1. I was told recently that I am a completely negative person. My riposte:
This post will indeed be completely negative/unpleasant. Horrifically so. If you don’t want to read negative things and the picture of the super-cute kitty cat made you chuckle, just stop here.
2. First, there is scuttlebutt going around that, according to a lawsuit that has been filed in U.S. District Court in Northern Illinois, fully half of all futures trades in Chicago are illegal wash trades executed by the High Frequency Trading Algorithms. A wash trade is when the buyer AND seller in a given transaction are the same entity. Just SLIGHTLY illegal. Lilbit.
I don’t know how for-real the people behind this lawsuit are, but I do know that the markets, both futures and stocks, have been total shams for quite some time now.