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>Some of you know that there has been a move afoot by the CFTC to
>regulate all individuals, businesses, developers, newsletters,
>subscribers, web sites and mailing list (including this one) that
>discuss matters pertaining to trading and futures.
>
I don't know about armchair investors and their mailing lists, but in my
opinion ANYONE accepting compensation for their "advise" or "market
opinion" "indicators" or "miracle trading system" should DEFINITELY be
required to pass the test and gain their registration. Why the hell NOT?
Also while we're at it, let's require those talking heads on cnbc to
register as well. After all millions of anxiety-ridden investors are
hanging on their every word, every day.
The net effect of all this is to create an endless stream of confusion and
uncertainty. In the end it causes nothing but HARM. The only people it
helps are the brokers, who thrive on the increased order flow. I would
estimate that less that 1% of the purveyors of market information actually
know what they're talking about, and have something to contribute which may
be in YOUR best interest, not theirs. So let's get rid of the rest, it
would be a tremendous improvement.
regards
phil (registered with the CFTC but will spare you my market opinion)
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