How much faith do you have? Or, Just How Badly Are You Really Going to Be Screwed?
How much faith do you have in the system of stocks, trading and investing on Wall Street do you have? Do you believe that it’s only a matter of time before the money that you think you have in your eTrade, Schwab, Morgan Stanley, Merrill Lynch, Goldman Sachs, etc stock account is plundered like those of MF Global and Peregrine? How much faith do you have that the price of oil, gold and most every other commodity and derivative product on the planet aren’t manipulated and rigged on a daily basis like that of LIBOR? How much faith do you have that your deposits at First Union, er Wachovia, er Wells Fargo, NationsBank, er, Fleet Boston, er Bank of America or Chemical, er, Chase, er JP Morgan?
How much faith do you have that the endless “Debt Crises” from the financial sector and/or Europe will magically fix itself with quantitative easing and bond buy backs and so on and so forth?
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The ECB may soon undertake open market operations and consider other unconventional steps to lower high borrowing costs of euro-zone economies. 18 min ago
How much faith do you have that you aren’t being screwed on every trade you do by high-speed frequency trading computers that are front-running your every order and glitches in the system like that of Facebook’s first trading day and/or yesterday’s intraday trading snafus?
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Knight Capital is pursuing ways to “strengthen its capital base” in the wake of trading glitches that the firm says likely cost it $440 million. 24 min ago
I’m being sincere in asking these questions. Please send me your answers to support@tradingwithcody.com or comment in the Subscriber Chat sidebar on TradingWithCody.com that subscribers can access and learn from other subscribers. There are some great traders and investors whom I’ve known for more than a decade in the room most days, so come on by there.
