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Possible Warning re: financial downslide?
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[quote:Anonymous Coward 952140:MV8xMTA1ODUyXzE3NjU3MjMwXzYxODAyMjFF] So in other words easy credit (so to speak) which precipitated the credit crisis we currently find ourselves in, is now being extended to traders? [/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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