it happens everyday. Just looking at the volume patterns on the SPY tells me
someone is in the know, and someone has a lot of $$ to put on and take off trades
in a hurry just to headfake avid chart watchers.

Not only did they not care then but they still dont. Inside trading is still going on en masse and our government does nothing.

Quote:

one in particular (cough-Goldman-cough!)

Small typo.

August 17, 2007 signifies the day that free and open markets died in the U.S.
When the government becomes an accomplice to insider trading, you know that you officially live in a banana republic.

Perhaps the bezzle has to get so bad that foreigners refuse to invest in our markets due to the rampant corruption. In some African and Latin kleptocracies it's common knowledge that the ruling parties skim 10-20% off the top of every transaction. Our situation seems much worse ... Goldman Sachs and other insiders take 90% and leave a few crumbs for daytraders.

Yep. I felt like I was at the casino that day being fed a **** sandwich. It left a bad taste and I haven't been back since. I'll never get back into the market as long as I live unless this corruption stops, which I highly doubt. I think many of them are up there getting filthy rich with privy information at America's expense. Absolutely sickening. I have more words to put here but I self-edited them in the name of human decency.

I have seen blatant, outrageous insider trading ever since I started trading.

However, I have never seen anything nearly as blatant or outrageous as what I've witnessed since August of 2007, and there hasn't been a bit of slowdown in it either.

Disgusting is what it is,

Just as soon as I make back the money I lost on that OPEX, I'm pulling my funds out of the market.

Actually, you (and I) got cornholed w/ 45 minutes left to trade on THURSDAY because the market turned up over 300 points in 45 minutes (for no apparent reason).

I told everyone a month ago I pulled all of my money out of the market and I really did. I have not one dime in right now and I dont have it in any bank either. I dont even think this market is worth trading I feel as if I am endorsing criminal activity.

I still say that the "computer glitch" day in June 2007 marked the start of something that hasn't ever been fully explained or discussed.

THAT day was one of the most painful days I have ever has as a trader- and I have had quite a few. It wasn't just the financial loss that burned- the losses I more than was made up going forward.

I guess it was the feeling that we were played for chumps that day.

What first attracted me to Karl's site more than 2 years ago was an indignation that the playing field was becoming progressively "less level" over the last few years. I'm sure many others out there feel similarly.

This statement by Obama in his address to the UN today made me sick:

Developing nations must root out the corruption that is an obstacle to progress – for opportunity cannot thrive where individuals are oppressed and business have to pay bribes. That's why we will support honest police and independent judges; civil society and a vibrant private sector.

Obama tells other countries to root out corruption while he and his administration do NOTHING to stop the rampant and blatant corruption occuring within the US? Pathetic - do as I say not as I do.

Quote:

got literally corn-holed that morning

Sorry, but this is a pet peeve of mine. You were not literally corn-holed. What happened was blatent illegal insider trading that hurt you financially. It sucks, and we have all been there. However, the corn-holing was only figurative.

In the mid-1980s, the courts convicted, sentenced to jail and banned forever from financial trading 23 Wall-Street criminals including Michael Milken, and Ivan Boesky. All 23 were Jewish.

Milken admitted stealing about $400 million and Boesky about $100 million. These men were also paid huge bonuses by their employers. Milken’s bonus in one year was about $400 million, which he was paid for his boiler-house operation that sold bad junk bonds. Big bonuses for selling worthless securities: sound familiar? A leopard can't change his spots.

You cannot stop insider trading with laws and regulations anymore than you can stop the crack dealers in the ghetto. How do you stop one guy from passing a bit of information to a second? And how do you stop the second guy, or someone acting in his interest from acting on it? It can’t be done.

The Milken 23 received a few months in prison and paid big fines. But they all ended up filthy rich. Milken still is on the list of the richest men in America.

DoctorBob wrote..

All 23 were Jewish.

Oy veh! I knew it! Burn them!!!1