1) It's just not possible for someone trading out of their parent's basement to crash the most liquid futures market in the world. And in the remote chance it is, this is the CME's fault not the trader's.
2) If "layering" orders and canceling bids is illegal then you should round up half the position traders on the Street
3) An "old school" trader who had "always been good with his reflexes and doing things quick." cannot outwit HFT firms like Virtu which have a virtual monopoly on stealing spreads from the market. How exactly do regulators believe Virtu can go 1,000 days without incurring a net loss on a session? Not by losing money to nerds still living with their parents.
4) Anybody who is not a child realizes this is more about him telling the SEC to get fucked than it is about a trillion dollar crash in the market on the same day. Telling someone to get fucked is not illegal.
'As the report explains, this is the day that "represents how long Americans as a whole work into the year before they have earned enough money to pay all federal, state and local taxes for the year."
The national average is April 21 -- almost a week after the federal filing deadline,
Of course, your mileage may vary, even within these state-by-state figures. But you can get a rough idea how you fare against other people...
"Tax Freedom Day rankings square unsurprisingly well with overall measures of state and local tax burden," comments J.D. Tuccille at Reason. "The five highest taxed states, reports the Tax Foundation, are New York, New Jersey, Connecticut, California and Wisconsin.
Wyoming, Alaska, South Dakota, Texas and Louisiana are the least burdensome.
"Business tax climate also corresponds closely with Tax Freedom Day. The states least favorable to business are New Jersey, New York, California, Minnesota and Vermont.
By contrast, Wyoming, South Dakota, Nevada, Alaska and Florida hold the top spots."
Gundlach's presentation stating the S&P has never risen 7 years in a row - therefore presumably won't go up in 2015 and you should buy some more of his bond funds - has been getting some attention lately.
But in fact you only need to go back to the 1990's to discover that the return on the S&P was positive 9 years in a row.
Ironically enough for a bond manager, the King of Bonds no less, this is because Gundlach ignores the yield on the S&P.
Now I don't know whether the market is going up, down or sidewise this year. But the S&P dividend yield is higher than the 10-year right now, so I certainly wouldn't be buying what Gundlach is selling. Especially if it's secondhand, ugh.