to be registered and regulated.

There has been a "desperate nursing shortage" my whole adult life, and I'm older than the hills. This is also an answer to those who think unionization is the answer. Two fields with the greatest chronic shortages are nursing and public education (elementary and secondary), and both are...

I'll take that back. It looks like they have a 64-bit version too. You just have to search for it.

It looks like an interesting product, but it looks like it is 32-bit only for now. Requirements: Operating System: Genuine Windows XP (Service Pack 2 or Service Pack 3); Windows Vista (Gold, Service Pack 1, or Service Pack 2); Windows 7 For Windows XP, a PC with a CPU clock speed of 500...

These are the kinds of questions you should be considering. As you suspected, liquidity on thinly-traded options is exceedingly poor. Your chance of making money on such a trade as a beginner is remote. You might consider trading high-volume, liquid options to start and moving to thinner...

I'm not sure what you mean by "expires Thursday". All options expire at midnight on Saturday after the third Friday. If this is a January, 2010 option, it ceases trading on 1/15 and expires on 1/16. This is not a particularly bad trade, in my opinon, certainly no worse than shorting the SPY...

IB's Schedule D Worksheet has worked for me for several years now. Mine runs about 60 pages, and I send it to Kinko's for 2-sided printing. A few years ago, the IRS put out a "clarification" stating that they expect taxpayers to send details of all securities trades with the filing, and that...

I think it unlikely. If GS is opposed to this, it's hard to imagine it happening. GS could respond in two ways: 1) get an exemption for themselves, or 2) defeat the measure. I would think the second would be easier to achieve and would better serve their interests. GS doesn't see individual...

Are you sure about that? I have read though the draft bill several times, and I am not seeing any exemption for Goldman.

That's an interesting question, and the answer is not entirely clear ... as so often is the case with poorly thought-out legislation. The current bill is H.R. 4191. You can read it here: http://thomas.loc.gov/home/c111query.html Sec. 4475(d)(1)(A) says that the venue collects the tax. To...

The price hovered around 70 for about the last 3 hours on expiration day. Most options traders consider a close within about 0.20 or 0.30 of the strike to be a pinning effect. BTW, according to Natenberg, "pin risk" is being short an option that expires at a price exactly on the strike. The...

I was selling index straddles a few years back, and I did indeed generate outsized returns. But it was that risk of occasional very large setbacks that had me worried. I cannot watch the market 24 hours a day. Sometimes the market is closed, but news keeps happening. I considered just...

If you want to see a recent case of pinning action, check out RIMM on 12/18/2009.

I'm using API 9.60, TWS 898.4, Java 1.6.0_17; WinXP Pro -- no issues.