The SEC has charges 7 golfers at a Country Club with Insider trading on nonpublic information heard on the golf course. The total ill gotten gain of the 7 men is $554K. The fine is over double the gain. To me it seemd like over reach because the SEC is too sorry to get the big boys.
Washington D.C., July 11, 2014 — The Securities and Exchange Commission today charged a group of friends, most of them golfing buddies, who made more than $554,000 of illegal profits from trading on inside information about Massachusetts-based American Superconductor Corporation.
In a complaint filed in federal court in Boston, the SEC alleges that Eric McPhail repeatedly provided non-public information about American Superconductor to six others, most fellow competitive amateur golfers. McPhail’s source was an American Superconductor executive who belonged to the same country club as McPhail and was a close friend. According to the complaint, from July 2009 through April 2011, the executive told McPhail about American Superconducter’s expected earnings, contracts, and other major pending corporate developments, trusting that McPhail would keep the information confidential."
Marionpolk with your 18 minute 5 post history and ZERO credibility you ask many questions. Your choice is to cover, buy, sell or just sit back and watch.
Mkanxs, IMO CFP is a good trade but a not so good hold. If purchased at inception in 2007 the holder would have averaged less than 1% annual return! the trader averaged about 23% annual return. If you buy sell well before the RO late in the year.Phil
Active Trader Pro.
Top Header select "trades and orders"
Pick "directed trades and extended hours"
Fill in the trade format but hit "route" and select VWAP
I was told its designed for Market orders but i plan to try with limit orders to put a floor/ceiling on the trade. or someone busy working they can count on a fill at the market average for that day.
Do you use VWAP (Volume Weighted Assisted Price) in any trades? I just learned about it and it looks like Fidelity is the only Broker offering VWAP without broker assistance. It seems to only be available for a PC trade with the Fidelity Active Trader Pro platform. The idea is you get the average price for the day and the trade does not show on the book. It might come in handy to buy or sell a large numbers of low price shares of low volume securities without moving the price. I have started to play with it to see how it works. Phil
Tono, NRP is the only MLP with Positive UTBI in my investment history. Fidelity Investments say they don't report UTBI but some others do. The IRS has not issued directives concerning MLP in a IRA but are hot on the trail of so called charities making undeclared income on the side. I have never known or heard of a person paying UBTI tax on a MLP in a IRA, if you did you are the first. But I do shy away from heavy positive UBTI MLP just in case. Phil
I recommend sending in the ES as you get the income sometimes more often that the four quarters. When you under withhold the IRS looks at last years return to see if you constantly under with hold. So if I under withhold a year I make sure to over withhold a bit the next to avoid penalties .
Fed to end Bond buying in October, maybe if ......... Market went on, but i sold my only two positions of CFP and ETV for 1% and 2% gains to sit back and watch. Rather bank a gain than take a chance. Very little market reaction, so far anyway. Phil