January 18th, 2012 Posted in Uncategorized | No Comments »
Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.
Insider Trading - trading while in possession of 'material, non public' information. This practice is illegal ... for some.
I'll be brief this morning because I'm a little upset. Pissed off is probably more accurate. The reason, four more individuals have been or will be arrested for insider trading. Since 2009, the Manhattan US Attorney Preet Bharara has charged 56 people with insider trading. Of those 56, 50 have plead guilty.
While I'm not crying for these greedy piece of God's work, I think it's a crock of dung that these individuals are being arrested for breaking laws that lawmakers create yet are NOT accountable to. In other words, if you are a member of Congress, IT IS OK TO TRADE ON MATERIAL and NON PUBLIC INFORMATION. If you're a tax paying American, it is ILLEGAL. So what gives!?
If you're not a millionaire before entering Congress, guess what? You'll be one when you get out. Regardless of how long you're there. Imagine having at least 2 years where you can get virtually free loans to buy and sell on insider information. Is it any wonder that these asses raise millions of dollars by lying to the masses for a job that pays $174,000 a year?
You may have seen this reported on 60 Minutes last year. If you haven't, you can find it easily on the web. Below you'll find the link to Steve Croft's interview.
http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-inside-information/
In response to the 60 Minutes piece, someone, no one is just ready to take credit for it yet, has introduced a bill called the Stock Act to curb if not end this practice of Congress men and women, Democrat and Republican, from trading on material, non public information.
Since no one has made this a paramount issue, most media outlets and political activists haven't really picked up on it or just don't care. This isn't surprising considering how stupid the Media, television producers and politicians really think the American public is. They're betting that we'll forget in a few months, definitely by election time. But odds are you already have forgotten, assuming you were ever aware of it in the first place.
The question now asks, "what are you prepared to do about?" ... Complain! Find your local or state politician and get in their face. Ask them, why politicians have a separate set of rules than those who elect them into office?Force them to level the playing field. (But be warned, it's sometime illegal to passionately question a politician. In some states and cities, this is considered felonious assault, even when just verbal.) Yes, really.
While I don't sympathize for the insider trading criminals already in custody, I do think they are victims of a witch hunt created by the very individuals who should be in jail for committing the same crime.
... And justice for All (yeah right)
Trading Levels
| Daily Pivots |
1/18/12 |
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| EQUITIES |
R2 |
R1 |
PIVOT |
S1 |
S2 |
| ES H2 |
1304.50 |
1297.00 |
1291.50 |
1284.00 |
1278.50 |
| TF H2 |
776.6 |
769.7 |
765.1 |
758.2 |
753.6 |
| NQ H2 |
2410.33 |
2400.42 |
2391.08 |
2381.17 |
2371.83 |
| YM H2 |
12558 |
12490 |
12446 |
12378 |
12334 |
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| ENERGIES |
R2 |
R1 |
PIVOT |
S1 |
S2 |
| QM H2 |
101.808 |
101.342 |
100.508 |
100.042 |
99.208 |
| QG G2 |
2.638 |
2.567 |
2.503 |
2.432 |
2.368 |
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| GRAINS |
R2 |
R1 |
PIVOT |
S1 |
S2 |
| ZS H2 |
1195.8 |
1189.2 |
1179.6 |
1173.0 |
1163.4 |
| ZC H2 |
612.7 |
609.3 |
605.7 |
602.3 |
598.7 |
| ZW H2 |
613.1 |
609.1 |
605.3 |
601.3 |
597.5 |
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| METALS |
R2 |
R1 |
PIVOT |
S1 |
S2 |
| YG G2 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| YI H2 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |