My Life My Trade

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On the night of Wednesday Jun 24th, just minutes after midnight ET (or 9pm PT), ES went up 9 points in 2-3 minutes. There was no news of any sort to be found anywhere on the internet. More than 10,000 contracts were traded in matter of minutes (this is huge volume even for NYSE hours). Of course, all those who went short overnight, putting a stop loss a few points higher were got it. And to make matters worse, ES went onto revisit 892 the next morning.

Keep reading beyond the next two charts

Karl Denninger did some research into this (you can read more here) and found out that some news that was to be announced around noon time Thursday was leaked and whoever had access to this supposedly secret information took advantage of this.

Why should this matter to you: Even if you weren’t one of those who were short ES that night, sooner or later “they” (the goons) are going to get you and your hard earned money. It is just a matter of “when” and not “if”. They are out there and have an unfair advantage over you, and by having access to such kind of information, it just becomes to screw you over even easier.

What can you do: Tyler Durden at Zero Hedge, another blog that I have a lot of respect for has taken matters in his own hands and has lodged a complaint with SEC regarding this incident.

If you would like to invest money in these markets and not feel like you are gambling in a casino where the “house” not only has an upper hand, but is not even following the rules of the game, click here to read what Tyler is doing and how you can help him. If you are short on time, then just go to the SEC complaint page and give your feedback there. If you think, what difference can one individual like you make – trust me, you and 1000s of people like when voice your feedback/opinion HAVE and CAN STILL make a difference.