Sunday, May 09, 2010

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

(QQQQ)(DIA)(SPY)

S&P 500 Emini Futures

1201/1202
1156
1131/1132
1111/1112
1087
1066/1067
1021/1022

Dow Emini Futures
11,129
10,751
10,545
10,373
10,167
9,995
9,617

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,...
More...

 
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CT

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