HOLD THE PHONE!
This came out this afternoon in another odd wrinkle to the bizarre case. Even with today's discussion of dollar amounts, there still appears to be an incredible lack of clarity as to what the facts actually are. One place where there is clarity, $650 per hour every hour of every day to the Trustee. He will net millions while in the process most of us will maybe get half of our money back. It is amazing to me that if the idiots at the CFTC who could not find a fire hydrant to piss on if they were dogs at a fire station, could find $45 Million of bogus entries, why can't a firm charging $650 an hour and also employing Price Waterhouse at surely another sickening rate, find these same entries.
Many of us, myself as one of the prime instigators, have pushed the Trustee very hard to get us some of our money back. His argument has been they need to check all the books. They have had 2 months and been paid millions at this point, why the hell can't they tell us what they have and have not found. Why does this have to be such a gigantic secret? We already know the news is bad, just tell us the frickin truth! If there was truly a $45 Million discrepancy in bogus accounting out of $400 Million, that is a significant percentage. There supposedly was one or more transactions, where money was wired from one PFG account to another one. I suspect that this is how this guy stole the money, and it is probably what the CFTC found. If they happen to pay out 30% of a fake balance to one of the co-conspirators, that would be unforgiveable. I see King DB ( I think most of you get what that stands for ), is trying to get released. It would be just like a judge to grant that, so he either offs himself, or does a duckout out of the US. The duckout is a move I would like to make. It would be nice if he would accept my offer to meet me in the Octagon for a pay per view event.
The saga goes on, but it certainly appears there is likely to be a hold up in the first distribution now. As to whether or not the bogus 45 Large here means they in reality have a larger or smaller percentage of our money, who knows. I think in any event, this is not being handled well by Bodenstein. With his experience he ought to be able to do better than this. On to the markets.
Here is one market that seems to be setup for a buy right here, Crude Oil.
You can see my new tool I debuted this past weekend, and why I like it so much. This is my new improvement on the COT Synthetic indicator. It does not always pick all the swings, but it sure has here up to now. This last signal is yet to be determined, but it does indicate a rally should happen. I don't just trade on one thing alone, and would not do that with this either. However, it does seem to indicate we should have another leg up.
One place today where I was looking the wrong way, but did not get hurt, was Soybeans. This is why I generally buy above highs and sell above lows. It forces the market to drag me into the trade, and if it does not prove itself first, I don't get into the trade. In this case having the stop above the market kept me out of trouble. It never rallied enough to get to my buy stop. As a result, even though I was looking the wrong way, I did not lose any money. I don't feel bad in situations like this. It is just a trade nothing more. The fact that I was looking the wrong way, does not faze me at all. The reason I have entry rules is for just this type of situation. I don't just blindly buy at the market because I think a setup is there. I need a bit more than that.
We have had some large ranges here so the stops are a bit wide for me in a few places, so I am waiting on some setups to give me better entries.
The website is going slow, I am having a hard time with the FTP stuff from the hoster. It is not working right at the moment which is delaying me launching it. I hope to have it done this week but who knows.