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Possible Warning re: financial downslide?
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[quote:Financial Trader 1008701:MV8xMTA1ODUyXzE3NjU3MDY3XzgxMTc5Nzk2] Don't give advice, but I would remain cautious holding any paper positions overnight over this whole summer. As everyone knows (or should know), the stock market is a giant scam and all signs point to it getting taken apart soon. Remember, I am a TRADER, not INVESTOR. BIG difference, my investment is in RE and gold, my play money is traded. Take it for what its worth. [/quote]
Original Message
I have been a successful trader for over 20 years.
This week, I received notification from two major brokerage houses that I do business with noting the following:
"Margin requirements will be reduced from $25k to $5k effective June 23, 2010"
As a trader, reducing margin requirements sends MAJOR ALARMING BELLS.
My take: a MAJOR slide is coming ... SOON!
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