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Actively trading the markets is extremely stressful and oftentimes, traders–even those with years of experience–make irrational decisions as a result of this stress. Wall Street Rock Stars are on the top of their game though, banking mad profits every day. On WallStreetRockStar.com you will find REAL information and real trading ideas for and from REAL Wall Street Rock Stars. - Mark Whistler

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Forex and Stock Market News via WallStreetRockStar.com

Tobin Tax Could Restore Yen

While the Yen's 30% rise in 2008 is no mystery (a result of the unwinding of carry trades), its performance nonetheless defies economic fundamentals. Exports have fallen and industrial production has collapsed, such that recession now appears inevitable. Japan is not alone in this regard, as a number of economies have suffered unnecessarily as a result of excessive volatility in currency markets. The solution could be the so-called "Tobin tax," which aims to limit forex speculation by levying a nominal tax on short-term currency trades. The proceeds from such a tax would be used to restore some equilibrium in forex markets by providing Central Banks with funds for direct intervention. While the tax itself has never been implemented, countries have previously taken to cooperating on forex matters for the sake of global macroeconomic stability. Seeking Alpha reports:Exchange rates have to be within a certain range for all economies to prosper. The major economies have to work together to ensure this. If the Group of Five could work together to depreciate the "Super Dollar" in 1985, so the major nations today can and should work together to stem the surge of the super Yen.Read More: Japanese Yen: An Excessively Strong Currency Spells Recession

1/6/2009 7:23:00 AM

Ready for Stock Market Reality?

THE FINAL NUMBERS - BACK TO REALITY NEWS: On the second trading day of 2009 the market broke its three-day winning streak as the major indices fell. The Dow led the way lower with a drop of 0.

1/5/2009 7:43:56 PM

Vietnam Dong Finally Devalued

The Central Bank of Vietnam finally acceded to reality and devalued its currency, the Vietnam Dong, by 3%. Prior to the change, the Dong (as well as its neighbor, the Chinese Yuan, which has also experienced a decline) was one of the few relative winners of the credit crisis. Perhaps this was because the currency had already depreciated significantly in recent years (35% since 1994), as well as because it remains fixed to the Dollar and hence it is impossible for the markets to short it when it becomes overvalued. Vietnam continues to be plagued by double-digit inflation and a surging current account imbalance, which suggest that the currency will probably have to suffer an additional 'correction' before reaching a sustainable level. In fact, the black market rate remains well below the official rate, reports Bloomberg News:The devaluation followed five interest-rate cuts by the central bank this quarter to help bolster the economy. Policy makers last lowered the benchmark rate on Dec. 19 by the most ever this year to 8.5 percent, from 10 percent.Read More: Vietnam Devalues Dong to Fight Slowdown, Help Exports

1/5/2009 7:40:00 AM

Enlightened Family Wealth
Four Steps To Put More Money In Your Wallet in 2009

12/31/2008 8:24:00 PM

Volatility Pivot Points
Volatility Pivots for Tuesday, December 30th, 2008

12/29/2008 9:54:00 PM

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