The "up-to-the-minute Market Data" thread

More of "road decay" syndrome:

Here, on the smaller sample, we have the "methodology" of informing people on WTH is going on. You will see in the linked article that "trains were traveling Tuesday morning at a maximum speed of 35 m.p.h., slower than usual".

"Slower than usual" = "slower than expected"???



Subway in crash was older, needed to be phased out

www.csmonitor.com...

Red line train 214 was stopped just outside the station, waiting for clearance to move to the platform. A second train, No. 112, came up behind it and "for reasons we do not know, plowed into that train," Metro General manager John Catoe Jr. told reporters.

We "don't know..."

Hm, not English speaking?

One area for examination is why the Metro system's computerized signal system failed in its mission to keep the trains from coming too close to each other. Another issue is why the operator of the striking train, who was killed in the crash, failed to apply brakes manually to prevent the accident.

Blame it on computers. The operator had no idea... there was going to be an accident... Computers didn't tell him.

The train that caused the accident was made up of Series 1000 cars, the oldest in the fleet. Debbie Herman of the NTSB told the Associated Press that the agency had warned of safety problems with the older cars and recommended that the cars be phased out or retrofitted to better withstand a crash. She said it was "unacceptable" that neither had been done.

What's computer failure got to do with the "oldest cars"?

The train that was struck was made up of newer cars that were equipped with data recorders to provide information in the event of an accident. The Series 1000 cars, the type in the striking train, do not have data recorders.

"Newer cars" will provide us with necessary data to understand what happened?


The conclusion of this incident "analysis": They're gonna need new cars (as is correctly indicated in the headline).

Metro has a total of 1,126 rail cars in its Metrorail fleet. There are 290 1000-series rail cars, 364 2000/3000-series rail cars, 100 4000-series rail cars, 188 5000-series rail cars and 184 6000-series rail cars.

www.wmata.com...

reply to post by RetinoidReceptor


If you invest $100 and you borrow $50, and god forbid the stock losses 95% of it's value, and your left with $5 dollars.... you still owe the bank/broker $45...

Most margin accounts require a certain criteria as far as amount deposited, credit history or some form of collateral. It is after all, technically speaking, a loan.

If your a new trader and you have (typically under $25k) and you have no form of collateral, you're not very likely to get margin trading..

But I suppose GBM would know more about it.. he trades on the Margin and with an auto trading computer program at that.

Originally posted by Rockpuck
reply to post by RetinoidReceptor

 

If you invest $100 and you borrow $50, and god forbid the stock losses 95% of it's value, and your left with $5 dollars.... you still owe the bank/broker $45...

Most margin accounts require a certain criteria as far as amount deposited, credit history or some form of collateral. It is after all, technically speaking, a loan.

If your a new trader and you have (typically under $25k) and you have no form of collateral, you're not very likely to get margin trading..

But I suppose GBM would know more about it.. he trades on the Margin and with an auto trading computer program at that.

You would be surprised how easily equity margin is given out. Options, futures and forex isn't given out so freely (many places don't allow you to even open an account unless you are 21+). If the stock decreases by 95%, then they can get their money through your pay checks or what not with a court order. if that still doesn't work, then they take the loss. But how many times will a stock decrease by more than 50% in one day? Not very much. So they make more money off of you with the interest as opposed to the risk of having to pay for you.

The 50% deposit requirement for a margin account can disappear very quickly if the market goes against you and your position drops in value by more than 30%. I've never heard of anyone being sued by a broker for losses that exceed the 50% requirement though? The broker is supposed to just liquidate your investment assets if you don't respond to a margin call by adding additional funds.

No surprises in the stock market today, kind of looks like last weeks chart with a big drop Monday followed by consolidation. The Fed will not be raising interest rates tomorrow so the sheep will just eat whatever calming line they have to offer up concerning green shoots.

Technically we are at kind of a risky point on the Dow since bad news could drop all the indexes through a key technical support area. Are you still long after today GBM?

[edit on 23-6-2009 by fromunclexcommunicate]

reply to post by DangerDeath


I always find it odd when trains collide... surely the conductor HAS to see the other big train in front of him, even if it's more then a mile away (assuming no bends).. perhaps it was another case of texting like LA? Even still, it made me sick to watch the reporters desperately interview anyone they could to get the most exciting story of what happened, hardly containing their smiles..

Originally posted by Rockpuck
reply to post by DangerDeath

 

I always find it odd when trains collide... surely the conductor HAS to see the other big train in front of him, even if it's more then a mile away (assuming no bends).. perhaps it was another case of texting like LA? Even still, it made me sick to watch the reporters desperately interview anyone they could to get the most exciting story of what happened, hardly containing their smiles..

The whole article is so contradictory!

Obviously, the only thing they care is to get new cars.

It says "we don't know", then it states "why the Metro system's computerized signal system failed" ... They obviously know that!

If it was a computer system failure, what's old cars got to do with the accident?

I'm pretty confident the engineer had no time to react. When he noticed the other train it was too late. Not a mile ahead, for sure...

Optimism stalls amid second thoughts on recovery
www.reuters.com...

NEW YORK (Reuters) - After months of wishful thinking, investors are nervous again about financial markets and the world economy, and it may take a flurry of much better economic data to make them believe in a sustainable recovery.

Anxiety grew on Monday after the World Bank cut its 2009 global growth forecast, saying the world economy will contract 2.9 percent this year.

That added to a decline that has hit major markets identified with increased risk -- global stock markets, currencies such as the euro, and oil, copper, gold and other commodities.

reply to post by Rockpuck


Well after the "failed stimulus" you are never going to get the government admitting that, remember the "better than expected and "slower than expected mantra" so when he said that "the government missed the mark" probably means that another stimulus will be needed.

Wanna bet?

reply to post by Hx3_1963


I knew that, no wonder the markets could not make it throughout the day, that means that the economy overall is far from "better than expected and more of slower than expected"

Nice...better than expected?

US consumer confidence nears record low in latest week-ABC
www.reuters.com...

NEW YORK, June 23 (Reuters) - ABC News on Tuesday released
its weekly index on consumer confidence in the United States.

The Consumer Comfort Index fell in the latest report to
-53 from -49 the prior week.

The index is now just one point above its all-time low of
-54, which was reached in the week ended Jan. 25, 2009, and
before that in the week ended Dec. 1, 2008.

Sure...when all else fails...change the rules...

UPDATE 1-FASB overseers to seek input on new strategic plan
www.reuters.com...

NEW YORK, June 23 (Reuters) - In a move that could change the way accounting rules are set in the United States, the group that oversees U.S. accounting rulemakers plans to embark on a "listening tour" in the next few months to develop a new two- to three-year strategic plan for its boards.

The Financial Accounting Foundation trustees, who oversee the U.S. Financial Accounting Standards Board (FASB), will meet with small closed discussion groups of investors, auditors, academics and regulators in New York, Dallas, San Francisco, Chicago and Washington, D.C., as well as with the FASB's standing advisory groups.

"The meetings will be a key building block to our strategic plan," FASB spokesman Neal McGarity said on Tuesday.

"This outreach process we are undertaking is a continuation of the work the FAF trustees did over the last few years. Although it's not something new, it's a strategic and ambitious program to map out the course ahead."

[edit on 6/23/2009 by Hx3_1963]

reply to post by Rockpuck


Thats not true man, you might work for a company that is like that but I can go right now and open an account with 500 margin and 500 in reserves, thats all it takes

reply to post by fromunclexcommunicate


A couple pages back I posted a quote from a post I had from June 6th. That post is still where I am at.

Help Me!!! (...think "The Fly")

Banking "broken," consumers need help: U.S. watchdog
www.reuters.com...

WASHINGTON (Reuters) - The outspoken head of a U.S. Congressional watchdog panel will strongly urge lawmakers on Wednesday to set up a new government agency to protect consumers from "tricks and traps" set by banks.

President Barack Obama has called for creating an independent financial products agency to oversee consumer lending as part of his sweeping proposal to overhaul the U.S. financial regulatory system.

"We can help fix the broken credit market. And I can sum it up in four words: Consumer Financial Protection Agency," said Elizabeth Warren, chairman of the Congressional Oversight Panel of the Troubled Asset Relief Program, in prepared remarks.

reply to post by DangerDeath


The story keeps moving.. now we have a thread about the General that scrambled the 911 jets being killed in the crash. This happened near the Maryland/DC border. Technically it sounds like a bad junction signal from somewhere.. Guess we just need to keep listening.

A blog I found that is saying the same thing I have been talking about regarding 8200-8300 and S/R

Its not much, but its something to look at
Here

reply to post by Hx3_1963


Another government office? if Obama keeps increasing Government he will very soon may have to build another congress and white House to just to be able to accommodate the lobbyist for that will be after each new agency he is creating.

Darn now I see where all the new jobs will be created, in the lobbying business.

reply to post by marg6043


Well he promised to create jobs... and apparently this is the best way he knows how.

Financial institutions now crying foul play about the government forced TARP money.

Well now the money was forced upon them?

This is do to the bad response of the public after the government forced the tax payer into giving away tax money to finance the TARP.

Now this getting better.

Bad Blood Between Business and Govt then Bad blood between he tax payer against the government and the financial

"When we signed the contract, the biggest risk was the fact that we didn't know what we didn't know," CEO Tom Geisel of New Jersey-based Sun Bancorp told CNNMoney.com. "The government was a partner that could do whatever it wanted. That's not a partnership. I've never signed a document like that before in my life, and I'll never sign one again."

This just fantastic.

money.cnn.com...

[edit on 24-6-2009 by marg6043]

Now this getting even better, A fight of wills between the Neil Barofsky, the inspector general overseeing the TARP bailout, with Treasury Secretary Timothy Geithner regarding authority over reporting on the bailout. .

So who have more power than who, here, after all isn't Neil Barosfsky appointed directly by the President to oversee what the treasury is doing with the TARP?

I guess Obama forgot that Geithner only answers to the federal Reserve.

Now however, after initiating several investigations of Treasury officials involved with the scandalous AIG bailout and executive compensation arrangements, Secretary Geithner is calling a legal dispute as to who Barofsky reports to. Geithner believes that the reports should go through him to the President’s desk, not directly to the President himself.

Obviously, the Treasury Department does not want to lose clout regarding the bailout and the billions of dollars in TARP allowances handed out. Barofsky’s office is a threat to their legitimacy in that area. More importantly, Barofsky’s investigations are a threat to top Treasury officials, perhaps including Secretary Geithner.

.

You know the amount of corruption running in an administration when the offices starts to fight with each other.

www.economyincrisis.org...

The power struggle is showing its ugly head.


[edit on 24-6-2009 by marg6043]

AIG & .Gov have done such a good job of shoving money in the banks back door a raise is in order!

Citi to boost employees' base pay by up to 50 percent: report
www.reuters.com...

(Reuters) - Citigroup Inc intends to raise employees' base salaries by as much as 50 percent this year to offset smaller annual bonuses, the New York Times said, citing people with direct knowledge of the plan.

With an eye on retaining employees and neutralizing a drop in the value of their stock holdings, Citi also plans to award millions of new stock options to employees, according to the paper.

Citigroup officials declined to discuss the issue on the record with the New York Times, but told the paper the changes would bring the bank's compensation plan in line with the general Wall Street view that bonuses are a form of deferred salary and not one-time payouts.

Goldman Sachs on pace for record bonuses: report
www.reuters.com...

NEW YORK (Reuters) - Goldman Sachs Group Inc is on pace to make record bonus payouts after a robust first half, the Guardian newspaper reported on Sunday.

Goldman staff in London were briefed on the outlook and told they could look forward to the bonus hikes if the company registers its most profitable year ever, the report said.

The surge in projected profit can be attributed to a lack of competition and increased revenue from trading foreign currency, bonds and fixed-income products, the newspaper said, citing insiders at the firm.