Happy Memorial Day From DTFL
As we take a day off to remember those who served our country I will not be doing the analysis since not only are most banks closed around the world but taking the time to remember that freedom doesn’t come free is most important about this day. Having said that is sure seems as there is much less freedom in the world even though there has been so many wars in recent years. Lets all take a moment to pause and think of those who have made he ultimate sacrifice for freedom because at the very least they thought they were doing the right thing even if they were tricked by a government with ulterior motives. May they all rest in peace and a very big thanks to the ones who have served and/or currently serve.
Im not going to leave our loyal members and readers of my commentary with only that to ponder today. Everyone who visits this site has either a suspicion or knowledge of how the big boys or even powers that be manipulate markets in their favor. Today I am going to share a Max Kieser episode from last week that sheds some light on something that even I didn’t want to believe. As we discuss in the live training sessions regularly it seems as though there is always somebody that gets word of a pending release long before the “official release”. Sure its probably easy to bribe somebody on the inside at the BLS or any of the other data providers because they are mostly private data companies and since we know that politicians frequently trade on inside information about companies or bills that will or wont pass that effect certain sectors or companies (yes its illegal now in the US but still open to any of their staff) it should be no surprise that people on the inside of data providers taking money for providing the large banks and institutions with an early copy.
My thoughts were that they most likely run a tighter ship at the Fed. As a recent study suggests I was totally wrong. Yes maybe I was just wish full thinking since we know that Jon Hilsenrath can write and print a 700 word article within 5 minutes of the Fed Meeting Minutes release. We know he gets an early copy. What is disturbing is that the study shows that somebody is also getting the Rate decisions as well. The only good thing I can say about this is at least we are enlightened and track these bums to make our living instead of fight them or get manipulated by them.
That and more about how the big banks crush viable businesses to make them self look solvent. Enjoy the video.
On a side note I closed the EUR/USD short I took just after the London training session closed for 65 pips Friday afternoon. It gave me the price (1.3684) I was looking for just as the room was closing. It took about 3 minutes after the room closed. I hope many of the members got a nice trade from it as well.
Have a great day.
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