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Cesarnc's market talk, gossips, rumours & fun

  • #3,761
  • Jan 24, 2008 9:44am Jan 24, 2008 9:44am
NY is a Chop Shop today. No direction.
  • #3,762
  • Jan 24, 2008 9:46am Jan 24, 2008 9:46am
Quoting SunTrader
Finally France is No.1 in something besides quickest to wave the white flag:

Mr Kerviel, who worked in the bank’s Delta One products team in Paris, was responsible for what looks set to go on record as the largest financial fraud of all time, masking huge positions he’d built in equity derivatives, which resulted in a loss of €5bn announced by SocGen on Thursday morning.

SocGen’s Delta One business includes programme trading, ETFs, swaps, index and quantitative trading.

Masking a EUR 5billion operation? Nobody saw it?

Kerviel http://i2.photobucket.com/albums/y28...miley_rock.gif

I'll think twice before pissing this guy off
  • #3,763
  • Jan 24, 2008 9:47am Jan 24, 2008 9:47am
Quoting SunTrader
NY is a Chop Shop today. No direction.
Struggling with the .38 fib retracement....
  • #3,764
  • Jan 24, 2008 9:53am Jan 24, 2008 9:53am
Cesarnc:

You think 1.5 on the EUR today?
  • #3,765
  • Jan 24, 2008 9:55am Jan 24, 2008 9:55am
Dow looks like it is going to fall... Short UJ
  • #3,766
  • Jan 24, 2008 9:56am Jan 24, 2008 9:56am
Quoting Sidus
Struggling with the .38 fib retracement....
From 12/26/07 high ?
  • #3,767
  • Jan 24, 2008 9:59am Jan 24, 2008 9:59am
Quoting forexluvr
Cesarnc:

You think 1.5 on the EUR today?
Dear Lord no!!!

Please, don't jump in any trade unless you know what YOU're doing, ok?
  • #3,768
  • Jan 24, 2008 10:00am Jan 24, 2008 10:00am
Quoting SunTrader
From 12/26/07 high ?
yup
  • #3,769
  • Jan 24, 2008 10:00am Jan 24, 2008 10:00am
Congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy.

And the stock market erasing earlier gains... Wierd...
  • #3,770
  • Jan 24, 2008 10:03am Jan 24, 2008 10:03am
Quoting cesarnc
Congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy.

And the stock market erasing earlier gains... Wierd...
Go with the flow man!
  • #3,771
  • Jan 24, 2008 10:08am Jan 24, 2008 10:08am
Quoting cesarnc
Masking a EUR 5billion operation? Nobody saw it?

Kerviel http://i2.photobucket.com/albums/y28...miley_rock.gif

I'll think twice before pissing this guy off
The guy worked in the back office for a couple of years before trading.

I guess he knew about the shortcomings of their operation and used that info to hide his losses.

Monday would have been a real sphincter challenging day for the poor guy trying to get them out of the phoo - the Dax and CAC were in free fall from their open and gapped down on Tuesdays open - I bet he needed that executive loo seat! http://www.forexfactory.com/images/icons/icon11.gif
Trading Levels with WRBs
  • #3,772
  • Jan 24, 2008 10:14am Jan 24, 2008 10:14am
Quoting cesarnc
Congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy.

And the stock market erasing earlier gains... Wierd...
Jolt will last all of a New York minute. Then back to
  • #3,773
  • Jan 24, 2008 10:20am Jan 24, 2008 10:20am
Quoting Islander
Monday would have been a real sphincter challenging day for the poor guy
To say the least...
  • #3,774
  • Jan 24, 2008 10:32am Jan 24, 2008 10:32am
From wikipedia:

Kerviel joined the bank in the summer of 2000, first working in back and middle office, where he learned how to hide these massive positions.
His employers discovered these positions on Jan 19, and their unwinding of these positions caused a large drop in equity indices on January 21 and 22.
  • #3,775
  • Jan 24, 2008 10:37am Jan 24, 2008 10:37am
Quoting Sidus
From wikipedia:

Kerviel joined the bank in the summer of 2000, first working in back and middle office, where he learned how to hide these massive positions.
His employers discovered these positions on Jan 19, and their unwinding of these positions caused a large drop in equity indices on January 21 and 22.


Everybody looking at the US recession and it was just those guys house cleaning
  • #3,776
  • Jan 24, 2008 10:37am Jan 24, 2008 10:37am
Quoting cesarnc
I want to be the first to call it today.

Hello EUR 1.5

http://www.clipartof.com/images/emot...all2/2296_.gif http://www.clipartof.com/images/emot...ying_music.gif http://www.clipartof.com/images/emot...mug_cheers.gif http://www.clipartof.com/images/emot...ng_cocaine.gif

LET'S GET THIS PARTY STARTED........

HOLLA
  • #3,777
  • Jan 24, 2008 10:38am Jan 24, 2008 10:38am
Quoting cesarnc


Everybody looking at the US recession and it was just those guys house cleaning
The SG positions were worth over 50 billion......
  • #3,778
  • Jan 24, 2008 10:39am Jan 24, 2008 10:39am
Kerviel - another Frenchman running and hiding. :

Bush should put him in charge of distributing stimulus package.
  • #3,779
  • Jan 24, 2008 10:40am Jan 24, 2008 10:40am
USD/JPY go to 110, after 112 i think ..
EUR, can go UP , but BCE will cut rates too...i think after drop...and much..

what you think about?

Best Regards,
Marcelo Marques
  • #3,780
  • Jan 24, 2008 10:43am Jan 24, 2008 10:43am
This will get the think tanks brains spinning, finding a way to make sure this never happens again.
"Millionaires don't use astrology, billionaires do"
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