The many faces of Sybil

Apparently now the feds have decided to force brokers and other advisers to act as "fiduciaries" or actually in the best interests of clients http://bit.ly/z24ZA . Previously most commission based brokers although now called advisers are held only to a suitability standard, for example don't pitch Chinese solar stocks to widows and orphans. On the surface sounds great no? Essentially it is a bunch of rubbish. Without a doubt it would nullify much of the rubbish put forth from the financial advice cartel. Under the guise of "you cannot get sued for doing nothing," this will further duilute down anythng offered out of the financial advice machine to the point of putting forth little more than index funds, for a giant fee albeit. The trend of the last 5 or more years out of the financial advice mafiaso, is to have fewer advisers with gargantuan asset bases, operating on volume and low margins. This type of regulation I feel will further exaceberate that distressing trend. I am of the firmest opinion that to have even the slightest chance of success investing in the next 10yrs years will require advisers to actually ADVISE, shocking as that may seem. The utmost in creativity, activity and alternative thinking should be the order of the day. Herding investors of every stripe and color into the blandest cookie cutter products is a recipie for a lost TWO decades at best. A for effort Washington, D- for execution.

Quadruple witch Friday, one of my favorite days in the market, for doing absoluteley nothing. Sensless volatility will rule the day. My gun to the head guess is we jam the ES to about 923 to shake out any shorts, run it back down to about 911 and close flat at 915. As of this am we are doing exactly that. I think we have a date with 875 for the broad index in the nearest future, let us see how it plays out. Good Trading!