I decided in the last 24 hours that I just have to move on as best I can from this disaster and focus on trying to rebuild what was illegally stolen from me. It appears at this juncture we are looking at about 30% back initially. Whether that or anything at all comes, who knows. The clearing house supposedly has $125 Million which equates to 30% of the total segregated funds that are rumored to have been there when this thing blew up. As a result, if that number is correct, it should represent a floor for the worst case. I won't believe anything though until I see it. Once lawyers get involved they tend to wind up stealing money from those who deserve it, so maybe they will skim their fees off the top and once again the Joe's get whacked. I am not expecting a thing from the government, but they certainly should get involved due to the larger scale ramifications of all of this. We will see.
I have selected Trade Station and Knight Futures as the two spots where my new accounts will go. The money I did have set aside is at Trade Station. It is fortunate I had done that or I would have been bankrupted by the PFG situation. If I get back any money from PFG it will go to Knight. I will always have two equal accounts going forward so this can't ever happen again unless both firms go out of business at the same time. In this day and age you certainly can't rule out anything at all. We have learned that there is virtually no safety at all in a segregated account, and in fact there really is no such thing as a segregated account in reality.
We are contemplating some legal action but we have to first see what the damage is initially. It appears now the targets are family members, the CPA firm, the Bank, and the Law firm. They all have culpability it appears, and contributed to this. The real crooks in all of this are the NFA. These people are a disgrace, it is just that simple.
If by some chance the event were ever to occur where they fined me for anything, that would be a must see pay per view for my response. I don't even acknowledge that they exist now. Just read up on the head compliance person who has been involved in this. She knows absolutely nothing at all about the futures business. Aside from what I have read, some of my friends have been able to get her on the phone and were just shocked after the conversation ended. She is completely clueless. I have called and emailed her and gotten no response at all.
I don't really have any other current news and reading about all of this just makes me sick now, so I am not even bothering. However, I do have people calling me, so if I get any information that I think will benefit any of you who are also stuck, I will post it in here immediately even mid day if need be.
I do not see a lot of trades, but the short side of the Aussie seems to be a good one right now. I have indicated where I would enter it if my accounts were available to me. Since they are not obviously I won't be in that trade.
I have a second Bond System I use which is a little different than the main one I was showing here, and it has a short indicated on a stop at 150'14 for tomorrow. The exit is again first profitable afternoon opening, stop of $1600.
Let's try to get back to business and focus on positive things. Thanks again to all of you for the comments, you have made a difference in my life. Coming to grips with this loss was not easy for me since it was out of my control. The comments just made me realize how many good caring people there are out there. Some times you lose sight of that, and I did.
One last story that hit me today. I went to the vet just to find out my young guy Vinny needs a hip replacement surgery at 10 months of age. I was fortunate to have bought the Trupanion insurance policy on him, which although expensive, will cover 90% of the surgery. I could not afford to pay the 7K for it otherwise right now. As I was waiting for the doc, a couple was sitting next to me and we got to talking. They had a 1 year old dog who was in critical condition, and could not afford the surgery. They were waiting for a group called the CARE Foundation to approve paying for the surgery. He had just filed bankruptcy and was a pastor, his wife a school teacher. I felt so bad for them and tried in my mind to find a way to pay for it so they would not have to part with their dog it was clear they really loved. Unfortunately, I just could not do it now, but I would have a week ago.
I asked if there was anything else I could do, and they said no. I need to call the vets office to find out what happened and I am hoping for the best. I just made me realize, that as bad as things are for me at the moment, they can always be worse.
Let's get a good vibe going here and make some money.