Trading on congressional legislation?

O

og5

On friday the senate passed a bill that would make internet gambling illegal. See below for what happened to Party Poker (largest poker room) on the London stock exchange.:

http://finance.yahoo.com/q/bc?s=PRTY.L&t=5d

I'm a poker player so I was watching this stock with interest to see what would happen. I was pretty confident that the bill would pass and it did by a large margin, effectively crushing all internet gambling stocks. Now that I've seen what congress can do, I'm interested in playing stocks for big moves facing upcoming legislation.

I've read enough to know that many small time investors get killed doing similiar to what I am proposing (Trading on heavy speculation) My question is, is this a fools game or can a rational, sensible investor make money doing this?
 
Yes.

<b>Short</b> freedom and get <b>long</b> political oppression.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1220458>

This country is rapidly plummeting into statism & fascism, and the sheep just answer it with: "Baaaa. Thank you sir, may I have another?"

(Edit: I'm not specifically recommending corrections corp. as a buy here. I'm just recommending that people pull their heads out of the sand for two minutes to f-ing notice what this nation is becoming, and vote Libertarian before we all wake up living in Orwell's worst nightmare.)
 

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Excellent, I'll have to send Bush a card for pushing such a strong trend into the markets :)

But seriously, I think you are really pointing out the impact of sentiment. Public opinion creates political sentiment which in turn creates investor sentiment.

EDIT: vote libertarian? Dude be a realist, you (or your grandkids) will never see a libertarian in office. Take your pick from the lesser of 2 evils :p
 
Quote from og5:

Baaaaaaaa!
More...

A significant impact could be created, even without the Libertarians winning a thing.

Imagine if 10% of voters had cast their ballots for the Libertarian candidate. Suddenly, you'd see both big parties pandering to Libertarians, making frequent pro-freedom (=anti nanny-state)
gestures in attempt to grab our vote- Just like they pander to every other minority group with significant numbers.

Why the fuck do I even bother? It's not like I can do anything to prevent the Orwellian Hell this nation is about to become. That's how Cassandra Complex works, after all.
 
I'm with you Rearden....keep fighting the fight and putting the word out. I am sick and tired of every aspect of my life being controlled and legislated. Who the fuck are they to tell me I can't gamble online?
 
Quote from mschey:

I'm with you Rearden....keep fighting the fight and putting the word out. I am sick and tired of every aspect of my life being controlled and legislated. Who the fuck are they to tell me I can't gamble online?
More...

Don't worry, Nymex natural gas went online on Globex on September 5th!
 
Rearden, I'm with you 100%, too.

The two party system we have in this country is producing a smorgasbord of shit when it comes to candidates and ideas.

That's what we have to choose from: A smorgasbord of shit.
 
Quote from mschey:

I'm with you Rearden....keep fighting the fight and putting the word out. I am sick and tired of every aspect of my life being controlled and legislated. Who the fuck are they to tell me I can't gamble online?
More...

I am with you guys as well. Who the fuck do they think they are?

The more I think about Frist's move to slip in nanny state laws before anyone can even read them, the more pissed off I get, and I don't even spend any time gambling online anymore, it's the principle of the thing. It's outrageous and it cannot stand.

Fletch
 
what is the point ? Those who will listen have already heard. Those who can be persuaded have already bailed. All that are left are the soma addicts. What, exactly, do you hope to change ? The thing that saddens me, is that i lost over half my family last time. I hoped that "never again" would have counted for more than empty verbiage. Alas, i was wrong ... this time, we shall have the final solution with nukes
 
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