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Chris Angel had to work very hard to create this illusion...
Vendors of Emini Trading Systems don't have to work nearly as hard as Mr. Mind Freak.
I created the following videos over a week ago and I wasn't sure if I should release them or not. This expose' could very well get CFRN black balled from the Emini inner circle. (lol)
Once I truly realized the probable consequences of my actions, I couldn't hit publish quick enough.
Now to be fair, it took me a week to realize that the right thing to do was the obvious thing to do. Why? Because it was right!
You always do the the right thing because it's the RIGHT THING! Just ask my son, I've been teaching him that concept for years. I'm so glad I finally got it straight.
So now you know. Those flashy videos you got emailed today... may have been shot after the fact. People have taken an awesome tool and turned it into a way to trick the masses.
We trade out in the open. Michael puts it on the line every day in real time for 2 hours straight.
The E-Mini S&P 500 had its selloff and snap-back rally, then just when it looked as though one may go back into the market, we have the rumors about a possible downgrade of France! The rumors spread after Standard and Poor’s downgraded the US. The contagion fears of a larger economy such as France had the market looking bleak. It brought up points such as how much of Greece’s debt does France own? An index of European banks fell 6.7% and the KBW index of US bank stocks fell 4.9%. Bank of America was down 10.9 % to $110.34. SocGen fell 14.7% and BNP Paribas fell 9.5%. The three credit agencies, Fitch’s, Moody’s and Standard & Poor’s had denied the rumor stating that France’s AAA credit rating was intact. It brings up a very good point that if these rumors can generate some momentum, how can they be contained when they impact the marketplace? Who benefits from such rumors?
US Wholesale Inventories were up 0.6 % to $458.7 billion following an increase of 1.7% in May. This was the smallest increase in seven months. Inventories make up a good part of the US GDP. The increase in June’s wholesale stock should support manufacturing for the balance of 2011.
The US is currently with a $1.1 trillion dollar budget deficit and is seeking further cuts to harness the out of control spending. While the picture looks bleak with the great nation brought down a notch, one has to remember that over a decade ago, Canada was also downgraded. Of course, the debt in Canada was smaller than that of the US and the measures taken were agreed upon by a more united leadership. Out of the 16 countries that held the AAA credit rating, the US had been the only one existing without a parliament system. Our country has existed as a powerhouse of a representative democracy since 1917 holding that AAA credit rating. The Treasuries are still one of the most coveted safe-haven investments globally as one can see by the recent highs. The weekly high for the US T-Bonds has been $139^27 this week. The Chinese still hold at least 1.1 trillion in US debt instruments. This is a case of one hand washing the other as it would not be in the best interest of China to liquidate their positioning. It certainly will be a struggle to climb out of the US debt crisis, but we have seen historical booms following the hardest of times and believe that this too shall pass!
Thursday, we have US Initial Jobless Claims and US Trade Balance at 7:30 AM CST!
Thursday, what to expect! We are technically still in sell mode on the Daily Chart! Thursday, we anticipate an inside to lower day! Today’s range was $1178.75 - $1113.75. The market settled at $1123.50. Our comfort zone or point of control for this market appears to be $1145.50. Our anticipated potential range for Thursday’s trading could be $1155.00 - $1096.00. The market stays bearish below $1185.25.
You name it, chances are you've heard it or will hear it before it's all over. When will that be? I don't know. I do know that I tend to wax eloquent when there's really not much going on. But with the Dow Down 600 Points there will be plenty of folks fighting for your attention. Everybody deserves their 15 minutes so give 'em a listen or a read and when the dust settles... I'll be here. Mozying around. And we can chat then...
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E-Mini S&P 500: Blame game?
The American people possibly are blaming US lawmakers for the tremendous drop in the E-Mini S&P 500 today stemming from the downgrade Friday evening! The Republicans are possibly blaming the Democrats and the Democrats are blaming the Republicans. Treasury Secretary Timothy Geithner commented that Standard & Poor’s used “terrible judgment” in dropping the US credit rating from AAA to AA+! The downgrade was a reflection of instability and the inability of the US government to affect budget cuts to a desired $4 trillion when the budget cuts were more $2.1 to $2.4 trillion. The warnings had been there for some months, yet the administration could not get the house to agree on a fiscal budget that would cut spending to the desired sum. The AAA credit rating for the US had been in effect since 1917. The debt ceiling had been raised 78 times since 1960 to 14.29 trillion dollars. The haggling has left the investment community with perhaps a lack of confidence in the administration and it is now reflected in the marketplace. In response to the downgrade, a Senate Panel has begun an investigation into the credit rating. This effects the whole financial arena in the products, markets and banking sectors. The debt instruments of our AAA country have been favored by countries such as China who holds 1.1 trillion dollars in US debt. China had harsh words for our administration over the downgrade, but it is unlikely that they would liquidate the US debt instruments. The S&P 500 was down more than 6% on the thoughts of a possible recession. It was thought that panic selling contributed to the fear and anxiety to create a snowball effect. It is believed that possibly $1.35 trillion may have been lost in the stock market sell-off today! The fear and anxiety benefited safe-haven products immensely! US T-Bonds, US Dollar and precious metals all reaped the rewards of the panic stricken investment community. What is alarming would be that the debt instruments would be directly affected by the downgrade.
One must now look at the marketplace and remember that everything has a cycle! After a tremendous sell-off, there may be some bargain hunting, but where? Who will speak to calm the investment community? Where is the bottom of this move?
We may have a pause where the market tightens its range ahead of a turn-around. Bargain hunters will often average down as they start to build positioning. The US government should attempt to further budget cuts and possibly remove the Bush Tax cuts in the coming months to try to re-acquire the AAA credit rating. Moody’s and Fitch’s credit agencies still hold the US to the AAA credit ratings. It is entirely possible that this is a wake-up call to curb behavior that the US simply cannot afford.
Tuesday, we have FOMC!
Tuesday, what to expect! We are technically still in sell mode on the Daily Chart, actually more like flat spinning from 12,000 feet! Tuesday, we anticipate an inside to lower day as the market may continue until FOMC and then stall. Today’s range was $1189.00 - $1109.50. The market settled at $1111.25. Our comfort zone or point of control for this market appears to be $1150.00. Our anticipated potential range for Tuesday’s trading could be $1126.00 - $1097.00. The market stays bearish below $1146.25.
August 10, 2011 at 11:38 PM 
;)
