Friday, 25 May 2012

Where can Canadians find a broker


As for brokers for Canadians, the most honest and stable brokers in the world are the Canadian major banks
TD waterhouse  http://www.tdwaterhouse.ca (better platform than the two below)
BMO investorline https://www.bmoinvestorline.com/ (well run good service)
Scotia iTrade  http://scotiaitrade.scotiabank.com/itrade  (cheep – limited abaility)

However that said, Canadian brokers are not great for day trading, they don’t do futures, very limited ability to short stocks or buy US options and no real currency trading.

Some safe US brokers do take Canadian accounts:
If you want to trade Options and Futures with a very small account look into "TD Think or Swim" https://www.thinkorswim.com/tos/client/index.jsp also I love the interface, what great charts and analytics. ToS option decay graphs are the best in the world, they can track Theta burn better than you can on a Bloomberg terminal.
If you have a major account and trade size frequently like I do, you can use Interactive Brokers -- but they don't do accounts under $100,000. http://www.interactivebrokers.ca/en/main.php   or  http://youtu.be/ChKIecFPL8A

Why do I love Interactive Brokers?
-        Lightning fast execution with smart routing, my fills are way faster than any other broker can get me.
-        Crazy cool order types, like MOC, vwap, iceberg and one cancels all.
-        Flexible instruments, stocks, futures options bonds currency all from one account.
-        No front running my market orders. All Canadian banks do this, penny here a penny there.

Why I don’t like IB
-        Support stinks, it is like they really hate their customers
-        No phone orders, if you have no internet you cannot cancel a trade, too bad you just lost your account while you were in a storm.
-        The front end blows. IB graphs look like a high school kid wrote it in his basement. Use Tradestation or Ninjatrader as your front end. 

Saturday, 19 May 2012

It is not Greece its China


Is it really news that Greece is an economic basket case? No nothing new there.
But the real story is that commodities are falling like a stone. Even Gold is less attractive these days.

I turned more Bearish on May 2, when the price of oil dropped, I was expecting some stocks to sell off
but I was not expecting oil to sell off. So I began to nibble on HDGE, SH & HIX -- Inverse ETFs.

Notice how commodities did not rebound in 2012 like the market did. You could think people were just moving from commodities into equities
but now the market is in retreat commodities are falling further.



Of course the cause is demand, not from Europe but from China.

I began to think of this when a realtor from Vancouver said they have not seen a buyer from China for months
http://www.theglobeandmail.com/report-on-business/economy/housing/vancouvers-real-estate-swoon-deepens/article2433053/

Here are some talking heads talking about China,
http://video.cnbc.com/gallery/?video=3000091090&startTime=0&endTime=309

The Chinese inflate their numbers. Chinese GDP is about as reliable as US inflation figures.
Here is a great video I beg you please watch it -- well worth the 14min it runs and probably the most important vidoe about your future you will see this year:
http://youtu.be/SIzbMT2NVDA

so even the 6% growth they talk of is mostly based on bad projects and political needs
http://money.cnn.com/2012/05/02/markets/chanos-china-bear/index.htm
If growth is so good in China why are their banks treading water?
http://www.economist.com/node/21554234

and this just in . . .
http://www.cnbc.com/id/47573095

Even worse . . .
http://www.nytimes.com/2012/06/23/business/global/chinese-data-said-to-be-manipulated-understating-its-slowdown.html?pagewanted=all

http://www.businessweek.com/videos/2012-07-19/7-18-keith-bradsher-of-ny-times-on-china