Something scary that I heard today...

[sabra]

I work in the financial district in Downtown Chicago. I was in the elevator, when another person asked a stock trader how the market was looking. The trader replied, "it's dead, been dead for awhile now. There is just no volatility anymore. We just sit and wait." The other individual responded, "yeah, I hear you. You know what we need is a good tragedy, to mix things up."

He then looked at me for approval, but I didn't say a word. Freaked me out though...

[Ready4Change]

1. Tell him "Be careful what you ask for."

Looks like you were sharing an elevator with a pair of tragedies, imo.

[Obamarama]

2. Financial district, downtown Chicago?

Hey...can you do me a favor? Go to Heaven on Seven over on Wabash and have an Oyster Po'Boy sandwich, for me, okay? I've been craving one of those for sooooooo loooooong!

[RPM]

4. hell yeah

thats some good shit!!!

[oldtime dfl_er]

9. hahah!!!!!

I'll buy stock in that!

http://www.cafepress.com/scarebaby.24202078

[sabra]

11. How about I fedex one to you?

Should still be fresh when it makes it to it's destination? :-)

[Obamarama]

16. Cool....also send one of those "two egg" skillet breakfasts.....

from Lou Mitchell's over on Jackson. Don't forget the prune, the orange slice and the marmalade. Hold the soft-serve ice cream...I think it may not survive the journey.

Oh yeah...if possible, also swing by Ann Sather's up on Belmont and sequester a large number of cinnamon rolls.

I can see I'm going to need to make a gastronomical trip into Chitown pretty damned soon!

[nadinbrzezinski]

3. well they need an influx of money

it is not scary, it is a fact, they need something to happen... what these boys don't realize is... them conditions are very close to oh 1929

[Double T]

5. Another 'Show Me The Money' That's All That Matters Sick Bastard!!!!

[unblock]

6. the market has been uncharacteristically sideways for a LONG time

really has been no excitement for years now, not since it retreated from the clinton highs into the shrub trading range, usually in the 10,000-10,800 or so range, with occasional dips toward 9,000 or so.

a far cry from the clinton explosion.

of course, chicago traders should know they can make money in any market, but to make money on no volatility, you have to bet that prices WON'T change much, so you have to short calls and puts, which is high risk, low reward, unless you cover with long calss and long puts at different spreads (known as a "butterfly"), which lowers the risk but also lowers the reward.

much easier to make money when there's volatility, when all you have to do is catch a wave and you're surfing on top of the world....

[Pockets]

7. If trading stock doesn't work out for them

heaven forbid, they might have to change professions and work for a living. :sarcasm:

[sabra]

8. ooo, low blow :-)

[Pockets]

12. I might be exposing my ignorance...

I'm not experienced with trading stock, maybe I'm just a little jealous, but it just never seemed like the most ethical way of making money.

I used to have this naive view that people should invest in companies they believe in and stick with them trough the long haul.

[unblock]

18. i disagree

i will certainly agree that it's POSSIBLE to make money unethically via stock trading, but then again, it's also possible to make money unethically at just about anything.

trading, if done ethically, doesn't take advantage of any nonpublic information. it involves doing your homework, finding under- or over-priced investments, putting your money at risk based on your due diligence, and earning a profit over time in exchange for keeping investments properly priced for all.

done ethically, it helps people have confidence that, when such-and-so stock price is trading at $30/share, that that is a fair and reasonable price, and spares everyone else from having to do the same level of due diligence.

[damntexdem]

10. What? Having the Bushistas in power ...

isn't tragedy enough for him?

[CoffeeCat]

13. I'm no Bob Brinker, but...

...wouldn't a "good tragedy" negatively affect the markets?

Sabra--when you heard "good tragedy" did you interpret this to mean a terrorist attack? Or maybe an economic tragedy--such as the dollar tanking or the housing bubble bursting?

[newportdadde]

15. If they are short the market then a tragedy could

make them a lot of money. If you had a whole bunch of outstanding airline PUTS you aquired pre 9/11 you would have made a killing.

[sabra]

17. btw, I work at the exchange where that occurred...

maybe that's why the statement freaked me out more?

[sabra]

14. Looks like we got our tragedy! Jackson verdict in 40 minutes...

[KharmaTrain]

19. Welcome To Stagflation

People are just noticing this now? The investment market has been flat for some time. Anything really high growth is outside the country or has some military application attached to it. Angel investing that fueled the tech boom in the 90's is shot and those with money are just grateful not to be losing on their portfolios right now. Yep, interest rates are flat or not rising fast enough to make bonds a hot commodity and stocks have lost value not gained over the past 18 months. So what's to be excited about? Time to find a good mattress.

I'm curious if this was a commodities trader. I know it's been a cold, dry spring in the Midwest and fields that are usually starting to turn green now are still barren. I imagine this will play out later this summer and that will be good for the day traders, but another big hole in our pocket books.

Cheers from Chicago

[ArkDem]

20. Bulls make money

Bears make money
Pigs get slaughtered

[Julius Civitatus]

21. I suggest you watch the movie "THE CORPORATION"

One of the best docummentaries I've ever seen. It will make you understand the attitude of that stock broker.

Basically most US corporations behave like agotistical psychopaths, and the movie explains why, point by point:

http://www.thecorporation.com/

[bicentennial_baby]

22. I was just going to suggest that

The broker that they interviewed about 9/11 was absolutely frightening, and revolting