Day trading course MF Global Futures says Sayonara as well as hundreds of investors who's deposits were used to cover Margin.
Just as we in the futures trading world thought we were safe from "Those Damn Bankers" but it seems many overlooked that Mr. Corozine was actually a previous president of the Notorious Goldman S. clan. Although Corozine was not running a high ranking government position he thought it would be OK to Embezzle funds owned by the firm's Clients. Maybe we might see a Goldman Sach's looter finally shackled for their use of clients funds in purchasing Italian Bonds."Italian Bonds"? - sounds like financial crack to most short term traders.
The thought that MF Global held 91% of it exposure in December Italian bonds and used clients money to cover the Margin is not only outrageous, but criminal. MR Global bought in to these highly leveraged bonds this summer and in a few short months have drained their clients "Capital Reserves". This could be foreshadowing of what is to come in Europe as Greece is in shambles, Italy and Portugal are in a neck and neck race down the toilet, and Spain is looking at a slide in their housing market and bonds. No wonder the risk off position is to sell the Euro.
Let's take a look at the S&P500 emini futures for today. We have already seen a sell off from the 1289 highs. This is the resistant long term trend line pointed out previously. On the After hours Daily chart we can see that the price has broken below the 200 MA in [...] day trading course
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