MaoXian.com -- Archive > August 13, 2004

Have a good weekend, guys.

Posted at 18:34, GMT

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C-SPAN Writes Last Chapter Of 'Booknotes', by Tommy Nguyen:

"[The show] will be pulled Dec. 5, when 'Booknotes' celebrates its 800th author interview."

That's sad and unnecessary. I've praised Booknotes and made fun of Lamb's often idiotic, er, "idiosyncratic" questions here. Why not find another host?!? Thank god the Archive will remain in place.

Posted at 14:05, GMT

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IDCC coiled even tighter yesterday. You have to love it when this kind of range contraction happens day after day after day (it's fairly rare). Keep a very close eye on this one.

IDCC, 15-minute Chart

Posted at 10:56, GMT

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Checking up on the popularly traded Semiconductor HOLDR (SMH)... You can see that after the trend-followers got short in May, they had to suffer "losses" for over two months before price broke below their entry. Trend-following requires enormous patience. (Deep pockets don't hurt either.)

SMH, Weekly Chart

Posted at 9:53, GMT

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Does the awarding of these patents ("Click based trading with intuitive grid display of market depth") to TT mean I will eventually have to stop using my precious BookTrader?

Posted at 9:15, GMT

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CBOT details plan to take on Nymex, by Jeremy Grant:

"The plan, reported first by the Financial Times in May, is another sign that US derivatives exchanges are starting to compete against each other in the same products amid rapid developments in electronic trading and as global exchange competition for fund flows intensifies ... Nymex launched gold futures in 1974 and silver in the 1960s. It merged with Comex in 1994 and the combined entity is the world's largest silver and gold futures exchange, handling about 95 per cent of volume...."

Posted at 9:03, GMT

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Behavioral Finance Research Library. A treasure trove of articles from academics.

Posted at 8:56, GMT

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Kerry for President? by Doug Casey (this one is a corker, don't miss it.)

Posted at 8:43, GMT

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Instinet Group Announces July 2004 Transaction Information

"In July 2004, INET's total matched average daily U.S. equity share volume was 549 million shares, or 14.8% of the U.S. equity market. This volume consisted of 473 million shares of NASDAQ-listed stocks, or a 27.3% share of the NASDAQ-listed market, and 76 million shares of U.S. exchange-listed stocks, or 3.8% of the U.S. exchange-listed market."

Posted at 8:29, GMT

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Now we know that New Jersey taxpayers weren't the only ones getting screwed by the $110,000-a-year "counselor to the governor."

Posted at 8:09, GMT

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Former Hedge Fund Executive Pleads Guilty:

"Strafaci admitted at a hearing in Manhattan federal court that he fraudulently overvalued securities in two Lipper Convertible funds ... Lipper Holdings later had to report to its investors that its Lipper Convertible Fund was worth only $365 million, rather than the $722 million it had reported ... When Strafaci was charged in October 2003, his lawyer said prosecutors had simply ignored how difficult it is to assign prices to derivative securities...."

Posted at 7:51, GMT

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