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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Jopps who wrote (26872)	11/23/2011 5:15:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 218738

Another intervention? Did we have the first? GZ

To: Jopps who wrote (26872)	11/23/2011 7:24:17 PM
From: Hawkmoon	2 Recommendations Respond to of 218738

Whatever it was, it was the low of the day for ALL three indices... And it occurred on light volume, which means we have continuation on Friday and very likely Monday.. If the indices do rally, it won't be believed until a hammer is put in on reasonably heavy volume to either the upside or downside. What I see is a buyer's strike, and those currently long have yet to be convinced there's reason to panic (probably due to perceived valuations on current equities). Happy Turkey Day!! Cya on Friday.. Hawk

To: Jopps who wrote (26872)	11/24/2011 6:53:32 PM
From: GROUND ZERO™	6 Recommendations Respond to of 218738

24 November 2011 Warren Pollock: Open Letter to the CME Wednesday, November 23, 2011 Open Letter to the CME To: Terrence A Duffy, Chairman CME Group As illustrated by the failure of MF Global, I am of the opinion that, the CME has not met its basic obligations to the marketplace as a “public fiduciary.” Our society depends on “basic finance” to provide “utility function” such as banking, hedging, insurance, and/or capital formation. Presently, we have an “innovative system” that degrades the integrity needed for “basic finance” to perform as required in a well-structured economy. Worse yet, our “innovative” financial system impedes the effectiveness of the greater “physical economy.” The “physical economy,” consisting of all those individuals and entities tasked with meeting actual need. The "physical economy" consists of many of your customers including farmers, manufactures and electric companies. Our society needs people working in the "physical world" to create jobs more desperately than it needs the continuity of the CME. Must we endure another market catastrophe to figure this out? The 2008 bailouts defined “moral hazard,” as the socialization of losses due to over-leverage. MF Global consumers are currently subsidizing losses attributable to over-leverage and “innovation.” Perhaps, small percentage moves in speculation rationalized an internal choice between corporate survival and the sanctity of customer funds. Complexity has been specifically designed, by “modern finance” to intentionally allow over-leverage leading to out sized profits and reactively-subsidized losses. The word, “theft,” comes to mind. I believe that, the products traded by your member firms, at the CME exchange and elsewhere, well exceed the capacity of the monetary system to cover relatively small percentage losses or speculative miscalculations. Clearing OTC derivatives on an exchange does not, and will not, correct the problem. With repeal of Glass Steagall, and the conversion of mutual companies to publicly traded entities, meaningful regulation has proved to be politically impossible to recapture. The solution therefore resides in simplification from “innovative” towards “basic” finance. Presently, I would urge you to make MF Global customers whole as a perquisite to market reform towards a “utility function.” More than just the continuity of the CME may be at stake. Warren E. Pollock jessescrossroadscafe.blogspot.com GZ