CL Redux
- Thread starter schizo
- Start date
beautiful!
I saw that. I was going to post that the other day myself. Shakes his head.
BTW how come no one told me that NoDoji had stepped away from her desk causing the second selloff before I stepped away from my desk and missed it?
Who was assigned to keep an eye on the NoDoji cam today?ADD - I see it rebounded now.
Funny how that works.
Out .70
March 18, 2011, 2:01 p.m. EDT
SEC sues IBM over alleged South Korea, China bribes
SEC accuses Big Blue of improper payments, gifts to South Korea, China officials
By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) â The Securities and Exchange Commission has sued IBM Corp. for allegedly giving improper cash and other gifts to officials in South Korea and China as a way to secure business deals favorable to the tech giant.
IBM (NYSE:IBM) was accused of violating the Foreign Corrupt Practices Act in connection with the alleged payments of cash, travel and entertainment to government officials in the Asian countries from 1998 to 2009, according to the SEC complaint filed Friday.
IBM has agreed to pay penalties and fees, totaling $10 million, as part of a settlement with the SEC.
According to the complaint, even though Big Blue had policies against corrupt practices, âDeficient internal controls allowed employees of IBMâs subsidiaries and joint venture to use local business partners and travel agencies as conduits for bribes and other improper payments to South Korean and Chinese government officials over long periods of time.â
In one example, the SEC alleged that an IBM-Korea manager once handed a South Korean official a shopping bag containing a large IBM-Korea envelope filled with the equivalent of about $19,000, the complaint said.
The IBM manager âpaid similar bribesâ between 1999 and 2001, âin exchange for designating IBM-Korea a preferred supplier of mainframe computersâ to the South Korean government entity and âfor placing orders with IBM-Korea at higher prices,â the complaint said.
As part of the settlement, IBM has agreed to pay a disgorgement of $5.3 million, plus a prejudgment interest of $2.7 million, according to the consent agreement. The company will also pay a civil penalty of $2 million. The agreement must still be approved by a court.
SEC sues IBM over alleged South Korea, China bribes
SEC accuses Big Blue of improper payments, gifts to South Korea, China officials
By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) â The Securities and Exchange Commission has sued IBM Corp. for allegedly giving improper cash and other gifts to officials in South Korea and China as a way to secure business deals favorable to the tech giant.
IBM (NYSE:IBM) was accused of violating the Foreign Corrupt Practices Act in connection with the alleged payments of cash, travel and entertainment to government officials in the Asian countries from 1998 to 2009, according to the SEC complaint filed Friday.
IBM has agreed to pay penalties and fees, totaling $10 million, as part of a settlement with the SEC.
According to the complaint, even though Big Blue had policies against corrupt practices, âDeficient internal controls allowed employees of IBMâs subsidiaries and joint venture to use local business partners and travel agencies as conduits for bribes and other improper payments to South Korean and Chinese government officials over long periods of time.â
In one example, the SEC alleged that an IBM-Korea manager once handed a South Korean official a shopping bag containing a large IBM-Korea envelope filled with the equivalent of about $19,000, the complaint said.
The IBM manager âpaid similar bribesâ between 1999 and 2001, âin exchange for designating IBM-Korea a preferred supplier of mainframe computersâ to the South Korean government entity and âfor placing orders with IBM-Korea at higher prices,â the complaint said.
As part of the settlement, IBM has agreed to pay a disgorgement of $5.3 million, plus a prejudgment interest of $2.7 million, according to the consent agreement. The company will also pay a civil penalty of $2 million. The agreement must still be approved by a court.
Fighting rages on despite Libya cease-fire declaration
Announcement of halt in military action comes day after U.N. authorizes no-fly zone, but clashes still reported
http://www.msnbc.msn.com/id/42145571/ns/world_news-mideastn_africa/
And President Obama will be speaking about this situation.
http://www.msnbc.msn.com/id/21134540/vp/42152790#42152790
Announcement of halt in military action comes day after U.N. authorizes no-fly zone, but clashes still reported
http://www.msnbc.msn.com/id/42145571/ns/world_news-mideastn_africa/
And President Obama will be speaking about this situation.
http://www.msnbc.msn.com/id/21134540/vp/42152790#42152790
Quote from BCE:
BTW how come no one told me that NoDoji had stepped away from her desk causing the second selloff before I stepped away from my desk and missed it?
I did not step away from my desk in pre-market. In fact I had just settled at my desk, noted all my levels, looked at the chart and said, "Trend is up, look for a long entry". Found a long entry and it fizzled. I still had the trade on, in fizzle mode (you can actually feel the momentum has been sucked out of your trade and you sit there with a feeling of hope, knowing deep inside it's very likely over). So I looked at the chart, price fizzling to the long side and saw signs of a 2-leg pullback to the 20 EMA. I figured, well, if it ain't going up, it's going back to the 20 EMA, good for at least a scalp, maybe more, and then I'll look look for another long entry.
(I can't re-iterate enough how important it is to use hard stops, but SOFT targets. I know there are some CL traders here on ET who use fixed targets. At least once a week there's a rogue news-based move that simply defies all the technical stuff and you don't want to take 20 or 30 ticks out of a move like that.)
Picaso, I'm using anticipatory entries more often, and also still using stop entries with no hesitation off the 1-min chart, or when playing pivot entries. But if there's a key breakout level in play (like price in a trend expected to make a new high or low, or an ascending/descending triangle), I like to position myself in advance of the move. There's a risk of getting shaken out, but the occasional losses I've taken while positioning myself in advance are far outweighed by the lack of slippage on entries. The key to getting successfully positioned in advance is the stop placement. A lot of head fakes during ranges, channels, triangles, and I found it best to wait longer than you think before trading. These consolidation periods seem to average between 45-60 minutes, so I don't bother positioning myself until more than 30 minutes inside a containment zone have passed.