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screwball

MotownSports Fan
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screwball last won the day on November 12 2019

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About screwball

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  1. No argument, but it only keeps getting worse. *** A couple of random thoughts about this. I haven't followed the Robinhood crap even though I read headlines (MW might have been one of them) who claimed the RH traders were driving the market higher. That's a bunch of BS right there. Full stop. Somewhere I read an article that claimed the RH trader was 3 percent of the market in the attempt to debunk that. Three percent is too high. First, what is a RH trader? Nothing any different than a (RH or as it always was) day trader, a swing trader, or a guy who runs his own finances with a few million dollars. In the big picture - a gnat on an elephants ***. These people ain't moving ****. Next, this dumb *** was up like a million bucks and didn't take profits. That is off the charts stupid. In a sane world, and laws mattered, this kind of insanity would not be going on. That is nothing new either. Read a book by Michael Lewis called "Flash Boys" which is about high frequency trading taking over our markets. Why is that important? Because it's the arbitrage between prices people pay for some security and the price they see on their screen when they decided to buy it. They game the markets, the exchanges, the order routing, in order to scalp an penny here, a penny there, a fee here, a fee there. Nobody calls it what it should be called - frontrunning (not the fee part). They keep finding new ways to exploit, and many times create, the arb opportunity. Remember, it doesn't matter if you are a retail trader with a RH account, a Vanguard client with a 401k, or the trading desk of Exxon Mobile - your trades go through 24 (last I read) broker dealers which make up the primary market. Everything goes through one of them. Many are swine banks of course. Frontrunning used to be illegal. So did a lot of other things. Go to Greektown and throw it all on red 17.
  2. Wow! I've never had a problem. I wouldn't pay for it either. I use Firefox and there is an add-on that gets by paywalls. MarketWatch isn't listed there either. That is strange. I'll try not to use links from there if people can't hit the site.
  3. Really? I don't have a problem getting through. Not that I really want to. For the most part they suck. πŸ™‚
  4. That explains it better than I did. Once again, like the swine banks, a fine and slap on the wrist.
  5. The Robinhood article is kind of confusing, but you guys are on the right track. The order flows are being arbed to benefit Robinhood, who has a deal with an exchange and the market makers. This is kind of like the dark pools and high frequency trading houses who arb the trades as they get routed. It depends on the deals between brokers, exchanges, MMs and RH. This may be posted above FTA: That's only part of the what I would consider a scam. Further up the article they tell us this; They made it look like a game, complete with ways to create the dopamine rush. Now that's really ****ed up IMO. Trading/investing isn't a game. Well, it may seem like it now since it makes no sense. Furthermore, how can FINRA or the SEC allow this kind of BS? Anyone trading on margin or options (which is usually a margin account) should at least be able to pass the series 7 exam. Options and margin is a very very dangerous way to invest. I can be highly lucrative, but it can also wipe you out in a very short period of time. In short, I would say this entire thing is beyond nuts. But this is where we are in the Everything Bubble. Boooo!
  6. From the "lets give a kid a live hand grenade and see what might go wrong" file; Robinhood Has Lured Young Traders, Sometimes With Devastating Results - NYT
  7. I watched this a week or so ago. What did you find interesting?
  8. I forgot! This is funny. I came here to post this (from Marketwatch): The coronavirus has given investors a β€˜once-in-a-lifetime opportunity,’ says hedge-fund billionaire
  9. I don't need it, but I won't forget it, and I won't go away until I get it. I'm still pissed from 08/09 when they bailed the swine ***** bankers, and they did it again, only worse. It was easy, they had the playbook. So I want mine too. And F them by the way. πŸ™‚ And of course the bailouts once again are AFU. Just like the unemployment mess. 40 million people lost their jobs in what, 8 weeks. Is .gov tooled up to send checks to 40 million people in a short period of time? Cant they spit out 1200 buck checks to what, 100 million or so families? No. And I won't argue that they should have been. This is unprecedented (but not a black swan). From an economy, and eventually the market standpoint, we ain't seen **** yet. The NASDAQ is making new highs while many people are running out of money. In a way, I get all this, but at the same time, I don't. I've always tried to go by the economic data and not the narrative managers who inhabit the likes of Bubblvision. I've done this for a long time and I don't see the rubber hitting the road when it comes to market vs. the yet to be realized economic destruction of Main Street and the Cornholes of America. The numbers are not good. This won't be pretty. My Debbie Downer post of the week. πŸ™‚
  10. I loved sitting at the bar with The Boss drinking beer and playing some sort of video poker after a Tiger game. We always stayed at Greektown. Seemed like it didn't matter if it was before the game or after, I got on a roll and had to leave or go sleepy. We need to do that trip again. Not this year. 😞
  11. 32% of U.S. households missed their July housing payments - CNBC Renters face financial cliff ahead; limited help available - AP This shouldn't be a surprise. FTR I haven't received my $1200 yet.
  12. He's got a long way to go to be the best. πŸ™‚
  13. I know nothing about that kind of stuff, but I admit I didn't know how genuine it might be, which is why I prefaced my post with "Don't know how true this is." I really don't care how it was done. It was cool. Sorry it doesn't meet your standards.
  14. Don't know how true this is. Looks legit. Pretty cool IMO. If only Jimmy Page got out of the truck.
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