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> I think every one should read the last article in the current
> Barron's P.55 I for one am sick of uncle sam and big brother. THERE
> IS NOT a CTA. type rule that
I was just reading that article not 10 minutes ago and figured it
would result in a barrage of emotional responses. Justifiably so
too. The CFTC most likely imagines itself as a latter day BATF or
FBI. Next thing you know they'll be conducting armed raids on major
commodity trading houses.
Well if they didn't have an enemy they couldn't justify their
existance could they?
I guess in the CFTC's view there are tens of thousands of suckers
buying into Get Rich Quick Futures Schemes and they need to be
protected. Heaven knows the professionals and serious traders are
*much* to smart to get sucked into bogus trading systems or empty
newsletters. Professionals research their markets and their tools
thoroughly right?
But why has only the CFTC become so impassioned? Options also
entail significant leverage and risk, and although the *real* risky
stuff (naked writes) are basically out of the hands of the little
guy, you would think that the same declaration of martial law would
have occured to the CBOE too.
The little guy is much more susceptable to get dragged into an
option trading scheme than they are some heating oil futures road to
riches although I may be wrong on this.
At any rate, its a disturbing article in that the CFTC seems to be
in clear violation of the First Amendment yet no one in the Justice
Dept seems to care. Maybe its tim eto start writing those
congress-critters.
- Hacker
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