Gutted
Dear Readers,
If you thought the Ron Paul’s Bill to audit the Fed that was working its way through Congress, and had HUNDREDS of sponsors, would make it without being molested by Chester the Molester, you’d still be one that is firmly ensconced in The Financial Matrix. You see, the Federal Reserve is the architect of The Financial Matrix and it will not allow an audit. Although there were HUNDREDS of sponsors of H.R. 1207, the Fed had it gutted. Whatever is left of the gutted carcass and is gleefully passed by the moronic rubes in DC will be nothing but rubbish.
If you don’t like what is left of H.R. 1207 don’t blame Ron Paul, blame Mel Watt.
From Bloomberg we read:
Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.
The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.
“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.
Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte , headquarters of Bank of America Corp., the biggest U.S. lender.
Trade well and follow the trend, not the so-called “experts.
Go to www.PitNoise.com for a trial
_________________________________________________________________________
Important: You are receiving this email because you requested more information from Larry Levin & Secrets of Traders.
If you no longer wish to receive Larry’s Daily Newsletter Commentary, you may opt-out at anytime by copying and pasting the link below into your browser:
https://larrylevin.infusionsoft.com/opt?o=0&i=3&e=ebe1aef1
Larry Levin
Secrets of Traders
The Chicago Board of Trading Building
141 W Jackson Blvd. Chicago, IL 60604
888-755-3846
312-235-2572
info@secretsoftraders.com
_________________________________________________________________________
Trading Results from Yesterday:
Electronic (ES) mini-SP 500
1) OTF buy @ 10:19am at 1055.00 = +.25 (1 lot)
2) Algorithm positions (11)
3) ”Reading the Tape” positions (12) …combined Secret’s, Algo, & “Reading the Tape” total…+17.75
_______________________________________________________________________________
Notes from the Pit…for 11-05-09
ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Seller
2) Range Extension Both
3) Public went home as a… Neither
4) Buying-Selling Tails Buyer
5) Open in Bull or Bear Range Neither
ATTEMPTED DIRECTION: Higher = Lower = Neutral=Yes
Comments: The attempted direction was neutral (#4 day) throughout this FOMC day-expected.
ATTEMPTED PERFORMANCE:
1) Today’s NYSE Volume compared to prior day & 10-day average.
Today (1.350 billion) Higher = Lower = Unchanged =XX
10-day Ave: (1.442 billion) Higher = Lower =XX Unchanged =
2) Value Area: Higher =XX OL/Higher= OL/Lower =
Lower = Inside= Outside =
3) VA Width: Wider = Narrower =XX Unchanged=
COMMENTS: The VA was higher but narrower with unch’d volume. Advancers vs. decliners was @ even. Attempted performance was mixed.
POTENTIAL RESULTS: Jobless claims data will be released 30-min before. The market is caught in the balance are until the monthly jobs data on Friday. Expect a fairly muted day.
Support = 1040.30, 1026.00, 1014.75
Resistance = 1058.00, 1064.00, 1069.00
Institutional support = none
Institutional resistance = 1083.00
Please use the pivot calculator in the “shared folder” for all of today’s pivots
_____________________________________________________________________________
Today’s Trading Tip:
If you don’t have enough money to start trading, it’s important that you don’t risk the “whole farm” and you start when the time is right!
_________________________________________________________________________
To read the Value Area Help Guide, please copy and paste this into your address bar:
http://www.secretsoftraders.com/ValueAreaHelpGuide.htm
To read about how I became a trader, please copy and paste this into your address bar:
http://www.secretsoftraders.com/who-is-larry-levin.shtml
To view my recent trading statements, please copy and paste this into your address bar:
http://www.secretsoftraders.com/secretRoomLogin.asp
To read about my intensive Training Programs, please copy and paste this into your address bar:
http://www.secretsoftraders.com/mentorship-programs.shtml
Secrets of Traders
The Chicago Board of Trading Building
141 W Jackson Blvd. Chicago, IL 60604
888-755-3846
312-235-2572
info@secretsoftraders.com
In an effort to comply with all applicable rules and regulations please be so kind and read the disclaimer below:
IMPORTANT NOTICE: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results.
DAYTRADING involves high risks and YOU can LOSE a lot of money. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those talked about in our site.
Leave a Comment