Fishing Expedition

Larry Levin's Daily Market Commentary

VIEW ONLINE

UPCOMING EVENTS

Fishing Expedition I hope you all had a safe and happy Fourth of July weekend.  As for many of the folks in Congress, I am sure they used this holiday to wax poetically about our freedom and the importance of upholding and defending the Constitution. That is of course if it doesn't apply to them. All too often we've seen how they belive that laws are very important, for everyone else, of course. Especially the kind of laws that prevent them from abusing their power to make money. From Reuters we learn A U.S. House of Representatives panel said on Friday it should not have to comply with a federal regulator's demand for documents sought for an insider-trading probe involving the staff director of a subcommittee and a lobbyist. Unfortunately this isn't the start of a bad joke. A staff director, a lobbyist and a Congressman walk into a bar...The article continues The House Ways and Means Committee argued in a court filing that U.S. District Judge Paul Gardephe in New York should deny the Securities and Exchange Commission's attempt to subpoena documents from the committee and its healthcare subcommittee staff director Brian Sutter. The SEC went to court June 20 to enforce subpoenas it issued as it sought information related to a probe into whether Sutter leaked material nonpublic information about Medicare reimbursement rates to Mark Hayes, a lobbyist at Greenberg Traurig LLP. The committee's filing called the SEC subpoena "a remarkable fishing expedition for congressional records." It said the U.S. Constitution shields the panel and Sutter from being compelled to testify or produce documents. A request for comment from the SEC was not immediately returned. The dispute between the House committee and the regulator could test the boundary of the SEC's powers to compel the legislative branch of government to cooperate with its enforcement of the federal securities laws. In previous court filings, the SEC said Hayes spoke with Sutter the same day that the Centers for Medicare and Medicaid Services announced reimbursement rates for the Medicare Advantage program. The regulator said Hayes then emailed the brokerage firm Height Securities, which shortly afterward sent its clients a "flash alert" suggesting the deal could help insurance companies such as Humana Inc (HUM.N) and Health Net Inc (HNT.N). Share prices of both companies jumped after the report was issued. But of course this is just a "fishing expedition." I'm guessing when the records are released, something rotten will be pulled up on the hook. Read Past Issues of Larry's Newsletters at TradeWithLarry.com

Coming off an abbreviated week of trading due to the holiday, we managed new all time highs in the DJI and SPX. With continual buying taking place, we could see a bit of a respite this week. With the FOMC meeting announcement due out this week, we could see the markets drift lower ahead of the meeting. The drop could be from profit taking early on, with sellers looking for short term gains. Look for pullbacks to take place in the recent momentum stocks, and see the market reaction off the news this week. . Read More

TECHNICAL DATA ES 1977.00/1972.50 POC 1974.25 YM 16979/16953 NQ 3912.50/3897.00

Many of our students'​ ​trading ​ ​accounts are held in some form of an IRA. Can they trade options? Certainly, but there are some limitations that must be taken into consideration. Let me first say that I am not a CPA and that you should consult your CPA and your broker for any tax related issues with your trading account. That being said, the first thing that you must keep in mind is that there is no 'current tax" for an IRA. The money is not taxed until the money is distributed and it is ​ ​then​ ​taxed as ordinary income. So, often times there is no difference between an IRA and a taxable account. For example, a common type of trade that an options trader will employ is the 'cash secured put". Read More

unsubscribe  |  update preference  |  visit website

Trading Advantage , all rights reserved 2014 ©

IMPORTANT NOTICE: The risk of loss in trading futures, options on futures, stocks and stock options can be substantial and is not suitable for all investors. Past performance is not necessarily indicative of future results. Trading Advantage LLC only provides educational services. By accessing any Trading Advantage content, you agree to be bound by the terms of service. Click here to review the terms of services. The hypothetical signal results shown above represent signals offered in real time in the training room. A signal does not get posted unless there is a reasonable likelihood that if an order had been placed it would have been executed. Further, adjustments are made to simulate the costs of commissions. Past performance is not necessarily indicative of future results. The posted information is shown for educational purposes only and no signal shown was actually executed as a trade. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those talked about in our site.

Copyright © 2014 Trading Advantage
Our address is 111 West Jackson Blvd, 1122, Chicago, IL, 60604, USA
 
If you do not wish to receive future email, click here.
(You can also send your request to Customer Care at the street address above.)