ON A ROLL
You can see the Bond System had a buy on the opening last night in what appears to be another very good trade right now. I have to admit I am surprised how well this is doing. It is rare that a system makes more money out of sample than in sample, although I have had it happen before. The one asterisk to that comment is that this is the exact system I used to use before, with the aspects of it that were ruined by the electronic markets removed. As a result it could be argued this is not really out of sample since it was not just created. It was created basically 10 years ago.
We still are not at the level of interest I require to launch this, so if you are interested please email or call me at the numbers I put in the post two days ago. As luck will undoubtedly have it, since we are on such a roll here, once we launch it the first loss in a while will probably happen on the first trade we take! I have missed many of these trades due to being out of business due to the PFG situation.
PFG - There does not seem to be anything new here other than some story about another potential scam going on with precious metals. It has been my suspicion all along that he did not act alone, and if the PM story is true, that may open this up to the broader truth of all of this. The story I read about that scam would have required others to be involved. It is my hope that someone from US Bank was somehow complicit. If we are lucky enough for that to be true, we all would wind up fine in the end, since they have deep enough pockets to make us whole and could be easily forced to do so. That may be a pipe dream on my part, but it is the only way I can see that we will wind up ok here. Barring that the outcome is not going to be good for us. I wrote my senator and congressman yesterday, you should do the same if you are effected. Here is what I would emphasize if you choose to do that. I made it clear that I relied upon the regulators comments that there were no other firms with problems out there, in determining not to move my money. As a result, they are on the hook for the money and need to make us whole. The way they structured the oversight through an SRO to essentially block us from recourse, is further evidence of them treating US Citizens unfairly. Further I emphasized that the only way to make sure my funds were safe was to get them out of the US and into a Canadian firm. What they have done is driven money out of this country.
I doubt anything will happen, but we have to try everything we can. Just sitting here and hoping out of the kindness of their hearts they help us, is not likely to bring in a good result in the end.
Here is a market I was looking at last night, the Russell. You can see how well my COT Synthetic has worked in this market. I was contemplating shorting this today, but it wound up not making it through my checklist being eliminated on one of the very first filters. You can see that in general, the COT Synthetic has been bullish the last week here. I have lines drawn in at + 15 and - 15 here. I have a hard and fast rule with those numbers, that is why there is no arrow in a few spots where it gets close to those lines. It has to go past those levels to be a signal, I won't bore you with why. It was months and months of finding the best levels with this before I realized those levels were critical. I would not pass on a trade if these levels were not lining up, but I do in general like to see what this is telling me. In this case it is bullish still.
I think something we all need to check into is opening accounts in Canada to protect ourselves. However, I suspect that you have to be a Canadian citizen to get the protection from their government even if you don't live there. This is something we need to get clarification on. My brother in law was involved in a case as an attorney where a non Canadian Citizen was not given certain protections he thought he had up there, although it was not this same scenario. I have him checking into this for me as well. I think some of you readers should make some calls, and let's compare notes on this in here.