STILL NOT A LOT OF SETUPS FOR ME
It is hard for me to get completely clear of all of the crap surrounding the fraud situation, so here is the latest for those readers who have exposure. I spoke with a childhood fathers friend, who is a well respected professor of law at the University of Michigan, one of the top law schools in the country. I did not gain much additional insight but I am pretty clear now on one thing. Any suits against the government are not likely to succeed. Apparently there are so many prior rulings in their favor on so many things, that it is very hard to win a judgement against them. This is no surprise. We also know now that the accountant was a one man operation, so a dead end there. For those who may have contacts, or are attorney's, I think we need to find a way to go after either US Bank or JPM.
I don't know if any arguments that are reasonable are to be found with either of them, but we at least have to look there. The question is was there any negligence on the part of either of them in this matter. I do not know the answer to that. I can conceive of a few possibilities, but we just don't have enough facts yet. I think the net of all of this is, we will be fortunate when all is said and done to get half of our money back. We need to move on and barring legal action against either of those banks or someone else who might develop as an accessory, this guy just got over on us. The government will not in this matter or any other matter, protect us. I read the minutes of Gensler from the CFTC in congress, and basically he just said they can't catch all of the criminals just like the local police.
I am going to my local congressman's office today to try and get something going, but that is likely a huge waste of time. I am doing so just for closure basically. However, here is my big picture plan. Once I get back on my feet again, which could in all honesty take years, I am going to launch a public relations campaign against the regulators like nobody else has ever seen in history. It will become my mission to bring every one of them down. I will do it through this and other similar forums. Each day I am devoting just a little time to bank away some ideas about how to do it when I start it. Then at the right time, likely years from now, I will have at it. Until then, time to put this behind me. I think it is reasonable to plan on 30 to 50% back.
I have asked Trade Station to put me in touch with a management person at their bank to verify their segregated account and they are considering it. I will report the conversation if it happens.
The above chart is one possible opportunity I see, Natural Gas. I think if today's low were to be taken out tomorrow, this market could be shorted. Some of my indicators not shown, are close to turning down here.
The Bond System long was reversed to short on the opening today, losing 3/32's but producing what appears to be a big winner today. That trade indicates an exit on any open under 151'18 tonight.
That's all for today. Since I am not trading yet although that TS account is open, I don't have as much as I normally would have. My life has kind of been taken away from me, and I am focusing on a job I have now. Once whatever money comes back that is coming, it will be time to re-evaluate. I have to protect my family first and survive this, before I can be real aggressive about re-building.