Cody Underground: The podcast takes off (and comments about the markets’ crash today)
I recorded this at 2pm EST, and my upload speed from my barnhouse and my office outside my barnhouse here in Alto, NM was running at 150 kbps and the file wasn’t uploading. Apparently, TradingWithCody.com has also been bogged down today with capacity issues as we’ve had a spike in traffic of late.
At any rate, the markets were absolutely trashed today and the momentum stocks were crashed as traders headed for safety. This isn’t a new trend, and I hope, like me, you’ve been preparing for this. I didn’t make any moves today and I do plan on bidding for more Yandex calls on Monday. Steady as she goes.
Topics from today’s show.
1. This episode goes out to my daughter’s 96 year old great grandpa. Banking today vs when he did it. He still owns WFC tho and it’s made him a ton of money in stock gains and in dividends over the last few decades.
2. Big sell off in high beta stocks today. But markets are still at all time highs. Jobs report. Discussed.
3. High frequency trading. What it is, why it’s taking money out of your pocket. What if retail investors figured out a way to front run a bank’s trades?
4. Blankfein and other Goldman pay in a time when the Fed continues “emergency extraordinary measures designed to help banks manage the crisis” hits a cool $20 million.
5. Obamacare. First remember it’s 100% based upon the “successful” model that is known in Massachusetts. Is the only number that matters is how many people sign up for it? What about quality of care, access to good care, etc? And, is Obamacare going to crush the US economy?
5. Song of the day is “Dance, dance, dance” by The Steve Miller Band. Listen to the opening line and you’ll see why I chose it for today’s Johnson Stearns episode of Cody Underground.
See you dear TradingWithCody.com subscribers over the weekend with a Latest Positions update.
