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Traders turn to StockTwits for ideas
About 90,000 people have signed up to the site which sees those trading the market tweet their view on a stock. These are then displayed in a rolling format on StockTwits. Of the 90,000 about 15,000 tweet.
Meanwhile...
Firm brings choppers, spy cameras to oil data game
Kentucky-based Genscape Inc, which has been selling power supply data since it was founded in 1999, has been flying a helicopter over the nation's top oil storage hub in Cushing, Oklahoma, every Friday since January, snapping photos to see how full the tanks are.
The data from the pictures, along with infrared scans for tanks with fixed instead of floating roofs, is analyzed by a sophisticated computer program back at the head office to calculate the volume of oil in storage.
This is a reminder to me that the odds of making serious money as a modern worker in the day trading industry are laughably small. I simply do not have a helicopter and therefore would not be able to compete effectively. I also do not have the resources of Goldman Sachs. Go figure.
Goldman's big rebound raises some eyebrows
But critics accuse the investment bank of greed and profiting from others' weak spots, and they haven't been kind in characterizing Goldman. Nobel laureate economist Joseph Stiglitz at Columbia University likens Goldman's business to gambling, because in the last two quarters the largest growth came from its trading desks. In the second quarter, its revenue from trading and investing in stocks, bonds and currencies nearly doubled to $10.8 billion.
"Goldman's activity is of negative social value. Its recent profits came from trading, which basically amounts to profiting from insider information at the expense of others," says Stiglitz.
And lastly...
Investors are thrilled yet anxious about stock market rally
"I'm scared, I'm scared, I'm scared," Leon said. "Why are we up, especially with unemployment as high as it is? I don't feel great because I worry that we could have a 500- or 600-point drop in a day and I won't be quick enough to pull out of it in time."
...
"Every single day I get ready to click the sell button and pull my chips off the table," Murphy said. "It's confusing, and I'm afraid of what to do and afraid we could be in a bubble. The market's looking floppy, and the reasons for growth don't make sense."
...
Anthony Costantino, who lives in downtown L.A. and works in the billing department of a nonprofit organization, just opened an account that he plans to fill with technology stocks at a clip of $500 a month. He knows he's missed the rally since March but believes a bigger surge lies ahead.
Realtor.com Reports Active Inventory Up 25.9% YoY
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*What this means:* On a weekly basis, Realtor.com reports the
year-over-year change in active inventory and new listings. On a monthly
basis, they report t...
4 hours ago
5 comments:
Mark,
from your last comment on the last thread, are you saying:
"Everything that has an end has a beginning"
From the Matrix Revolutions climatic scene.
GYSC,
"By the time SkyNet became self-aware, it had spread into millions of computer servers across the planet. Ordinary computers in office buildings, dorm rooms; everywhere. It was software - in cyberspace. There was no system core. It could not be shut down. The attack began at 6:18 PM, just as he said it would. Judgment Day. The day the human race was nearly destroyed by the weapons they'd built to protect themselves. I should have realized our destiny was never to stop Judgment Day. It was merely to survive it, together. The Terminator knew. He tried to tell us, but I didn't want to hear it. Maybe the future has been written. I don't know. All I know is what the Terminator taught me. Never stop fighting. And I never will. The battle has just begun." - The Ending Quote from Terminator 3: Rise of the Machines (2003)
Damn that day trading "software" and the hundreds of trillions of dollars worth of derivatives products "designed to protect" ourselves!
Holy moly!
Is HFT really Shynet!? We need to change future histiry, unless the paradox block really exists, and ...I could go on!
Mark,
I went off on a rare rant tonight on the blog, would be delighted if you checked it out.
GYSC,
I just installed firefox. I'm looking for a reason to browse!
Mark,
Thanks so much for stopping in. I do miss you my comrade in arms, but understand there are way more important things in life.
Best to you and yours,
GYSC
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