Insider Trading Trial Of Sac’s Martoma Delayed Until January

Huishan Dairy and its investors sold a total of 3.8 billion shares at HK$2.67 apiece, with the company raising HK$7.52 billion after deducting underwriting fees, it said yesterday. The price was at the top end of a marketed range. China is pushing to raise standards in its dairy industry as consumers distrust of local milk has driven them to source products overseas or turn to foreign brands. Formula makers need to own their milk sources and have research and development capability, according to a draft of new rules for the baby-milk industry published in August.
Source: http://www.bloomberg.com/news/2013-09-27/huishan-dairy-falls-in-trading-debut-after-1-3-billion-ipo.html

“Yes, I have arrived,” Strassberg said, when the court reporter asked if he was present. Gardephe took the bench a few minutes later, and Strassberg informed him that he had to return to the courtroom of U.S. District Judge Jed Rakoff, who is presiding over the Countrywide case, by 2 p.m. After Gardephe set January 6 for the start of the Martoma trial, Strassberg requested the trial be pushed back to January 13, saying it would be difficult to prepare witnesses over the holidays.
Source: http://www.reuters.com/article/2013/09/24/us-sac-martoma-trial-idUSBRE98N13Y20130924

Commodity Trading Advisors, puzzled by Fed, head for third year of losses

economic stimulus. Known generically as “managed futures”, or Commodity Trading Advisors (CTAs), many trend followers were whipsawed in the first half by market gyrations over whether the Fed would cut its bond buying this year. More volatility seems likely; last week, the Fed said it needed more time to decide. Commodities often saw sporadic price moves this year that eluded the computer-piloted trading models of managed futures funds seeking to build out positions from trends that typically last over months.
Source: http://www.reuters.com/article/2013/09/26/us-funds-commodities-trendfollowing-idUSBRE98P1BM20130926

Trading Bearish Reversals

Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 25.14% if the stock gets called away at the May 2014 expiration (before broker commissions). Of course, a lot of upside could potentially be left on best performing etfs the table if CLDX shares really soar, which is why looking at the trailing twelve month trading history for Celldex Therapeutics, Inc., as well as studying the business fundamentals becomes important. Below is a chart showing CLDXs trailing twelve month trading history, with the $36.00 strike highlighted in red: Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 39%. On our website under the contract detail page for this contract , Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted).
Source: http://www.forbes.com/sites/stockoptionschannel/2013/09/26/first-week-of-may-2014-options-trading-for-celldex-therapeutics-cldx/

China to Allow Interbank Trading of Certificates of Deposit

A draft plan seen by Bloomberg News shows the zone may liberalize 19 industries from banking to shipping and allow freer convertibility of the yuan. The nation would probably allow onshore trading of large-denomination, negotiable certificates sold by big banks by year-end, Linan Liu, a Hong Kong-based strategist at Deutsche Bank AG, wrote in a Sept. 16 research note. Certificates of deposit will provide flexibility for banks to manage cash because the securities, unlike interbank loans, are tradable, Hong Kong-based Liu Li-gang and Shanghai-based Hao Zhou, economists at Australia & New Zealand Banking Corp., wrote in a note to clients today after Hus comments.
Source: http://www.bloomberg.com/news/2013-09-26/china-set-to-allow-interbank-trading-of-certificates-of-deposit.html

Inside Wall Street’s High-Frequency Trading Technology Arms Race

That said, the basis of HFT is still using proprietary computer algorithms to rapidly trade securities, moving into and out of positions in fractions of a second. In 2005 traders’ systems generally ran on gigabit networking using stock networking equipment. Linux was frequently used although there was nothing really highly tuned to speak of, and the focus was on quantitative research. But when some traders started discovering the opportunity to profit from what is known as “latency arbitrage,” or being able to profit from executing trades before others, they kicked off the mother of all races to reach zero latency. When it comes to software and algorithms, the statistical arbitrage models used are pretty simple. “Because latency is so critical you can’t do too much,” explains Lauer.
Source: http://www.pcmag.com/article2/0,2817,2424495,00.asp

First Week of May 2014 Options Trading For Celldex Therapeutics (CLDX)

After the uptrend sets in, price continues that familiar price action gyration of making higher-highs, and higher-lows. Its when price is in the process of making new higher-lows that things start getting interesting. Because its in that range of time that traders can start looking for reversals of the short-term trend, for a return of the long-term trend. Created with Marketscope/Trading Station II How to Trigger Entries Much like we looked at in the article, Using Price Action to Catch Swings in The Forex Market , traders can utilize a 4 step process to institute this strategy.
Source: http://finance.yahoo.com/news/trading-bearish-reversals-190700410.html

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Judge The Stock Market By What It Does Not What It Says…

But now, with Summers out of the way, the path is clear for the current deputy chairman, Janet Yellen. She loves money printing, hence the markets overjoyed response to her assuming the lead in the race to win the Federal Reserve chair. It all sounds very believable. But if you do believe http://www.todayhotstocks.com it, were afraid you need your head examined, because its 100% hogwash An important thing to remember about markets is that theyre always looking for reasons and excuses to move in one direction or the other. Sometimes its a verifiable and justifiable reason.
Source: http://countingpips.com/forex-news/2013/09/judge-the-stock-market-by-what-it-does-not-what-it-says/

Explaining stocks and the stock market

The improved economic outlook has ultimately to show up in a stronger earnings picture. The 2013 Q3 earnings season that got underway this morning with FactSet Research ( FDS ) release and after the close from Adobe Systems ( ADBE ) will give us a sense of how good the earnings picture is through the quality of guidance for the following quarter. We are still a couple of weeks away from the full-fledged start of the earnings cycle, but the reports willl continue trickling in, including from FedEx ( FDX ) and Oracle ( ORCL ) on Wednesday. Expectations for Q3 have fallen enough that it wouldnt take much effort for companies to come ahead of them, but estimates for Q4 still remain elevated and reflect a material growth ramp up. The standard practice over the past year or so has been that companies beat expectations for the reporting quarter, but guide lower for the following period, prompting estimates to come down.
Source: http://finance.yahoo.com/news/market-not-worried-taper-132224012.html

Stock Market After-Hours Top Gainers, September 16 – Perceptron Yesterday’s Leading Gainer

This is one of the peculiarly dangerous months to speculate in stocks in,” he wrote in a mock diary entry in the novel “Pudd’nhead Wilson .” He added, “The others are July, January, September, April, November, May, March, June, December, August and February.” Twain published this bit of satire in 1894, two years before the birth of the Dow Jones industrial average. He wasn’t much of an investor himself, but he nevertheless captured the behavior of the stock market from his time to the present. Stock speculation has been dangerous in all seasons, of course, much as Twain suggested. But, oddly, he was right about something else: a new statistical study shows that October, by some measures, is the most “peculiarly dangerous” of all months for the stock market. The two months that bracket it are almost as risky, the study also says, and autumn Mondays are particularly perilous days of the week. The research was done by Salil Mehta , a statistician and econometrician who has firsthand experience with risk measurement, on Wall Street and in Washington, where he was director of analytics in the Treasury Department for the $700 billion TARP program, and director of policy, research and analysis for the Pension Benefit Guaranty Corp.
Source: http://articles.economictimes.indiatimes.com/2013-09-16/news/42084076_1_stock-market-dow-jones-london

Market Not Worried About Taper

In 2012, Europe was the best performing region with Greece as the best performing country. Value investing worked quite well. I offer a second hypothesis for emerging market underperformance: There is more corruption in those countries and less of the economic gain flows to shareholders. To make matters worse, investor returns in emerging market funds tend to badly lag the fund returns as money flows into these funds after stellar performance. My advice is to own the world but not to overweight emerging markets. A low cost total international stock index fund such as Vanguard’s Total International fund (VTIAX) does just that with a low 0.16% expense ratio.
Source: http://www.cbsnews.com/8301-505123_162-57602953/emerging-market-stocks-miss-global-stock-surge/

Emerging market stocks miss global stock surge

YOU On Demand Holdings, Inc. (NASDAQ: YOD) also made a substantial gain, improving by 7 percent to $1.53 per share on 2,000 shares traded. YOD stock, however, is still 14.02 percent below its 50-day moving average and 9.47 percent below its 200-day moving average. YOU On Demand is 63.71 percent below its 52-week high and 43 percent above its 52-week low.
Source: http://easternmorningherald.com/stock-market-after-hours-top-gainers-september-16-perceptron-yesterdays-leading-gainer/1231212/

Is October the most dangerous of all months for the stock market?

savings bonds, or stashing cash under your mattress. Of course, “over time” is a relative term. As any stock investor knows, prolonged bear markets can decimate a portfolio. Since World War II, Wall Street has endured several bear markets — defined as a sustained decline of more than 20% in the value of the Dow Jones Industrial Average. Bull markets eventually follow these downturns, but again, the term “eventually” offers small sustenance in the midst of the downdraft.
Source: http://money.cnn.com/magazines/moneymag/money101/lesson5/index2.htm

Dubai: Duped Forex Investors Demand Money Back

If and when something does happen in Syria, all of us will be made well aware. Meanwhile, Down Under it was Governor Grahame Stevens at the Reserve Bank of Australia (RBA) who kept the market interested overnight. He and his fellow policymakers left the cash rate unchanged (+2.5%), in line with consensus. Forward guidance no longer signals a clear dovish bias and the phrase, inflation outlook could provide some scope to ease policy further was removed. For the time being the AUD has managed to rally, mind you the fear of war has higher commodity prices helping the Aussie.
Source: http://www.forbes.com/sites/deanpopplewell/2013/09/03/missile-alerts-will-keep-forex-traders-on-edge/

Forex Trading Success Tip – Keep Your Emotions in Check

At least Dh40 million worth of investments remain unaccounted for, with most of the money coming from investors life savings and personal loans. The company requires $3,000 (Dh11,016) to open an account with them. Some investors who talked to Gulf News claim they had invested more than $100,000. Related Links Investors should exercise caution The decision to file a group police complaint came following a closed-door teleconference with Awan at his MMABank GT office at Mai Tower in Al Ghusais on Friday afternoon.
Source: http://gulfnews.com/news/gulf/uae/general/dubai-duped-forex-investors-demand-money-back-1.1228239

Forex reserves dipped to 7 months import cover at end-March

Because of its deficits, it has fared worse than other emerging market currencies since the U.S. Federal Reserve first indicated it is considering reducing its bond-buying stimulus. External factors coupled with slowing domestic growth have dragged the rupee to a series of record lows, forcing the central bank to sell dollars from its reserves to avert a deeper slide of the local currency. The rupee touched a lifetime low of 68.85 to the dollar on August 28, and ended at 67.63/64 on Tuesday. India’s ratio of short-term debt to forex reserves rose to 33.1 percent at the end of March from 28.7 percent last September, the central bank added in its half-yearly foreign exchange reserves management report.
Source: http://in.reuters.com/article/2013/09/03/india-rbi-forex-reserves-idINDEE9820F720130903

Over the past three years, Singapore’s average daily forex turnover has grown 44 per cent, reaching US$383 billion (S$489 billion) in April this year. The pace surpassed the 35 per cent growth seen in global forex turnover. Average daily turnover for interest rate derivatives in Singapore grew 6 per cent to US$37 billion in April this year – the second-highest figure for Asia, behind only Japan’s. The figures were revealed in the BIS triennial central bank survey of turnover in forex markets.
Source: http://business.asiaone.com/news/singapore-now-asias-largest-forex-centre

Forex – GBP/USD up during the Asian session

Dollar on Sunday. GBP/USD was trading at 1.5631, up 0.001% at time of writing. The pair was likely to find support at 1.5522, Tuesday’s low, and resistance at 1.5681, Friday’s high. Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8427 and GBP/JPY rising 0.81% to hit 156.19.
Source: http://www.moneycontrol.com/news/rupee/forex-gbpusdduringasian-session_946428.html

Singapore now Asia’s largest forex centre

Keep in mind that the forex market is incredibly volatile, and you need to factor this into your trading decisions and strategies. To prevent yourself from incurring really large losses, you should always place a stop-loss order on your forex trading platform; this way, you do not have to constantly watch the market, which will only turn you into a nervous wreck. On the other hand, when your trades are actually going better than you thought, it will make you want to stick around to find out just how high your profits will go. This can be pretty exciting, and also very risky because the market may take a nosedive when you least expect it. So, to make sure that you are actually making a profit, place an order on your platform to get out once you have made a certain amount of money; just make sure that you place a decent number. Stop-loss orders and take-profit orders a recommended part of any trading plan can be extremely helpful in controlling ones emotions as they cut down on the amount of trading decisions one has more info to make and help to eliminate unnecessary emotional stress that can accompany those decisions.
Source: http://countingpips.com/forex-news/2013/09/forex-trading-success-tip-keep-emotions-check/

Stock Futures See Strong Post-labor Day Gains

regulators and is planning on listing its class A shares onthe New York Stock Exchange under the symbol RMAX. Re/Max’s public offering, a first for the 40-year-old company, is a sign that Re/Max wants to better ridea rising U.S. housing market. Is Re/Max a good opportunity for investors to ride the bullish trends of the United States housing market, or should investors hold back snapping up shares at Re/Max’s IPO? Based on the macroeconomic conditions of the housing market and the success of publicly listed Re/Max competitors, Re/Max could provide a great opportunity for long-term investors. However, any valuation analysis that might come into play later would be moot at this point, since Re/Max hasn’t yet detailed the number of shares being offeredand thefinal price of the IPO.
Source: http://www.fool.com/investing/general/2013/08/31/the-next-stock-to-ride-the-housing-market-wave.aspx

Sort of. Sure, Rigondeaux is one of the more talented fighters to ever lace up the gloves. His southpaw stance and unrivaled amateur credentials make him as close to a sure thing as anyone could possibly be. However, Rigo is already 32 years old, and hes proved to be a bit chinny at times in his career (e.g., he was knocked to the floor by Donaire during their tussle).
Source: http://bleacherreport.com/articles/1759368-stock-up-stock-down-for-top-stars-in-boxing

markets return from long weekend Economic data, tech sector deals in focus Nokia shares rocket higher on Microsoft deal SHARECONNECT TWEET COMMENTEMAILMORE Wall Street was returning from the long Labor Day weekend with solid, pre-market gains. Ahead of Tuesday’s opening bell, Dow Jones industrial average index futures, Standard & Poor’s 500 index futures and Nasdaq index futures all added around 1%. In focus for Tuesday: The Commerce Department will release July construction spending and the Institute for Supply Management releases its manufacturing index for August. Both releases are due at 10 a.m. ET.
Source: http://www.usatoday.com/story/money/markets/2013/09/03/stocks-tuesday/2756723/

MARKET SNAPSHOT: U.S. Stock Market Likely To Turn With Syria

The Dow Jones Industrial Average /quotes/zigman/627449 DJIA -0.21% finished down 1.3% for the week and 4.5% for the month. Similarly, the S&P 500 index /quotes/zigman/3870025 SPX -0.32% declined 1.8% for the week and 3.1% in August, while the Nasdaq Composite Index /quotes/zigman/12633936 COMP -0.84% closed down 1.9% for the week and 1% on the month. President Barack Obama on Saturday said he has decided military action is appropriate, but he would still seek congressional authorization on the use of U.S. military force against Syria.
Source: http://www.marketwatch.com/story/stock-investors-face-big-week-volatile-september-2013-09-01

U.S. stock market read more likely to turn with Syria

In June, it said regulators were investigating its handling of an initial public offering for another company. That came as the government was looking at whether Chinese brokerages were examining companies’ finances closely enough before selling shares to investors. A spokesman for the China Securities Regulatory Commission said investors will be allowed to sue Everbright over possible losses, according to state television, the newspaper China Securities Journal and other outlets. There has been no word on the size of potential losses. Former CEO Xu Haoming, who resigned last week, was banned for life from the securities industry.
Source: http://abcnews.go.com/International/wireStory/china-fines-brokerage-85m-stock-market-chaos-20115587

China Fines Brokerage $85M for Stock Market Chaos

While stocks tend to bounce back after the uncertainty of military action gives way to the reality of decisive action, the current stock market is different from past times this has occurred, said Dan Greenhaus, chief global strategist at BTIG LLC. For example, stocks rallied after the U.S. toppled Saddam Hussein in Iraq in 2003, but they were also at the tail end of a four-year bear market. That’s a different starting place than the current 41/2 year bull market, Greenhaus said. Syria aside, jobs data will be a ‘major deal’ Even with Syria dominating the conversation over the past week, payrolls data on Friday will be a “major deal” in the coming week as it precedes the mid-September Federal Open Market Committee meeting, Greenhaus said. “While one number doesn’t say what the Fed does, a lot of weight has been placed on that [jobs] number regardless,” he said.
Source: http://www.nasdaq.com/article/market-snapshot-us-stock-market-likely-to-turn-with-syria-20130902-00121