31 Replies to “Wednesday Trading”

  1. Kate, you in Europe?
    It’s 7:24 PM as I write this in Pacific, which would make the hour 10 PM Eastern.
    Oh and best of luck. “Gotcha politics” a la Pupatello requires a big, happy team and a strong, strong leader ready to take some hard hits. I know from painful experience.

  2. Sometimes I do posts in draft form, and I have to change the timestamps when posted, or they show up way down the page. I’m in a different time zone than the server as it is, so it really doesn’t matter enough to me to get up and check the time.

  8. There was buzz all over the place that Goodale wasn’t going to tax income trusts and cut the dividend tax. In fact that’s been the speculation for months. All you’re seeing is investor speculation at work. I can show you thousands of examples of the same thing happening all the time.

  9. BCE had a jump of over 4% in less than an HOUR its biggest ONE DAY move in over a year – hardly “…thousands of examples of the same thing happening all the time.”
    We are talking billions of dollars here being made/lost in nanoseconds. Adscam has nothing on this. I bet some of the money makes it back to the LP.

  10. Robert:
    Wow. A post from you that didn’t involve a curse word. You must be turning over a new leaf.
    There was buzz all over the place that Goodale wasn’t going to tax income trusts
    There is a difference between BUZZ and knowing the timing of the announcement. Goodale stated today that he made the announcement public knowledge on Tuesday. I want to know where he made that announcement because it appears as though only a select number of institutional investors took advantage of this “public” announcement. I want to see the news release or the statement to the press.

  11. Robert, when will you be providing examples? Looking forward to seeing them, what you are suggesting is insider trading is rampant in Canada, and you have no problem with it.

  13. Robert,
    It may surprise you to learn that YOUR OWN PARTY is concerned about this, MP Wayschelisa Leis (I may have spelled that wrong), blew a gasket on it earlier in the week. If the Liberals did leak it, and people took advantage of that knowledge, then heads should roll.

  15. Don’t you understand everybody? The Liberals love Canada. Nothing else matters – all you need is love.

  16. “There was buzz all over the place that Goodale wasn’t going to tax income trusts and cut the dividend tax. In fact that’s been the speculation for months. All you’re seeing is investor speculation at work. I can show you thousands of examples of the same thing happening all the time”.
    The usual hyperbole from the left’s most disreputable gas-bag. Even assuming if there was speculation that (contrary to the repeatedly demonstrated pathology of liberals over 12 tortuous years) a tax cut for corporations was in the offing (yeah, the libs really want to be seen giving a tax cut to “evil corporations”) , it is the certainty that inside information and the knowledge that a announcement is to be made whihc will move the market and that therefore allows you to profit – under these circumstances, an insider would certainly be able to trade on the information and knows that all the other traders will react to this shift in earnings and values. That’s what earns you the money.
    Noone speculates on information for long, RObert – they end up transferring their wealth to others who do a little research and don’t treat the exchanages like a Vegas craps table.
    Are you so obtuse as to doubt that fatcat liberal insiders and their tipees know a grant of tax benefits to certain business organizations is going to alter the value of those organizations (as it changes their after tax earnings) – that’s the capitalization effect, chimp.
    Slip back into the ether RObert, perhaps a dream about a furtive encounter with Chavez and Stalin awaits, you’ll feel better later. Read the tatterred RedBook for comfort. As per usual, you have nothing of vlaue to add to the debate. Life passes free of your influence, all is right in the world.
    By the way, the grant of these tax benfits was nothing but a hamfisted attempt to inflate stock values after loose-cannon Ralphie’s dept. knocked billion in value out of the market by ill-advised musings.
    Pretty damning when you add that ineptitude to the overwhelming evidence of insider trading.
    RUn away and hide now, the truth is about and you definitely cannot handle it – these are crass mercantile matters, nothing layabout leftie could ever know about – better stick to your “feelings”.

  17. I am trying to figure out if Robert is an apologist, Communist, mental midget, or all of the above.
    I think you should move out of your mother�s basement before it is too late!

  18. I hope someone is also reviewing orders placed by ‘short sellers’ prior to the initial September announcement regarding the likelihood of interference with Trusts; if there was advance notice at one end of this affair the chances are high that it also happened at the other end.

  20. Long after the election I expect this smear, a scraping of the barrel for sure, will be attributed to Stephen the Unready and Jason the Rag Picker. It is strange how consistently people like these just can’t seem to stop themselves from doing this sort of thing even though it not only fails to pay off but also it almost invariably comes back to injure the party that launched it. I wonder what Income Trust beloved of the Aspers, for example, will benefit from the tax avoided, and does the same group fund the people who are responsible for floating this undoubted cheap shot?
    Will we now hear that there is some fault in Goodale for landing a big increase in aid to (big) farmers in the Prairies.
    Maybe the Aspers will be called to account for failing to run any reasonable coverage of the bill on telemarketing that will work to guarantee their interests can continue to be served as before.
    It does occur to this general reader that Canadians might learn a lot more about the true attitudes of those who would serve as their political masters, and those that are THEIR masters, by investigation of the Asper family depradations in Canadian media and society, than by ruminations on whether Harper has been influenced by the notorious gas bag and stooge for the 18th Century British landlords, Edmund Burke.
    It seems to be generally accepted that Goodale is one of the solid and reliable personalities in the Liberal front ranks, so I expect he will not be injured in the end. But Harper is injured now, and one could easily recognize his discomfort, or so it seemed, when he was first asked to comment on the smear on TV. The Rag Picker was not troubled, but then it seems no one ever pays much attention to anything he says. And now that Harper, true to form, has pissed into the wind with his lamentable reference to the Liberals and “organized crime”, not even the Asper flood of tame and favourable press attention can save him.
    Oh well, there is work for Harper afterward, such as comparing Burke’s” Reflections” with the white hot rivets of Tom Paine’s Rights of Man. And there is work for the Aspers who can then turn their full attention to serving up Israeli propaganda.
    But how shall the rest of us make out with another minority government. Will a patched up Liberal government rely once more on the NDP, and will the NDP thereby save us from the hazard of healthcare privatisation. Will anyone save us from the breach in the dam caused by the evil old judges, or the rending of our health care institutions now being attempted by private vultures. That seems to be the big number for the next three years or so.

  21. I just feel sorry for the poor saps who bought in Thursday on the “news”. Look at the downward pressure. The insiders were obviously happy with their $2-$3 gain in 2 hours and dumped everything they bought the day before.

  22. Follow the money, it’s as simple as that.
    Oh yeah, after the money is “followed”, let’s follow the rolling Liberal heads!

  23. Eskimo, that would take an investigation by the OSC and the RCMP, and one could argue, that would require a good deal of independence, which automatically precludes any chance of an in-depth investigation, at least for the RCMP. I suspect, though, that the Libs have more than enough clout on Bay Street to shut down any inquiry. On a similar topic, Tom Caldwell, an investment analyst highly regarded on Bay Street, was interviewed by CTV’s Dan Matheson the other day. Asked about Libs’ prospects given the strong economy, Caldwell laughed and said if it weren’t for the GST, a Tory-made policy and much hated, the Libs and the economy would be in real trouble. It pretty effectively flummoxed Matheson because this guy was not buying into good fiscal management on the part of the Liberals.

  24. If something this blatant happened in the US, I would be able to see the White House burning from where I’m sitting now; these thieves and liars have put themselves above the law for so long, they’re beginning to believe it themselves.

  25. robo makes an excellent point about “short sellers” activities just before “Honest Ralph” announced that he was going to have a look at Income Trusts. If it smells rotten it probably is.

  26. Iron Lady: Paul Martin isn’t fit to shovel $hit from the stables of the RCMP musical ride horses.
    It should send a shiver down the spine of every Canadian that the RCMP has been essentially “bought” (read: paid off) by the LPC.
    Sure sign of a banana republic when it’s police force can only investigate matters that the dictatorship allows/directs them.
    Tainted blood anyone? Only if the CPC takes the helm, will we see this brought to light. (PS. keep an eye out for the independant reporter doing a documentary on the so calleed “blood trail”. You’ll have to dig deep as I’m sure CBC/CTV won’t give it the time of day)

  27. Very reminicent of PetroCanada buyout of PetroFina. Liberal insiders knew about the takeover before it was to happen and made millions. Rumour is that some of this money is still around in trusts to pay to Liberals when necessary.

  28. I’ll take 10,000 shares of SDA futures please.
    This is insider trading thing interesting but now with an election going on there isn’t any time for investigative reporting by the MSM. After all, there are all those stupid loaded questions to ask the CPC in order to play into Martin’s speach writer’s schedule.
    My condolences to those with a brain that will have to listen to 55 more days of cow pie slinging.

  29. As much as I would love to see justice done in the matter of the insider trading of the trust funds, I’m afraid we can forget about it. No one is charged in Canada for white collar crime and certainly not a Liberal. No one is charged, no one is accountable, no one is incarcerated, no one is sanctioned in any way, shape or form in Canada for these types of activities. The plethora of scams inflicted on us over the past 10 years is ample evidence of the facts.
    Justice will be done with Conrad Black but isn’t it so Canadian that the Americans will have to do it for us. Our country has become morally bankrupt and I doubt it can be salvaged.

  30. “There was buzz all over the place that Goodale wasn’t going to tax income trusts and cut the dividend tax. In fact that’s been the speculation for months. All you’re seeing is investor speculation at work. I can show you thousands of examples of the same thing happening all the time.
    Posted by Robert McClelland at November 29, 2005 11:42 PM ”
    If this was just speculation you would have seen a steady build in volume over days or weeks not a 2 hour window before the announcement.

  31. garhane: You all could use a little Ed Burke, much less some Tom Paine. Either one is a little too “scary” for yer average Canadian. Anyway, at which lefty Canadian U. did you get the idea that Edmund Burke was “the notorious gas bag and stooge for the 18th Century British landlords”? Just ’cause he was horrified by the French revolution? That’s like saying any given Canadian who’s revolted by all these scandals and whatnot is a “stooge for Harper and the Tories”, when for all you know he might be a civil libertarian or a separatist of some stripe or other, or . . . whatever. Get with it man – Marxist interpretation is *so* last-century.

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