11/07/2012 Live Update

[louie]

“Rochdale Securities LLC, the brokerage that employs bank analyst Dick Bove, is in advanced talks to save the firm after unauthorized trades in …AAPL… went sour…... a trader bought $750 million to $1 billion in Apple shares last month without permission…. The stock then dropped in value by a few million dollars and depleted the firm's cushion against losses…. Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing.”

http://seekingalpha.com/article/981031- ... view&ifp=0

Look at their leverage. How is that even legal?

[TraderGirl]

TZA broadening wedge playing out...

[Major]

“Rochdale Securities LLC, the brokerage that employs bank analyst Dick Bove, is in advanced talks to save the firm after unauthorized trades in …AAPL… went sour…... a trader bought $750 million to $1 billion in Apple shares last month without permission…. The stock then dropped in value by a few million dollars and depleted the firm's cushion against losses…. Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing.”

http://seekingalpha.com/article/981031- ... view&ifp=0

How does a firm with ~$3 million in capital put on a $700 million position and allegedly clear that transaction? Tell us regulators.

[fehro]

TZA broadening wedge playing out...

TNA daily. also on the trendline.

[uempel]

Checking the weekly with BB13/1 - bulls hope SPX will close above 1410 today

[rc1269]

“Rochdale Securities LLC, the brokerage that employs bank analyst Dick Bove, is in advanced talks to save the firm after unauthorized trades in …AAPL… went sour…... a trader bought $750 million to $1 billion in Apple shares last month without permission…. The stock then dropped in value by a few million dollars and depleted the firm's cushion against losses…. Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing.”

http://seekingalpha.com/article/981031- ... view&ifp=0

How does a firm with ~$3 million in capital put on a $700 million position and allegedly clear that transaction? Tell us regulators.

probably short a similar notional of SPY against it would be my guess

[L_T]

TZA broadening wedge playing out...

Are you long TZA or short TNA or any of the other smallie ETF's? Just curious. IWM has a fib level at about 80.30 and support at 200 daily EMA at around 79.60 that may "attract" price to that area IMHO.

[fehro]

testing neckline. head fake? then up.... or sharp drop? .. lower lines for possible support.

[Me XMan]

I think market will sell big from here.

testing neckline. head fake? then up.... or sharp drop? .. lower lines for possible support.

[uempel]

“Rochdale Securities LLC, the brokerage that employs bank analyst Dick Bove, is in advanced talks to save the firm after unauthorized trades in …AAPL… went sour…... a trader bought $750 million to $1 billion in Apple shares last month without permission…. The stock then dropped in value by a few million dollars and depleted the firm's cushion against losses…. Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing.”

http://seekingalpha.com/article/981031- ... view&ifp=0

How does a firm with ~$3 million in capital put on a $700 million position and allegedly clear that transaction? Tell us regulators.

There are several categories of capital. On top they certainly have additional private equity of a few million and all capital can be leveraged up to 100 - 250 times it all depends on what kind of status the institution has. Welcome to the industry!

[Al_Dente]

Rochdale
"The Apple trade is the focus of an FBI investigation as an 'alleged market-manipulation scheme,' …[ the SEC and FINRA]… joined the investigation..."

http://www.bloomberg.com/news/2012-11-0 ... rades.html

[TraderGirl]

TZA broadening wedge playing out...

Are you long TZA or short TNA or any of the other smallie ETF's? Just curious. IWM has a fib level at about 80.30 and support at 200 daily EMA at around 79.60 that may "attract" price to that area IMHO.

Long TZA...IRA's wont let me short..

I don't necessarily play price...I play time if it hits support at the right timing...yesterday had a turn, was to be a high in the markets and TZA found support at the right time....

Seeing a low in the markets around 12-15th next week....possible bounce on Friday....

[Petsamo]

I read those articles on what to invest if Obama won, and there's something they overlooked: Mexico
Below, the blue line is EWW (Mexico) divided by SPY. In comparison, the pink is EEM (emerging markets) divided by SPY.



As you can see, on sell offs, you don't want to be long either EWW or EEM, but on rallies, EWW is a decent non-leveraged alternative to leveraged ETFs. Compared to the rest of Latin America, Mexico outperforms.

[Al_Dente]

today is my birthday. i’m off to a b-day breakfast and will try to extend the celebrations for as long as I can.
GL2all

[jarbo456]

today is my birthday. i’m off to a b-day breakfast and will try to extend the celebrations for as long as I can.
GL2all

happy birthday old man. hope you have a great one.

[TraderJoe]

today is my birthday. i’m off to a b-day breakfast and will try to extend the celebrations for as long as I can.
GL2all

A VERY HAPPY BD to you!!!!!!!!!!!!!

[louie]

Happy Birthday Al!

[Cobra]

members only update at 10:23 am
http://www.cobrasmarketview.com/2012/11 ... ay-update/

[Cobra]

support.

[johnnywa]

Tradergirl,new moon 13th eclipes on 13th or 15th?.Relief rally on Fridwway than back down Mon-Wed.