Thursday, May 13, 2010
Traders Audio from the Crash on May 6th
That's great audio from the futures trading pit at the Chicago Mercantile Exchange. The activity definitely cleared out some stops below and now the market should move to around 1300 before collapsing again. That's complete speculation on my part using a 68% Fibonacci retracement of the market move off the March 2009 lows. Of course Goldman Sachs has reported no losing trading days last quarter which is statistically impossible! Who says the market isn't rigged. You only have no losing trading days if you are holding a illegal competitive edge.