Hello,

This email message is a notification to let you know that
a file has been uploaded to the Files area of the nwcciclub
group.

   File        : /Taming Risk – A trader’s guide.pdf
   Uploaded by : makkie2007 <makkie2007@...>
   Description : free ebook on Risk, Options and Portfolio Theory (for e.g 401k)

You can access this file at the URL:
http://groups.yahoo.com/group/nwcciclub/files/Taming%20Risk%20%80%A0%A0%92%B6%20\
A%20trader%80%A0%A0%92%B2s%20guide.pdf

To learn more about file sharing for your group, please visit:
http://help.yahoo.com/l/us/yahoo/groups/original/general.htmlfiles

Regards,

makkie2007 <makkie2007@...>

Dear nwcciclub - Members and - Organizers,

I do very much enjoy your shared informations, posts, documents and ideas.
They do help me a lot in my own trading and investment journey.
Today, I like to give back a litte.

Lately, I came across this free ebook:

"Taming Risk – A trader's guide" - by N. Hallett

I got it via a lead of ino.com. and I am not affiliated with anyone of them, The
book is also nearly free of spam.

You can get it here free, if you are willing to give your email.

http://www.thedisciplinedtrader.com/taming_ino.php

OR, I also uploaded the PDF to the files section of NWCCI for your convenience.

It has 71 pages, but is quite compressed, good structured and time saving.

The level is beginner to medium learner.

I am a beginner regarding options and MPT - so it was a good fit :) .

IMO, the quality of the content is very good, from a beginners point of view.


Table of Contents


Introduction....4

Chapter 1: Basics about Risk and Money Management.... 5

Chapter 2: Money Management-Basic Rules.... 8

Chapter 3: Money Management-Profit and Loss Strategies   12

Chapter 4: Types of Risk.... 21

Chapter 5: Risk Reduction Strategies-Equities.... 30

Chapter 6: Risk reduction strategies-Options.... 39

Chapter 7: Trader actions to reduce risk.... 57

Chapter 8: The trading Psyche.... 64

Appendix A: Developing an Investor-Trader profile.... 69


Good trading & learning all !
p.

--- In nwcciclub@yahoogroups.com, "Bruce Linker" <bruce@...> wrote:
>
> Hey Friends,
>
>
>
> I may be one of the last people to find this site, but just in case - I have
> a new favorite website: www.freestockcharts.com.
>
>
>
> This site, created by Worden, is truly free and has very good charts with
> semi-realtime data (it lags a little) - along with all the popular stocks
> lists (NAZ100, S&P500, etc.). It even has scanning available, albeit a small
> taste of what is available when becoming a paying customer.
>
>
>
> The chart can have indicators, drawings, scaling adjustments, most anything
> you need. If you do not have a good chart platform already - or you are
> caught on a computer without your trading platform - just open a browser and
> go to www.freestockcharts.com. I think it's pretty cool.
>
>
>
> Bruce
>

TY Bruce for this link. looks very  helpful. I will give it a try.

makkie

 

Hey Friends,

 

I may be one of the last people to find this site, but just in case – I have a new favorite website: www.freestockcharts.com.

 

This site, created by Worden, is truly free and has very good charts with semi-realtime data (it lags a little) – along with all the popular stocks lists (NAZ100, S&P500, etc.). It even has scanning available, albeit a small taste of what is available when becoming a paying customer.

 

The chart can have indicators, drawings, scaling adjustments, most anything you need. If you do not have a good chart platform already – or you are caught on a computer without your trading platform – just open a browser and go to www.freestockcharts.com. I think it’s pretty cool.

 

Bruce

Please mark your calendars - the December meeting is now scheduled.

Date(s): Saturday, December 19, 2009
Time: 10:00 AM to 1:00 PM
Room: Room 4
Library: Bellevue Regional Library

As usual, I understand that this is close to the holidays and many of you might
not be able attend the meeting. Please know that if there is anyone who is not
out of town and still wants to discuss the market and look at charts, I plan to
be there.

If I don't see you, I wish everyone an incredible holiday.

Cheers!

Bruce

Guss, you and I may be the last ones in the world trading 5 min CCI.  hard to
figure, since it works so well
Norma

--- In nwcciclub@yahoogroups.com, Guss <nasdaq@...> wrote:
>
> Hey Norma,
>
> Glad to hear from you,
>
>
>
> Still trading CCI, 5 min charts J intraday , ym, TF, Euro
>
>
>
> Guss
>
>
>
> From: nwcciclub@yahoogroups.com [mailto:nwcciclub@yahoogroups.com] On Behalf
> Of remember98045
> Sent: Monday, October 19, 2009 17:08
> To: nwcciclub@yahoogroups.com
> Subject: [nwcciclub] Re: Being ready to exit long-term Longs
>
>
>
>
>
> Hi Guss
>
> So good to see you. Yes, I still trade CCI intraday, and really, really like
> it
>
> How do you trade these days?
>
> Norma
>
> --- In nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com> , Guss
> <nasdaq@> wrote:
> >
> > Thanks Norma for sharing J
> >
> > Are you still trading intraday using CCI?
> >
> > Hope all is well at your end.
> >
> > Stay in touch
> >
> > Regards,
> >
> > Guss
> >
> >
> >
> > From: nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com>
> [mailto:nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com> ] On
> Behalf
> > Of searchdog07
> > Sent: Monday, October 19, 2009 00:51
> > To: nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com>
> > Subject: [nwcciclub] Re: Being ready to exit long-term Longs
> >
> >
> >
> >
> >
> >
> >
> > --- In nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com>
> <mailto:nwcciclub%40yahoogroups.com> ,
> > "remember98045" <ejenner@> wrote:
> > >
> > > I put this post in Files because I couldn't get the charts to post right
> > here
> > >
> > > Norma
> > >
> >
> > Thanks Norma, your analysis pretty much matches the analysis of a service
> I
> > subscribe to. Here is the abbreviated weekend report:
> >
> > Dear Subscribers,
> > The latest Expanded Weekend Market Newsletter, issue no. 1187, October
> 16th,
> > 2009, is available at www.technicalindicatorindex.com To access this
> report,
> > simply log in and click on the Weekend button.
> > For those of you with busy schedules, here is an executive summary:
> > The Industrials fell 67.03 points Friday, closing at 9,995.91. NYSE volume
> > was lower on the decline at 107 percent of its 10 day average. Downside
> > volume led at 75 percent, with declining issues at 65 percent, with
> downside
> > points at 72 percent. S&P 500 Demand Power fell 6 points to 395, while
> > Supply Pressure rose 7 points to 369, telling us Friday's decline was
> strong
> > and solid. The 15, 30 and 60 minute Full Stochastics give indecisive
> > guidance.
> >
> > It looks to us as if the last wave of an a-up, b-down, c-up for (E)
> started
> > Wednesday, and continued Thursday. Thursday morning saw small degree wave
> iv
> > down in the morning, and v up in the afternoon, of what is likely the
> first
> > of five waves for c-up of (E) up. In other words, it looks to us as if
> wave
> > 1 up of c-up finished Thursday afternoon. Friday's decline was likely most
> > of wave 2 down, with three more waves left for c up of (E) up. This wave
> > c-up of (E) up could be a strong rally leg that sends prices up another 5
> > percent or so. We recognized a new small Bullish Reverse Head & Shoulders
> > bottom Wednesday in the Industrials that is looking for a rally to at
> least
> > the 10,200 to 10,300 area. This could take a couple of weeks which is
> > interesting as it places a top for this rally around our next phi mate
> turn
> > date and Fibonacci Cluster turn window.
> >
> > There are large Bearish Divergences in volume, our 10 day average
> > advance/decline line indicator, and the MACD. These divergences are
> warning
> > in spades that a significant top is approaching. We present and discuss in
> > detail these divergences on pages 3 through 7 in this report at
> > www.technicalindicatorindex.com . As you will see, similar divergences
> were
> > present at the October 2007 top that led to a one and a half year plunge.
> >
> > Both the Daily and Weekly Full Stochastics are overbought, and warning a
> top
> > of significance is approaching. The Dollar is bottoming and due for a
> > bounce, which fits with the expectation of a coming stock market decline,
> as
> > money will likely flow from stocks to dollars and Treasuries. Treasuries
> are
> > bottoming, as shown on the chart on page 54.
> >
> > This weekend's report at www.technicalindicatorindex.com includes more
> > analysis of our coming phi mate turn date and Fibonacci turn window, which
> > could point toward the top for the rally from March 2009. We also present
> > several Bearish patterns that warn of a catastrophic plunge over the
> > horizon, and present a chart showing how the Bear Market unfolded during
> the
> > Depression of the 1930s, which could provide a blueprint for the current
> > Bear Market.
> >
> > The McClellan Oscillator fell to negative -49.90 Friday. The Summation
> Index
> > fell to positive + 4,518.38. The Demand Power/Supply Pressure indicators
> > remain on an enter long positions signal Friday, October 16th. NYSE New
> > Highs fell to 203, with New Lows at 3. We believe markets are setting
> > themselves up for another series of Hindenburg Omens. Getting one would be
> a
> > strong sell signal and warning catastrophic wave (C ) down was dead ahead,
> > or had started. If a wave (C ) plunge occurs without a Hindenburg Omen, it
> > will be an anomaly, the first time that has occurred in the last 25 years.
>
> >
> > The percent of DJIA stocks above their 30 day moving average rose to 90.00
> > from 86.67 in spite of Friday's decline, a bullish divergence suggesting
> > more upside is coming before the significant top arrives. The percent
> above
> > 10 day fell to 73.33 from 86.67. The percent above 5 day fell to 60.00
> from
> > 86.67. The NYSE 10 day average Advance/Decline Line Indicator rose to
> > positive + 644.8, a bullish divergence against Friday's decline, remaining
> > on a "buy" signal from October 8th, when it rose above the positive +
> 120.00
> > threshold for a new "buy."
> >
> > Our three Blue Chip key trend-finder indicators (other than the Demand
> > Power/Supply Pressure Indicator) remain on a "buy" signal Friday.
> >
> > The NASDAQ fell 14.04 points Friday, closing at 1,739.32. The Russell 2000
> > fell 7.16 points Friday, closing at 616.18. The HUI Amex Gold Bugs Index
> > rose 1.67 points Friday, closing at 446.01. November Gold fell to 1050.7.
> > Silver was flat at 17.41, while December Oil rose to 79.02. The Dollar
> rose
> > 0.12 to 75.62. Bonds rose three quarters of a point to 119^17. The VIX
> fell
> > 0.29 to 21.43.
> >
> > Check out our October Specials, good through Sunday, October 18th,
> including
> > a fabulous 14 month offering, only $259, a little over $18 a month, or 2
> > years for only $459 at www.technicalindicatorindex.com . If you are
> enjoying
> > your subscription, please tell a friend.
> >
> > Best regards,
> >
> > Robert McHugh, Ph.D.
> >
>

Hi Guss

So good to see you.  Yes, I still trade CCI intraday, and really, really like it

How do you trade these days?

Norma

--- In nwcciclub@yahoogroups.com, Guss <nasdaq@...> wrote:
>
> Thanks Norma for sharing J
>
> Are you still trading intraday using CCI?
>
> Hope all is well at your end.
>
> Stay in touch
>
> Regards,
>
> Guss
>
>
>
> From: nwcciclub@yahoogroups.com [mailto:nwcciclub@yahoogroups.com] On Behalf
> Of searchdog07
> Sent: Monday, October 19, 2009 00:51
> To: nwcciclub@yahoogroups.com
> Subject: [nwcciclub] Re: Being ready to exit long-term Longs
>
>
>
>
>
>
>
> --- In nwcciclub@yahoogroups.com <mailto:nwcciclub%40yahoogroups.com> ,
> "remember98045" <ejenner@> wrote:
> >
> > I put this post in Files because I couldn't get the charts to post right
> here
> >
> > Norma
> >
>
> Thanks Norma, your analysis pretty much matches the analysis of a service I
> subscribe to. Here is the abbreviated weekend report:
>
> Dear Subscribers,
> The latest Expanded Weekend Market Newsletter, issue no. 1187, October 16th,
> 2009, is available at www.technicalindicatorindex.com To access this report,
> simply log in and click on the Weekend button.
> For those of you with busy schedules, here is an executive summary:
> The Industrials fell 67.03 points Friday, closing at 9,995.91. NYSE volume
> was lower on the decline at 107 percent of its 10 day average. Downside
> volume led at 75 percent, with declining issues at 65 percent, with downside
> points at 72 percent. S&P 500 Demand Power fell 6 points to 395, while
> Supply Pressure rose 7 points to 369, telling us Friday's decline was strong
> and solid. The 15, 30 and 60 minute Full Stochastics give indecisive
> guidance.
>
> It looks to us as if the last wave of an a-up, b-down, c-up for (E) started
> Wednesday, and continued Thursday. Thursday morning saw small degree wave iv
> down in the morning, and v up in the afternoon, of what is likely the first
> of five waves for c-up of (E) up. In other words, it looks to us as if wave
> 1 up of c-up finished Thursday afternoon. Friday's decline was likely most
> of wave 2 down, with three more waves left for c up of (E) up. This wave
> c-up of (E) up could be a strong rally leg that sends prices up another 5
> percent or so. We recognized a new small Bullish Reverse Head & Shoulders
> bottom Wednesday in the Industrials that is looking for a rally to at least
> the 10,200 to 10,300 area. This could take a couple of weeks which is
> interesting as it places a top for this rally around our next phi mate turn
> date and Fibonacci Cluster turn window.
>
> There are large Bearish Divergences in volume, our 10 day average
> advance/decline line indicator, and the MACD. These divergences are warning
> in spades that a significant top is approaching. We present and discuss in
> detail these divergences on pages 3 through 7 in this report at
> www.technicalindicatorindex.com . As you will see, similar divergences were
> present at the October 2007 top that led to a one and a half year plunge.
>
> Both the Daily and Weekly Full Stochastics are overbought, and warning a top
> of significance is approaching. The Dollar is bottoming and due for a
> bounce, which fits with the expectation of a coming stock market decline, as
> money will likely flow from stocks to dollars and Treasuries. Treasuries are
> bottoming, as shown on the chart on page 54.
>
> This weekend's report at www.technicalindicatorindex.com includes more
> analysis of our coming phi mate turn date and Fibonacci turn window, which
> could point toward the top for the rally from March 2009. We also present
> several Bearish patterns that warn of a catastrophic plunge over the
> horizon, and present a chart showing how the Bear Market unfolded during the
> Depression of the 1930s, which could provide a blueprint for the current
> Bear Market.
>
> The McClellan Oscillator fell to negative -49.90 Friday. The Summation Index
> fell to positive + 4,518.38. The Demand Power/Supply Pressure indicators
> remain on an enter long positions signal Friday, October 16th. NYSE New
> Highs fell to 203, with New Lows at 3. We believe markets are setting
> themselves up for another series of Hindenburg Omens. Getting one would be a
> strong sell signal and warning catastrophic wave (C ) down was dead ahead,
> or had started. If a wave (C ) plunge occurs without a Hindenburg Omen, it
> will be an anomaly, the first time that has occurred in the last 25 years.
>
> The percent of DJIA stocks above their 30 day moving average rose to 90.00
> from 86.67 in spite of Friday's decline, a bullish divergence suggesting
> more upside is coming before the significant top arrives. The percent above
> 10 day fell to 73.33 from 86.67. The percent above 5 day fell to 60.00 from
> 86.67. The NYSE 10 day average Advance/Decline Line Indicator rose to
> positive + 644.8, a bullish divergence against Friday's decline, remaining
> on a "buy" signal from October 8th, when it rose above the positive + 120.00
> threshold for a new "buy."
>
> Our three Blue Chip key trend-finder indicators (other than the Demand
> Power/Supply Pressure Indicator) remain on a "buy" signal Friday.
>
> The NASDAQ fell 14.04 points Friday, closing at 1,739.32. The Russell 2000
> fell 7.16 points Friday, closing at 616.18. The HUI Amex Gold Bugs Index
> rose 1.67 points Friday, closing at 446.01. November Gold fell to 1050.7.
> Silver was flat at 17.41, while December Oil rose to 79.02. The Dollar rose
> 0.12 to 75.62. Bonds rose three quarters of a point to 119^17. The VIX fell
> 0.29 to 21.43.
>
> Check out our October Specials, good through Sunday, October 18th, including
> a fabulous 14 month offering, only $259, a little over $18 a month, or 2
> years for only $459 at www.technicalindicatorindex.com . If you are enjoying
> your subscription, please tell a friend.
>
> Best regards,
>
> Robert McHugh, Ph.D.
>

Michael, thanks for good sharing.  Good stuff
Norma


--- In nwcciclub@yahoogroups.com, "Michael Meek" <bigfootmm@...> wrote:
>
>
> Nice work on the analysis, Norma. Thanks!
>
> Below are comments that might be of interest made by David Elliott, who is a
> big deal on TCNet and ThinkorSwim,:
>
> "For the past several months many investors have had trouble trying to
> relate the DJ-30's move to current economic conditions, and projected
> conditions.
>
> First understand that the current DJ move back to the 10,000 level is all
> smoke and mirrors.
>
> The November 2008 move to 10,000, and the current move to 10,000 does not
> reflect the same stocks that made our 2008 highs. DJ has conveniently
> removed the big three Bankrupt stocks that would drag the index down to
> lesser levels had they not replaced them. Note that not one Talking Head on
> TV has mentioned this glaring discrepancy.
>
> The fact is the 2008 DJ stock index is well below the 10,000 level. Those on
> TOS can re-create the current DJ, minus the three replacements of GM, C, and
> AIG, to get a real current DJ number to compare to last November.
>
> And this, "dump the losers" and " add winners" also holds true for the SP
> and NASDAQ!
>
> I suspect to get the DJ to new highs we will see the addition of GOOG and
> AAPL, to the DJ Index, within the next two years, in with more of dump the
> losers and add winners in order to claim new market highs.
>
> Which brings up another point.
>
> Robert Prechter will continue to miss market low projections in severe
> economic moves as a result of the DJ pulling the big losers from their index
> and replacing them with winners. He was expecting to see the markets take
> out our last lows of the year.. Not likely with the "smoke and mirrors"
> game. Using the 2008 DJ Index he could possibly be right, in my opinion,
> should we see fallout from the H1N1 or a second economic double dip."
>

Re: Being ready to exit long-term Longs


Brian

Thanks for the McHugh summary. I used to subscribe to that; it is good.

I probably should have made the topside of my target areas level with the bottom
of wave 1 down, feb-mar 2008, which is higher than I showed.

The move up from Mar 2009 to June was 14 weeks (+2224pts on INDU), and the move
up from July to now (Oct 16) is also 14 wks (+1916 pts on INDU). McHugh is
apparently looking for a blowoff top of C wave in his corrective ABC up from Mar
2009. And that is very possible. But at the moment a truncated C looks quite
probable too, hence the early warning, because if the latter is the case, the
upmove could be complete.

Because that is not yet clear, my own choice was to pull 30% to safety, and
establish both stops and next exits for the remainder. Stops won't necessarily
work if there is a fast drop, and that is the reason I preferred to take some
off the table on Oct 15.

Norma

---

--- In nwcciclub@yahoogroups.com, "remember98045" <ejenner@...> wrote:
>
> I put this post in Files because I couldn't get the charts to post right here
>
> Norma
>


Thanks Norma, your analysis pretty much matches the analysis of a service I
subscribe to. Here is the abbreviated weekend report:

Dear Subscribers,
The latest Expanded Weekend Market Newsletter, issue no. 1187, October 16th,
2009, is available at www.technicalindicatorindex.com  To access this report,
simply log in and click on the Weekend button.
For those of you with busy schedules, here is an executive summary:
The Industrials fell 67.03 points Friday, closing at 9,995.91. NYSE volume was
lower on the decline at 107 percent of its 10 day average. Downside volume led
at 75 percent, with declining issues at 65 percent, with downside points at 72
percent. S&P 500 Demand Power fell 6 points to 395, while Supply Pressure rose 7
points to 369, telling us Friday's decline was strong and solid. The 15, 30 and
60 minute Full Stochastics give indecisive guidance.

It looks to us as if the last wave of an a-up, b-down, c-up for (E) started
Wednesday, and continued Thursday. Thursday morning saw small degree wave iv
down in the morning, and v up in the afternoon, of what is likely the first of
five waves for c-up of (E) up. In other words, it looks to us as if wave 1 up of
c-up finished Thursday afternoon. Friday's decline was likely most of wave 2
down, with three more waves left for c up of (E) up. This wave c-up of (E) up
could be a strong rally leg that sends prices up another 5 percent or so. We
recognized a new small Bullish Reverse Head & Shoulders bottom Wednesday in the
Industrials that is looking for a rally to at least the 10,200 to 10,300 area.
This could take a couple of weeks which is interesting as it places a top for
this rally around our next phi mate turn date and Fibonacci Cluster turn window.

There are large Bearish Divergences in volume, our 10 day average
advance/decline line indicator, and the MACD. These divergences are warning in
spades that a significant top is approaching. We present and discuss in detail
these divergences on pages 3 through 7 in this report at
www.technicalindicatorindex.com . As you will see, similar divergences were
present at the October 2007 top that led to a one and a half year plunge.

Both the Daily and Weekly Full Stochastics are overbought, and warning a top of
significance is approaching. The Dollar is bottoming and due for a bounce, which
fits with the expectation of a coming stock market decline, as money will likely
flow from stocks to dollars and Treasuries. Treasuries are bottoming, as shown
on the chart on page 54.

This weekend's report at www.technicalindicatorindex.com includes more analysis
of our coming phi mate turn date and Fibonacci turn window, which could point
toward the top for the rally from March 2009. We also present several Bearish
patterns that warn of a catastrophic plunge over the horizon, and present a
chart showing how the Bear Market unfolded during the Depression of the 1930s,
which could provide a blueprint for the current Bear Market.

The McClellan Oscillator fell to negative -49.90 Friday. The Summation Index
fell to positive + 4,518.38. The Demand Power/Supply Pressure indicators remain
on an enter long positions signal Friday, October 16th. NYSE New Highs fell to
203, with New Lows at 3. We believe markets are setting themselves up for
another series of Hindenburg Omens. Getting one would be a strong sell signal
and warning catastrophic wave (C ) down was dead ahead, or had started. If a
wave (C ) plunge occurs without a Hindenburg Omen, it will be an anomaly, the
first time that has occurred in the last 25 years.

The percent of DJIA stocks above their 30 day moving average rose to 90.00 from
86.67 in spite of Friday's decline, a bullish divergence suggesting more upside
is coming before the significant top arrives. The percent above 10 day fell to
73.33 from 86.67. The percent above 5 day fell to 60.00 from 86.67. The NYSE 10
day average Advance/Decline Line Indicator rose to positive + 644.8, a bullish
divergence against Friday's decline, remaining on a "buy" signal from October
8th, when it rose above the positive + 120.00 threshold for a new "buy."

Our three Blue Chip key trend-finder indicators (other than the Demand
Power/Supply Pressure Indicator) remain on a "buy" signal Friday.

The NASDAQ fell 14.04 points Friday, closing at 1,739.32. The Russell 2000 fell
7.16 points Friday, closing at 616.18. The HUI Amex Gold Bugs Index rose 1.67
points Friday, closing at 446.01. November Gold fell to 1050.7. Silver was flat
at 17.41, while December Oil rose to 79.02. The Dollar rose 0.12 to 75.62. Bonds
rose three quarters of a point to 119^17. The VIX fell 0.29 to 21.43.

Check out our October Specials, good through Sunday, October 18th, including a
fabulous 14 month offering, only $259, a little over $18 a month, or 2 years for
only $459 at www.technicalindicatorindex.com . If you are enjoying your
subscription, please tell a friend.

Best regards,

Robert McHugh, Ph.D.

Hello Norma,

Thank your very much for sharing this document, your thoughts and the time you
put into it.

regards.

Hello,

This email message is a notification to let you know that
a file has been uploaded to the Files area of the nwcciclub
group.

   File        : /Being ready to exit long-term Longs.doc
   Uploaded by : remember98045 <ejenner@...>
   Description : Being ready to exit long-term Longs

You can access this file at the URL:
http://groups.yahoo.com/group/nwcciclub/files/Being%20ready%20to%20exit%20long-t\
erm%20Longs.doc

To learn more about file sharing for your group, please visit:
http://help.yahoo.com/l/us/yahoo/groups/original/general.htmlfiles

Regards,

remember98045 <ejenner@...>

I put this post in Files because I couldn't get the charts to post right here

Norma

chart is in "Photos"  under General/Jobless recoveries

click on the chart to enlarge it

Norma

Sorry for the late notice!

We do have a meeting this Saturday (Sep 19) at the Bellevue Regional Library in
Room 3 - 10a to 1p.

See you there!

Bruce

Hello nwcci team & members,

This is my first little post here, but I am ears-dropping your fine group for a
while now.
I hope you dont mind.
I send you all warm greetings.

The "Tobin TAX" raised my attention:

This is potential dangerous.

I just want to say, that this was at topic at last weeks G20.

And while the spin to sell it in US seems to be  "tax high frequency oel
trading",
the current spin in Europe is: "Tobin Tax  to tax FX market"

This is a international effort - but I dont know how well coordinated.

yours,
makkie

I received email asking to review the points I was sending to Congress.  Two of
them are listed below in my initial letter.

You might also read Doug's background comments in his Tucker Report
http://tuckerreport.com/2009/02/19/should-traders-be-worried-about-hr-1068-trans\
action-tax/
http://tuckerreport.com/2009/02/21/how-to-track-hr-1068/  but rememebr this is a
new bill, so it is not the one listed in Doug's "how-to-track," but that ref
shows you how to go about contacting DeFazio and tracking bills.

The article from The Hill, by Alexander Bolton, contained a few untruths, and
contained no counterbalancing information or viewpoints.
Those are the things that I feel should be addressed in your letter.

For example, he states that small investors would hardly notice the tax. 
Perhaps this is true for buy-and-hold investors, but for small traders this type
of tax would put them immediately out of business.  This time around, DeFazio is
targeting the oil transactions, not all contracts, but rather than saying that
is a improvement over past bills, I'd say it's another example of encroachment,
and one that's full of untruths.

Thea Lee, policy director of the AFL-CIO, says that trading does not add to the
productive base of the U.S., and she wants to discourage day-trading.  This tax
is not on profits, but on the value of the whole contract, often making the tax
per trade higher than the profit many traders take.  Figure that out for the
contracts you trade.  It is a huge tax.  No small trader could continue with
futures trading with this tax on the full-value of his contracts.

Furthermore, the tax would not be paid by the Goldman Sachs of the world, but by
us traders, to the broker, to the feds.

The idea being spread, by DeFazio and by Lee, is that traders bring nothing to
the table.  They are ignorant that trading is like any other business, buying at
best price, selling at best price, and providing the market liquidity that
stabilizes prices, hence stabilizes markets.  I am convinced that both of these
people are simply ignorant, not malicious.  We must inform them before they
mis-inform the entire AFL-CIO membership with stuff that is totally untrue.

This type of bill would backfire with an implosion that might surprise even
DeFazio.  His intent seems to be to show his constituents that he is out to make
Wall St pay, but Wall St would not be paying.  We would, and we would quit
trading.  That might not be the end of the world for those who can go back to
work, but it is a death knell for those who have to trade because they are too
old or are disabled, or just want to control their own accounts.  And what tax
would DeFavio have for his highway projects if no one could pay the tax and quit
trading?  It is senseless.

A scary part of this bill is that it has 29 cosponsors. Congress as a whole has
already demonstrated an ignorance of the Constitution, ignorance of economics,
ignorance of money management, and ignorance of accountability.  That tells me
that Congress and the AFL-CIO are very much in need of your educational letters.

While you're at it, would it be going to far to recommend that all who run for
Congress be required to pass some basic tests on our Constitution, on the
difference between assets and liabilites, on accountability to the balance sheet
ahead of to constituents?

Hope this gives you some things to look at before you write your letter.  But
please hurry, as this encroachment is getting real old too fast.

Grrr.

Norma


--- In nwcciclub@yahoogroups.com, "remember98045" <ejenner@...> wrote:
>
> http://thehill.com/homenews/house/56789-afl-cio-dems-push-new-wall-street-tax
>
> Remember, DeFazio wants to tax the value of the whole contract, e.g. 50,000
gal of light sweet crude, not just your little profits.  And it ain't the
Goldmnan Sachs of the world who cough up for this tax money.
>
> If you would, write also to the AFL-CIO, as they have been swept into this
through malinformed ignorance.  Their support of this bill, and 29-cosponsors,
could kill small trading swiftly, with disastrous implosive consequences.
>
> ......unless you know something I don't...
>
> Here's a list of WA Senators and Congressmen
> http://www.visi.com/juan/congress/cgi-bin/newseek.cgi?site=ctc&state=wa
>
> Norma
>