Day traders allow the financial markets to put a price on the companies that are such a constant vital part of international financial and especially foreign exchange forex markets. Whether it is companies that produce products that are the stock and trade of consumer societies or the financial market and markets of international economies and global trade through the exchanges and trading of foreign currencies on a daily and regular ongoing basis its all the same. Day in and day out the flow and outflows continue- a dollar here , a yen here a mark or ruble there. Money and currencies continue a regular flow just like a river of water. Where they flow , persist to flow and change directions of avenues are the only changes - not the flow of the currencies and the trading itself. Its only the trading patterns and the accumulation or loss of net wealth and earnings at the end of the fiscal time periods that matters in the end.
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Whether it is tulip bulbs , precious metals , real estate , mutual funds , lottery tickets , football games or “penny stocks” , human nature is human nature. Ignorance , greed fear and hope usually if not always determine how people act - and as well those that prey on them. Its the same matter to a great degree even the greatest degree in determining how the markets and financial futures react and behave. How low can prices go or how far can they be driven up. Always people have speculated on one thing or another. Some of it can be explained by social activities and interaction - however the largest share no matter what - is the role played by simple greed. For the last hundred years and certainly into the foreseeable future. speculating on stock prices and currencies offers liquidity , combined with legitimacy and purpose. Both financial currencies futures trading as well stock speculation have become essential and vibrant of both our economy and our lives. Trading is just another word for speculating . Investing in the end is little more than speculation and speculating except for the longer time spans and horizons and for some reason implies less risk taken. Traders buy stock , or any other object of speculation because they anticipate good price appreciation over time.
Speculation and gambling can be said to be quite similar , but with a few important distinctions. One difference is the perception , sometimes true , that successful investors profit due to their skills or an unseen advantage. while gamblers prosper on change or pure luck. Another distinction is that gambline in most forms has been illegal for the better part of the century - that is unless you are government involved in a government run casino. Those in power make the rules to their liking . Once hooked as a “source of revenue” few government give up a major source of income. What a private individual or the mob could never dream of doing - government with the faceless bureaucrats do routinely. Financial speculation has played an important role in our markets, international markets and exports - and ultimately the world economy. These important distinctions , make speculating an accepted occupation in our society and gambling nowhere near as desirable - indeed sometimes gamblers are seen , like alcoholics , or sex addicts as downright deplorable. Whether a gambler , a speculator or a financial currencies trader the end goal is always the same - the chance and chances of making a pile of cash money in a short time - or even in a hurry. It is the immediate measurable gratification of a win that makes what might be considered games irresistible , even unpredictable . However on the other hand significant reinforcement patterns make them even addictive.
The art of speculating in one form or another has been around since the dawn of time. Just look at the major commercial uses of the internet - pornography and gambling. True gambling or such endeavors as card playing are strictly a social activity - as Mr. Morris Brown - pointed out the other day in a discussion at a local burger king. He told the crowd - that as long as you are having a good time , its just a few dollars , for entertainment no harm done. So be it.
You can absolutely sure of several things marks prominent economist M. Labovitch. They are that there will always be people to speculate , history will repeat itself and that Mr. Brown is a fool and a stupid man.
Sure enough the object of speculation may change, the rules may change , technology and forms of communication may change but at the end of it all - someone else may have your money. It used to be that was the town low life or criminal. Not its either your local “financial planner” , some big shot on wall street , who after setting up a no-lose financial rescue plan for his firm. Its either a financial collapse and the federal government bails us out , while in the process awarding themselves obscene bonuses.
Its only a matter a size of the take . However it has gotten to the point that the party may over.
As CNN reports “Wall Street now has a new worry: bonus season.
There are already rumblings that the notoriously lavish payments for bankers and traders could be cut in half from a year ago, following what has been an abysmal year for the securities industry.
Just a year ago, the bonus pie was worth about $33.2 billion, which broke down to an average of $180,420 for the more than 180,000 individuals employed by Wall Street firms at the time, according to the New York State Comptroller’s office.’
You can count again on several certainties in life - greed , greed and greed.
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CEO – Chief Embezzlement Officer.
CFO– Corporate Fraud Officer.
BULL MARKET — A random market movement causing an investor
To mistake himself for a financial genius.
BEAR MARKET — A 6 to 18 month period when the kids get no allowance,
the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING — The art of buying low and selling Lower.
P/E RATIO – The percentage of investors wetting their Pants
as the market keeps crashing.
BROKER – What my broker has made me.
STANDARD & POOR — Your life in a nutshell.
STOCK ANALYST — Idiot who just downgraded your stock.
STOCK SPLIT – When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER — A guy whose phone has been disconnected.
MARKET CORRECTION — The day after you buy stocks.
CASH FLOW– The movement your money makes as it disappears down the toilet.
YAHOO — What you yell after selling it to some poor sucker for $240 per share.
WINDOWS — What you jump out of when you’re the sucker
who bought Yahoo @ $240 per share.
INSTITUTIONAL INVESTOR – Past year investor who’s now locked up in a nuthouse.
PROFIT – An archaic word no longer in use
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Sphere: Related ContentThe crisis on Wall Street is hitting the factory floor.
A raft of dismal reports yesterday showed North American manufacturing is tanking, prompting more predictions that Canada will follow the United States into recession.
U.S. industrial production suffered its worst monthly decline in 34 years in September, plunging 2.8 per cent as the global financial crisis caused businesses to retrench and cut back investments on everything from equipment to commodities.
The Philadelphia Federal Reserve Bank said its business activity index skidded in September to its lowest since October, 1990, in what Goldman Sachs economists called “a horrendous report pointing to substantial deterioration in the manufacturing sector.”
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* WAL-MART’S PLAN FOR TOUGH TIMES: DON’T GET MAD, GET SELLING
* Go to the Report on Business section
The Globe and Mail
Canadian manufacturing numbers from August indicate a major slowdown was taking hold even before the credit crisis kicked into high gear.
Manufacturing shipments fell 3.7 per cent in August, the largest decline since December, 2007, as weaker global economic activity spilled into Canada.
“The near future for Canadian manufacturers looks grim as August is just the beginning of what we expect to be a rocky road ahead,” Diana Petramala, an economist at TD Economics, said in a note to clients.
At Bank of Montreal, the predictions were even more dire. The bank said Canada is all but certain to suffer a recession alongside its largest trading partner, as consumers on both sides of the border rein in spending amid carnage in stocks, housing and commodities.
At Kelowna, B.C.-based Campion Marine Inc., Canada’s largest boat manufacturer, production is being drastically reduced as U.S. consumers stop buying luxury items.
“The world financial crisis is definitely having an impact. We’re down in production a good 40 per cent or 50 per cent. Right now, it is very difficult to sell a boat to an American,” Brock Elliott, Campion’s general manager, said in an interview.
The family-owned company, which will celebrate its 35th anniversary this year, has taken a number of steps to weather the economic storm. Staff has been reduced to 125 employees from 195, more efficient production methods have been put in place and the company has developed new products to appeal to shifting consumer tastes, including more fuel-efficient and environmentally friendly boats.
And while the recent plunge in the Canadian dollar is also helping Campion reduce costs, Mr. Elliott said this downturn is as severe as the nasty recession of 1982 and noted the company is in for even tougher times if Canadian consumers fall away.
Auto manufacturing in Canada has already taken a pounding, and the sector’s woes are mounting.
Vehicle production slumped 18 per cent in August from year-earlier levels as auto makers put the brakes on Canadian production amid a deep slump in U.S. sales.
Vehicle output plunged again in September by 16 per cent from year-earlier levels.
The tentacles of the auto slowdown spread widely throughout the economy, so auto parts makers have been cutting back - Magna International Inc. trimmed 400 jobs last month at a plant that makes frames for General Motors Corp. pickups and sport utility vehicles.
There’s likely more to come because GM announced more cuts in pickup truck production yesterday, three days after moving up the closing of an sport utility vehicle plant in Janesville, Wis., by two years to this December.
Auto parts maker Johnson Controls Inc. added to the job cuts in the sector yesterday with an announcement that it will close a plant in Whitby, Ont., at the end of the year, eliminating 400 jobs.
Jayson Myers, an economist and president of Canadian Manufacturers and Exporters, believes that things are going to get worse for Canadian goods producers before they get better, as orders from U.S. and foreign customers are cancelled.
“I think going into early next year, it’s going to be extremely challenging here and very much tied to the problems around credit. Companies just can’t finance new orders in the United States, and that’s a major part of our market. So that’s having an impact right now and I think there is worse to come - much worse to come,” he said.
Gene Dunn, chief executive officer of Monarch Industries, a Winnipeg-based manufacturer of hydraulic cylinders and portable cement mixers, said: “I think this is going to affect all industries.”
His company exports about 75 per cent of its products to the U.S. and large equipment makers such as Deere & Co. and CNH Case New Holland. Customers are scaling back orders, Mr. Dunn said. “One customer yesterday said that he didn’t want anything further shipped this year.”
Monarch, with revenue of about $100-million a year and factories in Winnipeg and Winkler, Man., has not reduced its 570-person work force, he said, but might have to do so next year if the slump in orders continues.
http://www.theglobeandmail.com/servlet/story/LAC.20081017.RBANKSECONOMY17/TPStory/Business
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I do not invest in US securites to a great degree - many have said. The credit crunch now evident in the US did not start today, it did not start yesterday. Indeed this credit crunch really started at least five years ago when consumer credit started more than rising. Now it seems as if someone in the heavens pushed a button and the sub-prime mortgage cyclone hit. And now its as if not only are most people hit but everyone is affected with a big bill in essence. The value of the US currency has been diluted so to speak. Gone. Worse yet it is not only a local affair destined to get worse or expand over time as the gigantic US sinkhole of imports and trade imbalance grows. Who else in the world is in the position of accepting other countrie’s exports and becoming the dumping ground of all . Certainly not the Asian tiger , not France or Germany, certainly not the Scandinavian countries , and lastly certainly not the third or expanding and developing areas of the third or “second” world.
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Stay the course - Long term is where it is at The biggest part and the biggest emphasis should be international money Be a bottom up investor Employ diversified portfolio strategies as opposed to be thematic or theme driven Value investing in financial tickets is the way it is up and the way to go
Look hard at your portfolio at the moment Is it uncesarrily driven or unvwieldy There are currently a lot of bargains in the offings Its all financial It is all in the financial sector and sectors You can find a great number of good money and good investments at current It is all in the long term view and views.
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Sphere: Related ContentIt is always best to work with your broker of financial adviser to devise a plan that will best meet your objectives as well as short and long term goals. It can be most difficult as it is currently in October Sept /08. Nothing makes sense. Its as if none of the fundamentals count - or to put another way panic and fears step in. All we have to fear is fear itself . Yet in this it theft, lying and cheating. It could be said that foreign markets - the developing markets lack controls. Corruption and misstatement of facts is the norm. Yet is or was much different in the USA. What of the SCC ? What of the watchdogs ? When one turns on the tv and hears ads that “If you have been turned down for a mortgage come to us.” All very reassuring or not reassuring as to the honesty , integrity and intelligence of those being paid big dollars in the financial fields.
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