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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Beach

Beach

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Tuesday, October 25, 2011

Weakness at MF Global...one to watch...

I heard today that MF Global has gone long on Europe peripheral debt...this is a Monthly chart of their stock:


The Daily chart below shows that the stock closed today just fractions of a point above its all-time lowest close on November 20, 2008:


Also, here is a link to a write-up about them on Bloomberg: http://mobile.bloomberg.com/news/2011-10-24/mf-global-may-be-lowered-to- junk-by-moody-s-as-corzine-adds-trading-risk?category=%2F

Their long trade looks like a big last-ditch gamble...I'll be watching their stock in the days/weeks ahead as it could portend what's coming down the pike in Europe.

P.S. October 31, 2011 -- MF Global filed for Chapter 11 Bankruptcy (based on its disclosed assets as of September 30th, it is likely to be added to the list of the 10 largest bankruptcies in U.S. corporate history, slotting in just ahead of Chrysler as #8) -- JP Morgan & Deutsche Bank are listed in the court filing as among MF Global's largest unsecured creditors (trading halted today).