So in stock twits.. someone made a comment that i though was pretty funny. It may have been cause i was bored, but i simply couldn't stop laughing...

Someone came in and said they're shorted the market... When I asked why..

"The MACD in the yearly month chart is pointing down, meaning we're in a recession"...

Really, is that the official defenition..

CNN headlines.... Ben Bernake todays commented that further quantative easing is necassary since he's MACD turned down...


Thought that was funny

One day after the close, a trader named Steve was sitting on the steps of the Bond pit visibly distraught after his clerk had just finished figuring his P&L for the day, subsequently informing him that he had dropped $2,000,000.

Another trader, Charlie D, walks by and asks Steve's clerk what was wrong with Steve, and was told about the hit Steve took. Part befuddled, part disgusted that Steve would be that upset for dropping "only" $2MM, Charlie remarked, " Shit, I thought Steve could handle dropping 2MM, better than that!," and then walked away.

I'm not quite sure if if that excerpt is funny; perhaps it's more ironic, but I will never forget it. It underscored how the pit was a virtual microcosm of the financial world, highlighting the vast disparity between the very large traders and the relatively smaller traders.

"Money is lying on the street, you just have to pick it up.
But be aware that nobody comes up behind you while you are bending down!"