Live fast, die young and leave a good looking corpse was the mantra of the old rock and roll crowd. AlphaMetrix, a pool operator that seemed to follow that rule, was brought down by regulators after not paying traders or investors.
As AlphaMetrix closes its trading operations, the CFTC filed charges against the firm earlier this week alleging it had violated the Commodity Exchange Act. AlphaMetrix now is denying those charges as it cooperates with the Court.
Even the bulls are throwing in the towel, yet there may be signs that the crude collapse may slowdown just a bit. Still, oil is headed longer-term toward $88, a target we have had for weeks and now is looking more like we are going to be right on target.