Unfortunately, trading this market--considering the present state of the market police force and the almost total lack of punishment for very grievous behavior by hundreds, if not thousands, of powerful participants during the last few years--requires us small-fry to accept a certain amount of "bending over".
In other words, the bar has been raised so high on what is considered illegal (or, dare we say it, criminal behavior), that a single-stock error effecting some day traders will be of little or no concern to the powers-to-be. If we wish to fight, we must pick our fights, and this COCO event is way to small to hope for any productive results from a legal action.
If we want to pick a fight, a good starting point might be to question why Goldman Sachs and all the others were let off with a fine that was almost laughable, relatively speaking, after literally taking billions from the pockets of average investors.
And keep your eyes peeled on the outcome of the latest investigation, that of the mutual fund industry. What will happen to those guys?...a slap on the financial wrist; da boyz told not to do any more boo-boo's again; another fine that will be paid out of petty cash. And with a hearty high-o-silver the folks in charge of the investigation will ride off into the sunset, exclaiming that the US financial dishes have once again gone from grease to shine.
Problem is, the bad guys are not really being made to pay, and until that happens, more bad guys are going to continue to pop up, and in ever increasing numbers.
Unless and until we re-engineer critical sectors of U.S. society, many millions of children will suffer needlessly--from my general and political commentary blog: www.thinkwecan.com
AI
