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Online Share Trading

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i suppose...

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asylum
Super Contributor
a lot of this rally is fuelled by short covering? yes/no?
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9 REPLIES 9
Brazen
Super Contributor
This can't all be short covering. It's a rally. And I thought the bull took the stairs!
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On Wednesday the US SEC banned "naked" short selling - not too much effect - presumably not too many people trade when naked. Yesterday evening the UK FSB banned all shorting of financial stocks - hence this morning jump on opening. This morning US time, the SEC banned all shorting of financial shares, hence this afternoon's activity. I'm willing to bet that those central bankers took long positions before issuing their banning edicts - I say throw them in jail for insider trading and let the market decide how much the pack of cards that is Wall Street is worth.
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I wanted to say "bastard central bankers" but I was scared of Simon aka Net-nanny...
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Simon, would you like to add "bastard", or is that OK?
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Seing as I'm talking to myself here, let me go on. (Tt's good therapy...) From money.cnn.com: "The commission is committed to using every weapon in its *****nal to combat market manipulation that threatens investors and capital markets," said SEC Chairman Christopher Cox. . He is referring to the short-sellers when he talks about "market manipulation" but the only people that are manipulating the markets are him and his cronies. The short-sellers were not trying to manipulate anything. They saw that Wall Street financial companies are worth less than their stock market valuations and made perfectly legal trades in order to profit from this insight and at the same time let the stock values more accurately reflect the values of the companies.
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MenuOption
Frequent Contributor
arsenal is now banned? cool. We should keep a list of cool banned words.
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Not only does Mr Cox (apt surname - surprised it wasn't censored) manipulate the market, he also uses crude language that Net-nanny takes offense at...
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Naked trading ??? "Its only when the tide goes out that you realise who was swimming without a costume" - Warren Buffet
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_nova
Super Contributor
YES, and the daily gap close on the DOW
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