Is this Citygroup thing going to affect IB?
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The TED spread ( the yield differential between 3mo. T-Bills and 3mo. LIBOR) closed today at 20 basis points. In 1991 at the height of anxiety over Citi etal the spread would commonly trade at 150. That means that the credit markets are giving almost zero credance that any major failures are on the horizon. Which of course is not to say that the market can't be mis-priced.
It might be a dumb question, my friend but don't you tell me if trading is right or wrong for me. Yes, English is not my first language, yes - I've been living in North America for only 4 years (3 of them trading). Maybe I don't know much about how the American economy works and all that shit but does this really matter for trading? Yes, I keep my trading simple and stupid - I don't use all that fancy stuff like BB, stoch. or fundamentals etc. - all I need is a trend tool and volume and yes (surprise!) I make money and live in a penthouse.
And sorry about that misspelling. I'll be more careful next time.
'That is perhaps the dumbest thing I have heard all day. Citigroup (its spelled with an "i") only happens to be the largest bank in the WORLD. Your statement seems to suggest that trading might not be the right activity for you. '
Now *** THAT *** is perhaps the dumbest thing I've heard ... Anyone who thinks great big businesses from America don't fail is dumber than a rock.
That's why the total corporate bankruptcy filings are the highest in history and the year is only half over.
Nothing special about C ... it's a business like any other and they can get in hot water like any other. C also happens to be the BIGGEST household finance company in the USA. If the unemployment rate rockets up and the predicted housing bubble pops (which it will) then C is definitely a candidate for the shit pile. However, I think before that happens we'll have lots more warnings and there will be lots of support from the Feds.
I also am a bit concerned about C, as it is not only IB's bank, but my personal bank. Never hurts to be aware, cognizant, and willing to keep an open mind about possible future dangers.
That is a characteristic of all GREAT traders ...
Now *** THAT *** is perhaps the dumbest thing I've heard ... Anyone who thinks great big businesses from America don't fail is dumber than a rock.
That's why the total corporate bankruptcy filings are the highest in history and the year is only half over.
Nothing special about C ... it's a business like any other and they can get in hot water like any other. C also happens to be the BIGGEST household finance company in the USA. If the unemployment rate rockets up and the predicted housing bubble pops (which it will) then C is definitely a candidate for the shit pile. However, I think before that happens we'll have lots more warnings and there will be lots of support from the Feds.
I also am a bit concerned about C, as it is not only IB's bank, but my personal bank. Never hurts to be aware, cognizant, and willing to keep an open mind about possible future dangers.
That is a characteristic of all GREAT traders ...