A glimpse of what is going to happen to us (regular small traders - please do not take the "small" personally) and what are they planning to do in the future :
Worried that manipulated official data is the only thing one has to "predict" on a day to day basis in a world drenched with "Baffle with BS", where China expanding and contracting at the same time is perfectly normal, and where Chicago PMI soaring by an 8 sigma beat to multi year highs precedes by one day the lowest US manufacturing print in 4 years? Turns out that's not all - in addition to everything else, one should also realize that key market moving data continues to be disseminated ahead of its official release time to those who have the "funds" and the interest in trading on early leaks. Take today's key economic data point: the Manufacturing ISM. As Nanex shows, trading in SPY exploded at 09:59:59.985, which is 15 milliseconds before the ISM's Manufacturing number released at 10:00:00. Activity in the eMini (traded in Chicago), exploded at 09:59:59.992, which is 8 milliseconds before the news release, but 7 milliseconds after SPY.
Source : 15 Milliseconds Of HFT Fame: Watch Today's Early Leak Of The ISM Print
According to the Boston Globe, First Lady Michelle Obama and her daughters will stay on Martha's Vineyard for the summer. You can tell President Obama is getting a little defensive. When a reporter asked him about the trip, he said he had no prior knowledge of the vacation, he just learned about it from the media.
President Obama says he is renewing his efforts to close Guantanamo Bay. How about closing the IRS? Why don’t we do that? How about shipping the IRS to Guantanamo Bay?
This week President Obama is going to be engaged in high-level talks with the president of China. Yes, President Obama's message to China is going to be, "I swear we'll have the money for you by Tuesday."
More problems for the IRS. Isn't that the feel-good story of the year? They wasted $50 million over a two-year period on conferences and retreats for employees. They even spent $11,000 on a happiness expert. I have an idea how to make them happier. How about stopping making everybody else's life miserable? Start with that!
what came first...chicken or the egg???
IRS executive Lois Lerner has refused to quit and will collect her full pay and benefits while on administrative leave. They asked her to resign. She refused to go. Where in the real world does that ever happen? You get fired and you tell your boss, "I'm going to stay, and I want my money." And you wonder why we're $16 trillion in debt.