Monday, May 31, 2010

Darren Saunders Memorial Service

On Tuesday June 1st 2010 at 6 PM EST, Dewayne Reeves and Mark Faulk held  an online memorial for our friend and ally Darren Saunders at To listen to the Podcast Click Here.

Sunday, May 30, 2010

Weekly Trading Zones / Emini Futures Trading - Sunday May 30, 2010


S&P 500 / ES Emini Futures

Dow / YM Emini Futures Trading

Pray Hard & Trade Safe!

Friday, May 28, 2010

Where's the Blessing? / Emini Futures Trading


"How good and how pleasant it is for brethren to dwell together in unity…for there the Lord has commanded the blessing…"
(Psalm 133:1-3, AMP)

The founder of a company that grew to a billion dollars in annual revenue expressed the power of teamwork in this way, "If you could get all the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time."

The church is a boat similar to the one this CEO was talking about, but rather than a row boat we are a life boat. We are a lifeboat to the world. Many of us already have our oars in the water, but what I’m talking about is how we all need to be rowing in the same direction.

Stack Trade Daily Results 05/28/10 
CFRN Weekly Trading Zones
Friday, May 28, 2010
Pierre Lassonde is one of the living legends of the mining and resource world with over 35 years of experience. His accomplishments are simply too many to list, but one example is Pierre co-founded...
Thursday, May 27, 2010
Felix Zulauf has been a member of Barron’s Roundtable for over 20 years. Investors have only read about Felix in Barron’s because he simply does not give interviews outside of Barron’s, but Felix was...
Thursday, May 27, 2010
As Chairman and Chief Investment Officer of Leeb Capital Management, a registered investment advisor, Dr. Leeb has been managing big cap growth portfolios since 1999. Over the last decade, his...
Tuesday, May 25, 2010
Pierre Lassonde is one of the living legends of the mining and resource world with over 35 years of experience. His accomplishments are simply too many to list, but one example is Pierre co-founded...

Lint on the Lens 
(sung to the tune of Pants on the Ground) 
Imagine you're watching a movie.

You're in the movie theatre. The lights dim. The movie starts to play and you notice that there's something funny on the screen. You walk up to the front and try to wipe off the little thing that's on the screen.

Still there! Weird. You try again.
Still there! Gah! Now you're getting a little frustrated. You try again. This time you scratch harder. Still there! GRRRRR!! Now you're really getting upset.

So you start scratching away at the screen ... knowing what you're doing SHOULD be working ... until you scratch a hole right through the screen and ruin it.


Of course, the issue was NEVER with the screen. There was a tiny something on the PROJECTOR that showed up on the screen. No (!!) amount of scratching on the screen would change the fact that the projector's lens had some lint on it.

How often do we go through our lives thinking we need to change our "movie screen"?!?

The solution is remarkably simple: We need to dust off our lens.

“If God is for us, who can be against us?”
Romans 8:32, NKJV
God is for you.
Your parents may have forgotten you, 
Your teachers may have neglected you,
Your siblings may be ashamed of you,
but within reach of your prayers is the Creator of the Universe.


God is for you!
Not “may be for you,”
Not “has been for you,"
Not "once was for you,"
Not “would be for you if ___,”

God is just simply for you.
Right Here.
Right Now.
No Matter What... 

Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in our nation's service. Enjoy the family, enjoy the Bar-B-Que, but take a moment to remember those who willingly gave their lives to make your freedom possible. 

Pray Hard & Trade Safe!

(we return to the airwaves Tuesday June 1, 2010 @ 11AM EDT)

Thursday, May 27, 2010

Friday Morning We Will Trade LIVE w/ Michael Borque - Stack Trade Developer


Friday May 27th, 2010 - Tune in Early!
We will begin Live Trading @ 10:00 AM Eastern with Michael Borque the developer of Stack Trade. Click Here to access both Audio and Video. If you've never seen the indicators in action, you're in for a real treat!

Choose This Day / Emini Futures Trading


"…choose for yourselves this day whom will you serve…"
(Joshua 24:15, NIV)

You may be an ambassador to England or France
You may like to gamble, you might like to dance
You may be the heavyweight champion of the world
You may be a socialite with a long string of pearls.

But you're gonna have to serve somebody, yes indeed
You're gonna have to serve somebody,
It may be the devil or it may be the Lord
But you're gonna have to serve somebody.

Joshua made a definite stand! A powerful one. Against the odds. He must have been rediculed, persecuted, and abandoned. His decision was unpopular to many people who chose to worship their idols, their wealth, their jobs, and their possessions.

Joshua was a military leader, a prophet, a judge. He was a man of influence. A spy. A war strategist famous for breaking down the walls of Jericho.

Joshua challenges us. No doubt about it. How can't you not be motivated by his famous words? Be strong and courageous! Be strong and very courageous! Fear the LORD! Now he asks us: Whom will you serve? Who will be your master? Who will be your King? You have to choose.

This is my stand. As for me and my house, we will serve the LORD! (Joshua 24:15)

If you take that stand as I am, this is Joshua's instructions. “Do not let this Book of the Law depart from your mouth; meditate on it day and night, so that you may be careful to do everything written in it.”(Joshua is 1:8) For us Christians, the Word of God is our lifeblood. It's the lamp upon our feet and the light unto our path.

Let us adopt to Joshua's strategies and for sure we can win our battles. We can break down our modern Jericho walls of "sexual immorality, impurity, lust, evil desires and greed, which is idolatry" (Colossians 3:5) As William Hazlett puts it: " If you think you can win, you can win.  If you think you can't, your also right. Faith is necessary to victory."

Stack Trade Results for 5/27/10

Trade Stalker Results for 5/27/10
The second 25+ point open in 3 days for the ES happened on
the upside on Thursday, and from the 1089.25 big resistance
area the market pulled back for about 30 minutes and turned
back up. The ES went from 1082.50 up to the 1094 resistance
area and then traded sideways going into early afternoon.
The 1089-1088 updated support was reached, and from 1087.50
a quick reversal occurred and a rally back to the 1094.75
area followed. A pullback then held at the 1091.50 updated
support and then the market broke the range to the upside.
The 1097.75-1098.50 zone was rejected but the market refused
to buckle and with 30 minutes left the market headed back up
and reached the 1103 level on the SP500 cash at the close.

The market had a strong move higher, similar to Monday's big
up move. The closing Trin was an extreme .32, about as
strong internally as it gets. In addition, the Vix imploded
15% and gave a couple of sell signals. The RBI oscillator is
very overbought, among other short term gauges.

Weekly Trading Zones

“I give my life for the sheep.” 
John 10:15
The ropes used to tie our Lord’s hands and the soldiers used to lead him to cross were unnecessary. They were incidental. Had they not been there, had there been no trial, no Pilate and no crowd, the very same crucifixion would have occurred. Had Jesus been forced to nail himself to the cross, he would have done it. For it was not the soldiers who killed him, nor the screams of the mob. It was his devotion to us.

Who you gonna choose?

Pray Hard & Trade Safe!

Wednesday, May 26, 2010

The Power of Thought / Emini Futures Trading May 26, 2010


"For as he thinks in his heart, so is he"
(Proverbs 23:7, NKJ)

The Power of Thought
We all have someone in our life who has a great attitude and never really seems to stress out or waste their time worrying over something they cannot control.  And more times than not, things seem to always work out and come pretty easily to this person, right?  On the flip side, have you ever noticed that most people’s biggest fears seem to come true?

So, be careful what you wish for, or rather, be careful how you wish for something! The things we spend the most time putting our energy into, positive or negative, tend to come true.  Think about it.  Likes attract likes.  Whenever we find ourselves in a state of desperation, negative thoughts consume us, and we dig ourselves into an even deeper hole.  But when something goes well, we often get on a roll- and Watch Out! (Listen Now)

Join us for a Webinar on May 27th

Space is limited.
Reserve your Webinar seat now at:

Look over the shoulder of Burton Schlichter, an experienced DT Broker and author of the “Capture the Move"  newsletter which is exclusive to Daniels Trading Clients.  He will use his trading experience to identify opportunities in todays markets and share with you his formula for trading!  Join the others who have “Captured the Move” and allow yourself to become an active trader while still maintaining a busy life.


Capture the Move! A predictive not descriptive look at today's market


Thursday, May 27th


2:30 PM - 3:30 PM CDT

After registering you will receive a confirmation email containing information about joining the Webinar.

Page Trader Daily Results 

Stack Trade Daily Results

Weekly Trading Zones

Trade Stalker Daily Results
HOW OUR DAY WENT: The market had a good rally going, but
after rejecting the 1089.50 level on the ES things began
to change. After a pullback occurred the ES made a wedge
and in the Instant Message room members were told to sell
the 1083.50-1084.00 area. After reaching 1083.50 the ES
turned and dropped fast. Then I stated in a regular update:

(May 26-15:05) mike: The ES made another wedge pattern off of
the high, and after it broke the 1083.50-1084.50 area was sold
and they dropped to 1074 before reversing. If 1080 can be
exceeded and held, the market will be ok but if 1080 can not
break/hold then a drop into the close could occur.

The bounce touched 1080.00, then turned and dropped hard again
reaching 1060.50 by the close. FREE TRIAL

Notes from Today's Show

Pinn illustration

The grasshoppers and the ants – a modern fable
By Martin Wolf 

Everybody in the west knows the fable of the grasshopper and the ant. The grasshopper is lazy and sings away the summer, while the ant piles up stores for the winter. When the cold weather comes, the grasshopper begs the ant for food. The ant refuses and the grasshopper starves. The moral of this story? Idleness brings want.

Yet life is more complex than in Aesop’s fable. Today, the ants are (read more)

From Benford to Erdös

Mark Nigrini shares the story of physicist Frank Benford, a man whose curiosity about a book inspired a bizarre discovery. Benford's Law, as it is now known, reveals a cosmic preference for certain numbers. Then Darrell D. Dorrell, a forensic accountant, describes how he uses Benford's Law to bust crooks.

Paul Hoffman tells us the story of a boy trapped in a world of numbers, who grew into one of math's greatest proselytizers, Paul Erdös. Joel Spencer and Jerry Grossman help bring to life the man behind the numbers. From producer Ben Calhoun.

Always Watch Our For Number 1
If you ever plan to cheat on your taxes, here’s something to consider (besides prison): Make sure that most of the numbers you fabricate start with the digit 1 (one). The second-most common leading digit should be 2, then 3, continuing on that pattern to leave 9 as the least common leading digit. This distribution is called Benford’s Law, and it’s a lot more straightforward than tax law… though why it exists is nearly as mysterious. (read more)


I felt the hackles go up around the globe today when David brought up Edgar Cayce. If you don't know who he is or would like to know more (click here)

 "Behold, I have given you every herb bearing seed, which is upon the face of all the earth, and every tree, in the which is the fruit of a tree yielding seed; to you it shall be for meat." 
God (Genesis 1:29) 

Pray Hard & Trade Safe!

Tuesday, May 25, 2010

The Love of Money / Emini Futures Trading


“He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity” (Ecclesiastes 5:10)

The Love of Money - (Listen Now)


Pray Hard & Trade Safe

Monday, May 24, 2010

CFRN Daily Show Returns / Emini Futures Trading May 24, 2010


"On the other hand, a considerable number from the ranks of the leaders did believe. But because of the Pharisees, they didn't come out in the open with it. They were afraid of getting kicked out of the meeting place. When push came to shove they cared more for human approval than for God's glory."John 12:42-32(The Message) 

What other people think of me is none of my business! (Listen Now)

Page Trader Calls for 21 Point Decline Today

STACK TRADE Daily Results

Pray Hard & Trade Safe!


Sunday, May 23, 2010

Weekly Trading Zones / Emini Futures Trading - Sunday May 23, 2010


S&P 500 / ES Emini Futures


DOW / YM Emini Futures

If you are trading the Sunday night Globex session, watch for a break above 1089. Should the opportunity present itself, a trade on the long side up to the 1098/1099 Weekly Zone looks attractive. Should price move below 1074 overnight, we would then consider a short to the 1060/1061 Weekly Zone.

The rumors are true, we really are returning from Sabbatical tomorrow morning @ 11AM EDT.

Stream CFRN LIVE on your iPhone!
Download the Free App Here
Once you have installed the free app,
simply enter the following URL and save as CFRN

Friday, May 21, 2010
Jim Rickards is a Senior Managing Director and has been a direct participant in many of the most significant financial events over the past 30 years including the 1981 release of hostages from Iran...
Friday, May 21, 2010
US Senate Candidate, Founder of Euro Pacific Capital & Successful Author (NEW BOOK “How an Economy Grows and Why It Crashes”) - Peter Schiff is a respected figure whose financial advice is highly...
Friday, May 21, 2010
Mark Hanson is Founder and Managing Director of MHanson Advisors a 20 year veteran of the mortgage industry. Mark consults for investment funds and he has appeared on CNBC, Fox Business, Bloomberg,...

Pray Hard & Trade Safe!

Live Trading w/ Michael Borque Developer of Stack Trade - Friday May 21, 2010


With the exception of some brief technical difficulties on my end, our live broadcast and webinar Friday went exceedingly well. The audio portion was recorded (Listen Now)

This past week was not without its own drama but the market does seem to have settled down just a bit as evidenced by price behavior in relation to our Weekly Trading Zones. There is a theory in the markets that whenever something abnormal happens, call it a glitch, bad tick, fat finger trade, ghost in the machine, theft, it doesn't matter. The theory says that price will revisit the scene of the drama to test whether or not it was real or in fact just one of the things listed above. The test we had Friday came as no surprise. It was however a bit uncanny that the final leg up into the close turned at exactly 1068 which was our lowest Weekly Trading Zone published last Sunday night. Throughout the week we saw many instances of the Weekly Zones doing what they do best. Here are a few charts highlighting the week.

S&P 500 / ES Emini Futures

DOW / YM Emini Futures

Only a few people know that we are returning to the airwaves Monday May 25th @ 11AM EDT. You are now one of those select few. See ya there.....

Pray Hard & Trade Safe!

Wednesday, May 19, 2010

Live Trading on CFRN


Stack Trade Live Trading on CFRN
Friday May 21st 10:30am EST
Featuring Stack Trade Indicators
Please join us Friday at 10:30 am EST for a 1 hour webinar featuring our indicators in a LIVE market environment!

In this webinar, the developers of Stack Trade will explain how these signals were developed and how they are used to create trade set-ups following the flow of the market and get a sneak preview of our New $MP_DMT Indicator that shows Direction, Momentum and Strength of Trend! 

These proprietary indicators were developed by day-traders for day-traders and have been honed specifically for trading e-mini stock index futures such as the ES.  
Participate via live Webcast.
Friday May 21, 2010 10:30 a.m EST 

REGISTRATION LINK to attend this free web-event.

Win a FREE month of Stack Trade Indicators and access to the Stack Trade Chat Room
Inviting a friend to the Live Stack Trade Trading Demonstration Friday May 21st at 10:30AM EST might win you one (1) FREE month of Stack Trade Indicators and access to the Stack Trade Trader’s Chat Room (a $300 value)!
Have your “Guest” send an e-mail to with the subject “Guest” and include in the e-mail your name. You will be entered one chance to win the free month. 

Every Guest you invite will increase your chances of winning. All guests MUST attend over 75% of the webinar presentation.

The winner will be notified the following day (Saturday May 22nd) and will be mentioned on our website. Please contact with any questions.

  Check Us Out On YouTube! 
Stack Trade has combined two separate videos. The first explaining the Price Action video and the second video is a live trade video using the Price Action setup.
Here's the link to access the video

Special Offer! 
Try Our Indicators and Chat Room for One Week Free!
All attendees of the Friday May 21st Stack Trade webinar will receive a one week Free Trial of our indicators and access to the Stack Trade Chat Room where you will be guided through the setups in real time! 
Click the Free Trial link to sign up for your week trial!

Get 2 Extra Days If You Digg It! 
We will offer you an additional 2 free day of indicators and access to the Stack Trade chat room for submitting your feedback to Michael's video located on Digg It.
Click the Video link and follow the simple directions to receive your 2 additional days free.

Sunday, May 16, 2010

Weekly Trading Zones / Emini Futures Trading - Sunday May 16, 2010


S&P 500 Emini Futures


Dow Emini Futures

Pray Hard & Trade Safe!

Friday, May 14, 2010

SFEG / Santa Fe Gold Corp Insider Buying


Santa Fe Gold's Lordsburg Mill Produces High Quality Concentrates from Summit Gold and Silver Ore
Business Wire(Mon, May 10)

“We also are delighted with the quality of the concentrates being produced. We have been processing low grade ore as planned; however, the concentration ratio of metals from the ore to the concentrates has averaged a factor of 200:1 rather than the expected 100:1. As a result, we have achieved higher than expected concentrate grades from the low grade ore processed. The concentrates average over 10-12 ounces per ton gold and 600-800 ounces per ton silver." (read more)

In addition, information about companies in Standard & Poor's Market Access Program will be available via S&P's Stock Guide database, which is distributed electronically to virtually all major quote vendors. As part of the program, a full description of Santa Fe Gold Corporation will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws. (read more)

Santa Fe Gold  Insider Buying
at, Apr 22)

NEW YORK (TheStreet) -- Which insiders are selling and buying chunks of stocks? Below are lists of the top 10 open-market insider purchases and sales filed at the Securities and Exchange Commission Wednesday as ranked by dollar value. Company executives and directors are in the best position to assess the attractiveness of their firms' shares, and here is how many of them are voting their wallets! Please note, however, that these are factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction.

SandRidge Energy (SD) Fairfax Financial Holdings BO 1,000,000 $7,016,100
Trans World Entertainment (TWMC) Higgins Robert J CB,CEO,
201,800 $355,168
Spectrum Brands (SPB) Harbinger Capital Master Fund I BO 6,500 $190,895
Santa Fe Gold (SFEG) Olson Lawrence G DIR 100,000 $95,000
Hersha Hospitality Trust (HT) Hutchison Thomas J III DIR 17,763 $93,256
Uonlive (UOLI) Zeng Yang DIR,BO 550,000 $55,000
ATS (ATSC) Osmium Special Situations BO 15,350 $42,816
Canterbury Park Holding (CPHC) Sampson Curtis A DIR,BO 2,000 $16,050
International Assets Holding (IAAC) Friedman Jack VCB,DIR 600 $9,600
Nexstar Broadcasting (NXST) Hammond Elizabeth VP,GC 730 $4,979
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Sunday, May 09, 2010

Weekly Trading Zones / Emini Futures Trading - Sunday May 9, 2010


S&P 500 Emini Futures


Dow Emini Futures

Volatility is back! After the "Nightmare on Wall Street" which we've already offered our opinion on, we are still seeing 3 minute moves that are equivalent to or greater than the average daily range of the past many months. Don't be fearful, just careful. You must have a Hard Stop. In a fast market you might still see a few ticks or even points of negative slippage but the good news is, with a Hard Stop, you'll most likely live to trade another day. 

One of the articles I read said something to the effect that $8B was lost and $6B was regained within 15 minutes. Investors and Traders were so relieved by the rapid recovery they seem to have gladly just written off the missing $2B. They say it "Vanished". $2B does not vanish. It simply lives in the account of someone else now. You've already read my rant on what I believe was pure unmitigated pre-meditated fraud. It seems there are others who have some suspicions of their own.

I originally found this article on Al-Jazeerah. I'm not a big fan of quoting Al or the Huffington Post, but it is what it is, and I really think you should read this. It WILL happen again my friend. The perfect heist was pulled off in broad daylight and investors were so ecstatic to recoup most of their money from the "Ghost in the Machine", you can take it to the bank that the thugs will be back. 

Stock Market Collapse: More Goldman Market Rigging? 

Last week, Goldman Sachs was on the congressional hot seat, grilled for fraud in its sale of complicated financial products called "synthetic CDOs." This week the heat was off, as all eyes turned to the attack of the shorts on Greek sovereign debt and the dire threat of a sovereign Greek default. By Thursday, Goldman's fraud had slipped from the headlines and Congress had been cowed into throwing in the towel on its campaign to break up the too-big-to-fail banks. On Friday, Goldman was in settlement talks with the SEC. (read more)

Saturday, May 8, 2010
Rob Arnott is the Chairman of Research Affiliates, a global leader in innovative investing and asset allocation strategies. The firm manages and licenses nearly $50 billion. Rob sub advises the Pimco...
Thursday, May 6, 2010
Breaking Interview: On a day when the DOW closed down 430 points after falling 1,000 points and gold closed up $33 to roughly $1,210, Jim Sinclair was kind enough to spend some time making sense out...
Wednesday, May 5, 2010
Bill Fleckenstein is often quoted in both national and international media. He has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN,...

Be sure to sign up for the Page Trader Webinar w/ David Williams 
hosted by our friends Burt and Leslie at Daniels Trading.

Tuesday, May 11
03:30 PM - 04:30 PM CST

Sign Up Today! Space Is Limited.
(Internet Explorer users Click Here)

Pray Hard & Trade Safe!

Friday, May 07, 2010

Page Trader Webinar w/ David Williams


Tuesday, May 11
03:30 PM - 04:30 PM CST

Sign Up Today! Space Is Limited.
(Internet Explorer users Click Here)

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S&P Messenger Pro Past Performance
If the trading charts below strike you as handpicked 'picture perfect' examples, carefully singled out to impress and dazzle you...look again! They're nothing more than highlights of the previous week of S&P Messenger in action! Click on any chart to enlarge.
Past Performance Charts

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Nightmare On Wall Street / Emini Futures Trading - Thursday May 6, 2010


S&P500 Emini Futures

Who Ya' Gonna Believe?
We happened to be live on the air this morning when it happened. Unscripted, unrehearsed, live raw radio. (it's what we do best) (Listen Now)

We had just discussed the possibility that the "Financial Center of the World" might soon be filling out a change of address card based on the fraud of GS, the incest of the Fed, the ineptitude of the SEC, and the impotence of our POTUS.

Then it hit. Billions were lost in seconds. There are many theories as to what happened, much speculation about how it happened, but the street is eerily quiet about WHY it happened.

Hello.......... the Fed's latest shill, the greatest investor of all time, spent an hour on CNBC a few mornings ago assuring investors everywhere that everything here in America was hunky-dory, that Greece was a non-event, and that all investors both big and small should be long, long, long. If you've listened to this show for any length of time you know that such verbiage is code to the monied elite. It's not like a Beatle's album you have to play backwards to understand the secret message, it's blatant obvious upper east-side lingo for Sell Sell Sell.

Poor timing you say? I couldn't agree more.

Heck it's almost as uncanny as America's "CEO" saying "Drill Drill Drill" just before an oil rig explodes. Let's face it, if you're still listening to this tin-foil commando (me), it's because I've been right every step of the way since I first broke the air-waves 5 years ago. I'm not boasting, but somewhere between the Pope and Peyote, I simply stopped believing the illusion. I awoke from the dream called reality and said "My head hurts, my breath is horrid and I have dogs in my nose. Run from Wall Street, run from Real Estate, Buy Gold".

I said it over and over and over and over. Go read the articles, listen to the archives, view me honoring my subpoena and handing over my records while Cramer (the original Fed shill) hid behind CNBC's high dollar attorneys and wrote "Bull" on his. 

I had nothing to hide then and nothing to hide now. I'm incredibly bullish on real estate at current prices and still the same champion of Gold I was then. Today Real Estate is dirt cheap compared to what it was 5 years ago and Gold is still incredibly cheap today compared to what it will be 5 years from now. Based on those two facts I could care less where Wall Street's zip code is. I will make my fortune based on that which God created, not man.

Before I digress too far, let's get back to the main point of tonight's post. If you were long today and your position was stopped out, you got robbed. Not a simple street corner stick 'em up style robbery, no my friend this was a highly sophisticated, authorized at the highest levels, con. 

We can deploy algorithmic trading programs that enter and exit flash trades in less than a second yet we are still susceptible to a fat finger trade greater than the GDP of Massachusetts....... I'm mean Greece? (same thing)

I'm going to give you a mainstream explanation of what happened below. Believe it if you will. But this my friend you must know, if you were on the wrong side of the market today, you know...Warren's side, Barrack's side, Little Timmy Two Guns side,  NOBODY is going to give you your money back. You Are Screwed! It's high time you learned the days of bail out are over and you, you silly little ignorant retail investor, had better learn the lesson.

Now here's what REALLY happened 



Wild day on Wall Street leaves electronic exchanges under scrutiny

Washington Post Staff Writer
Friday, May 7, 2010
Stock markets went haywire on Thursday. Shares were already falling over fears of fiscal problems in Europe when something, perhaps a structural flaw in U.S. markets, dragged prices into a historic and breathtaking plunge.

In the span of minutes, the Dow Jones industrial average plummeted nearly 1,000 points from its previous close -- a record -- and whipsawed back up, creating one of the wildest trading days ever. The Dow still closed down more than 3 percent, and more unrest may be in store for Friday as market officials and regulators try to sort through the aftermath.
Rumors about the cause of the chaos were rampant on Wall Street and in Washington. Some traders speculated about human error, such as an electronic trade of stocks entered with the wrong amount. Regulators offered little clarity, saying they would investigate.
Some price swings of stocks defied logic. The shares of Accenture, a consulting firm, fell from $40 to a single penny and then back to $40 again. Procter & Gamble traded at $54 on the New York Stock Exchange. But at the same time, Nasdaq was reporting that the company's shares were selling for $39.
Thursday's dramatic gyrations added fuel to the biggest policy debate in Washington: how to regulate Wall Street. That billions of dollars in stock-market value could be wiped out so abruptly, with such a lack of certainty about the cause, is a reminder of the high stakes involved in a system that is little understood by average investors.(read more)