Posts Tagged ‘Earthquake’

Level 6 Position

March 15, 2011 Leave a comment

I have initiated a position in Intrade’s Fukushima Level 6 INES scale contract. Should the contract expire at 100, I will donate 100% of my proceeds to a relief fund working in Japan.


Stock Implications

March 15, 2011 Leave a comment

The Dow is down 200 as of 1:45pm EST, having recovered from a session low of -300. Below are recent charts from a variety of stocks and ETF’s affected by the catastrophe in Japan.

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Japan Earthquake Related Contracts

March 14, 2011 2 comments

I wrote a post earlier today in the Intrade Forum commenting on the unsavory nature of the two earthquake/nuclear meltdown contracts that surfaced on Intrade in the past 24 hours. One contract (which one would assume will expire at 100 whenever Carl Wolfenden gets to work and reads the news of the new explosion) dealt with a “Another explosion to occur at a Japanese Nuclear power plant before midnight ET 31 Mar 2011.” In the past Intrade avowed that it would not list any contract dealing with mass casualties, body counts etc. I don’t really see how Intrade differentiates this nuclear explosion contract from a strict “casualty” contract. There were casualties in both the first and second nuclear-related explosions earlier this week, and there will certainly be an increase in cancer levels among not only the heroic workers who’ve stay behind to fight the fires, but also amongst those who were unfortunate enough to be inside the affected zones at the time of the explosions.

The second contract deals with the International Nuclear Event Scale and what level the Fukushima incident will eventually attain. The contract trades for Level 5, Level 6, and Level 7. Again, God forbid Fukushima reaches Level 7 (Major accident — Major release of radio­active ­material with widespread health and environmental effects r­equiring implementation of planned and extended ­countermeasures), as this will most certainly imply death and/or widespread injuries and an increase in cancer levels in the region.

In summary, I realize Intrade wants to grab headlines and make a splash in order to attract publicity and thus new traders, but listing contracts associated with one of the worst humanitarian disasters of the last 50 years is the complete wrong way to go about achieving such goals. Shame on you Intrade.