Discussion in 'Business, Careers & Education' started by mikeman, Feb 2, 2011.
Nice deals on European stocks, IMO.
DNDN is giving me a migraine. And ARNA too.
Looks like more blood in the streets today.
Lol, disappointing when both bonds and stocks decline. Only exception that I saw was in German bunds. Pfizer and church and Dwight surprised me with positive gains also.
GLUU is up 7% today. Is anyone participating in the Facebook IPO, (ignore if this has been already asked)
Glu's not gonna hold those gains with the market the way it is now. The joys of holding a high beta stock hehe
Ooooh. ARNA gets a nod from the fda advisory board. In everyone's experience...when is the best time to sell after good news? Right away or give it a couple days?
jpm dragging down financials....with exception to wfc for some reason.
I'd sell. Good chance it goes up but thats a big profit. Dont get greedy.
Probably right away, IMO
Anyone know what exactly the trade was that has JPM eating shit?
Nope, Dimon's not telling ROFL.
"synthetic credit securities" is all we get
Have a feeling they were playing with Greek credit default swaps and got burned.
No fucking way... greek debt?
Best I have heard is that the main culprit was a large short position in CDX IG 9 (which is actually a long credit position, as CDS is inverse), which is an investment grade corporate debt index of CDS contracts. Essentially he got too big and moved his own market, and then things started going against him when the hedge funds got word that he was over-extended and they bought up CDS (sending spreads wider, causing the loss).
Here is one attempt at an explanation:
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