Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: David C. Burns who wrote (972)	6/27/2010 3:19:55 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 1428

So.. since nearly 80% of the trading activity is HFT, do you think that we might see a "traders's strike" that causes the market to go down on Monday, prior to the votes on the bill? We definitely seem to be set up for a sell off in the near future, possibly down to Dow 8500. Volume has been pathetic, we're seeing the DOW, and SPX looking at a Bear Flag formation, and even more sinister, the right shoulder of a H&S formation possibly being created right now. With all this bad news, I'm not really sure what's propping this market up except spit and chewing gum. Could a collapse in the USD being the saving grace, flushing money out of Bonds and into equities. That would certainly result in a bit of Forex protectionism, making US goods more competitive. Hawk

To: David C. Burns who wrote (972)	7/1/2010 11:30:15 PM
From: tejek	Respond to of 1428

It’s a tough bill, and shows the pendulum is swinging toward tighter regulation,” said Frederick Cannon, a banking analyst at Keefe, Bruyette & Woods in New York. “This is going to pressure bank earnings well into the future.” Of course, all the big banks would feel some effect. Goldman Sachs, for example, would have to rein in its high-rolling traders. Wells Fargo would be subjected to stricter rules on consumer lending. And many large banks would feel the pinch of lower transaction fees on debit cards. With owning banks in my IRA, its hard to look at legislation that increases regulation. At the same time, I never want to go through what we have gone through the past two years. Where I live, we lost a major bank that employed many thousands and occupied over 600K sq ft of office space downtown. Its a huge loss. I never realized that bankers could ever become so aggressive and stupid and I don't ever want to see it again.