Tue 24 Jul 2007
Do You Know Where Your Stock Certificates Are Tonight?
Posted by RichSlick under Financial Safety
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Bloomberg recently published threshold securities table which shows ETFs, Stocks and Funds that show outstanding unsettled stock trades in which “stocks for which sellers failed to deliver 10,000 shares or more in the past five trading days and the level of “fails” is a minimum of 0.5 percent of the shares outstanding” over here.
So who were the biggest offenders?
IIG and IOC came in at the top of the list with over 200 days of unsettled stock trades of 10,000 shares or more.
I was surprised to see these ETFs on the list though: EEB; XLF; XOP; UNG; USO to name a few although some only had a few days of outstanding unsettled shares.
I’m 100% cash right now and I think I’m going to stay that way for a while. My spidey sense is tingling and it’s warning me to stay away from markets right now. The talk and prospect of $100/oil, war with Iran, USD in the dumps, and Bear Sterns/Sub Prime mortgage fiasco are all warning bells going off that we may be headed for rough seas ahead.
July 24th, 2007 at 11:05 am
If you are expecting $100 oil and war with Iran why not invest in USO, Halliburton, and Lockheed Martin?
Diversifying in uncertain times includes times of war or high commodity prices. I bet your 100% cash would not look good if we started to see hyperinflation.
July 24th, 2007 at 2:36 pm
I wrote that post last night and today the Dow dropped nearly 300 points. Go figure…..
Cash was a good move…..
July 26th, 2007 at 12:04 pm
I bet you’re happy to be all in cash right now….
July 26th, 2007 at 3:39 pm
Yeah….I saw this coming from a mile away. The news kept getting worse and worse but the Dow kept climbing to 14k, it HAD to go down. The thing was defying any logic…
I would have bought DXD to make money on the downturn like I’ve done before except I had business travel this week and couldn’t keep an eye on the market and couldn’t execute any trades so I opted for a pure cash play.
No travel next week so I might make a move based on what the ETF-Cashinator shows me tomorrow!