October 2, 2010
The Dodd bill left out regulating the SP Futures Scam along with the pre and post market trading methods used to defraud the investing public. These large Hedge Funds and Wall Street Brokerage firms remain unchecked in manipulating the U.S. equity and commodity markets via the futures markets.
Why should the SP futures markets dictate the opening of our U.S. markets? Why should a pre-market trade of 1,000 shares in a stock that trades 50 million shares a day dictate the opening bid price of a stock? The low volume pre-market and after-market trade volume, coupled with the SP Futures market manipulation by large firms trading houses is manipulating our U.S. Markets discouraging investors to invest in the stock market and risking the retirement futures of millions of Americans.
Whats needed to stop the fraud and the market manipulation being carried out by this multi billion dollar hedge funds and brokerage firms:
1. Suspend all SP Futures and NYMEX Futures Market trading outside the hours of 9:30 a.m. and 4:00 P.M. (EST)
2. End all Pre and Post market manipulation and enforce trading only during market hours and let all traders small and large compete in the market during normal market hours. End the trading ahead of the market scam, caused by the low volume painting the tape (price), which is then broadcast by the Financial Media creating unneeded market manipulation.
3. Place FCC Laws banning firms from reporting any stocks pre-or post stock price if the volume is not equal to at least 10% of the stock normal trading volume
Americans are being defrauded by Wall Street crooks who have figured out how to game and manipulate the system by using technology and products such as the SP Futures and NYMEX Futures markets, along with pre and post trading, coupled with leveraging and communicating the scam to the investing public via mass media financial news networks. It all needs to end and the Securities Exchange Commission needs to be deemed a useless organization not fulfilling the needs of the investing public.