الفوركس التداول الطويل الأطر الزمنية الكربون

إطارات زمنية متعددة يمكن مضاعفة الإرجاع من أجل كسب المال باستمرار في الأسواق، يحتاج التجار لمعرفة كيفية تحديد الاتجاه الكامن والتجارة حوله وفقا لذلك. وتشمل كليتشس المشتركة: التجارة مع هذا الاتجاه، لا محاربة الشريط والاتجاه هو صديقك. ويمكن تصنيف الاتجاهات على أنها أساسية ومتوسطة وقصيرة الأجل. ومع ذلك، توجد الأسواق في عدة أطر زمنية في وقت واحد. وعلى هذا النحو، يمكن أن تكون هناك اتجاهات متضاربة داخل مخزون معين تبعا للإطار الزمني الذي يجري النظر فيه. ليس من المألوف أن يكون السهم في اتجاه صعودي رئيسي في حين يجري غارق في الاتجاه الهبوطي المتوسط ​​والقصير الأجل. عادة، التجار بداية أو المبتدئين قفل في إطار زمني محدد، وتجاهل الاتجاه الأساسي أقوى. وبدلا من ذلك، يمكن للمتداولين أن يتداولوا الاتجاه الأساسي ولكنهم يقللون من أهمية تنقيح مدخلاتهم في إطار زمني قصير الأجل مثالي. اقرأ القراءة لمعرفة الإطار الزمني الذي يجب عليك تتبعه للحصول على أفضل نتائج التداول. (للاطلاع على القراءة الخلفية، انظر أربعة آراء حول أداء السوق.) ما هي الأطر الزمنية التي يجب تتبعها القاعدة العامة هي أنه كلما زاد الإطار الزمني، كلما كانت الإشارات الأكثر موثوقية تعطى. كما كنت انتقل لأسفل في الأطر الزمنية، والرسوم البيانية تصبح أكثر تلوثا مع التحركات والضوضاء كاذبة. من الناحية المثالية، يجب على التجار استخدام إطار زمني أطول لتحديد الاتجاه الأساسي لأي ما يتم تداوله. (لمزيد من المعلومات عن هذا، انظر الاتجاهات القصيرة والمتوسطة والطويلة الأجل.) وبمجرد تحديد الاتجاه الأساسي، يمكن للمتداولين استخدام إطارهم الزمني المفضل لتحديد الاتجاه المتوسط ​​وإطار زمني أسرع لتحديد الاتجاه قصير الأجل . بعض الأمثلة على وضع أطر زمنية متعددة في الاستخدام هي: تاجر سوينغ. الذي يركز على الرسوم البيانية اليومية لقراراته، يمكن استخدام الرسوم البيانية الأسبوعية لتحديد الاتجاه الأساسي و 60 دقيقة الرسوم البيانية لتحديد الاتجاه على المدى القصير. يمكن للتداول اليومي أن يتداول على الرسم البياني لمدة 15 دقيقة، ويستخدم الرسوم البيانية لمدة 60 دقيقة لتحديد الاتجاه الأساسي وخريطة خمس دقائق (أو حتى مخطط الرسم البياني) لتحديد الاتجاه على المدى القصير. يمكن للتداول على المدى الطويل التركيز على الرسوم البيانية الأسبوعية أثناء استخدام الرسوم البيانية الشهرية لتحديد الاتجاه الأساسي والرسوم البيانية اليومية لصقل الإدخالات والمخارج. اختيار مجموعة من الأطر الزمنية لاستخدام فريدة من نوعها لكل تاجر الفردية. ومن الناحية المثالية، سيختار التجار الإطار الزمني الرئيسي الذي يرغبون فيه، ثم يختارون إطارا زمنيا أعلى وأدناه لتكمل الإطار الزمني الرئيسي. على هذا النحو، فإنها سوف تستخدم الرسم البياني على المدى الطويل لتحديد الاتجاه، الرسم البياني على المدى المتوسط ​​لتوفير إشارة التداول والرسم البياني على المدى القصير لصقل الدخول والخروج. ومع ذلك، فإن ملاحظة التحذیر ھي عدم الوقوع في ضجیج الرسم البیاني قصیر المدى وتحلیل التجارة. وعادة ما تستخدم المخططات قصيرة الأجل لتأكيد أو تبديد فرضية من المخطط الأساسي. مثال التجارة بدأت شركة هولي (المدرجة في بورصة نيويورك تحت الرمز: نيس: هوك) الظهور على بعض شاشات الأسهم لدينا في وقت سابق من هذا العام، حيث اقترب من أعلى مستوى له منذ 52 أسبوعا، وكان يظهر قوة نسبية مقابل الأسهم الأخرى في قطاعه. كما ترون من الرسم البياني أدناه، فإن الرسم البياني اليومي يظهر نطاق تداول ضيق جدا يشكل فوق المتوسط ​​المتحرك المتحرك لمدة 20 و 50 يوما. كما كشفت فرق البولنجر عن انكماش حاد بسبب انخفاض التقلب وتحذير من ارتفاع محتمل في الطريق. لأن الرسم البياني اليومي هو الإطار الزمني المفضل لدينا لتحديد الصفقات سوينغ المحتملة، فإن الرسم البياني الأسبوعي تحتاج إلى استشارة لتحديد الاتجاه الأساسي والتحقق من محاذاتها مع فرضيتنا. كيفية تداول الأسهم باستخدام إطارات زمنية متعددة أبحث في أطر زمنية متعددة يمكن تعطيك فكرة أفضل عن ما يحدث مع الأسهم. بالنسبة للتداول البديل، يمكننا كسر هذا إلى 4 فترات زمنية: يوميا، أسبوعيا، 60 دقيقة، و 5 دقائق زمنية. النظر إلى الأسهم من خلال إطارات زمنية مختلفة يمكن أن يكون مربكا إذا كنت تاجر جديد. لماذا لأن كل إطار زمني يبدو مختلفا قد تبدو الأسهم كبيرة على الرسم البياني اليومي، ولكن تبدو رهيبة على الرسم البياني 5 دقائق. وانا ذاهب لمحاولة ببساطة على هذه الصفحة ولكن إذا نظرنا في كل هذه الأطر الزمنية متعددة مربكة هيك من أنت، ثم توقف. مجرد عصا مع الرسم البياني اليومي والساعة (60 دقيقة) الرسم البياني. يول على ما يرام. الإطار الزمني اليومي هذا هو المكان الذي سوف تنفق معظم وقتك كمتاجر سوينغ. عند تشغيل عمليات المسح الضوئي. يتم تشغيلها من الرسم البياني اليومي. هذا هو المكان الذي سوف تسعى لإيجاد فرص التداول. يجب أن يعود الرسم البياني اليومي من 5 إلى 7 أشهر أو أكثر. كنت تريد أن تظهر ما يكفي من البيانات بحيث يمكنك العثور على الدعم ومقاومة نقاط. تذكر أن كل شمعة تمثل يوم واحد من التداول. هنا مثال باستخدام كق. ومن الواضح أن المخطط الخاص بك سيكون أكبر بكثير من هذا. جعلها تملأ الشاشة بأكملها. كلما كان ذلك أفضل. كنت لا تزال ترغب في الحصول على فكرة ما يبدو الاتجاه على المدى الطويل. هذا هو المكان الذي يأتي فيه الرسم البياني الأسبوعي. الإطار الزمني الأسبوعي فكر في الرسم البياني الأسبوعي كإطار زمني يسمح لك بالتراجع إلى الوراء والحصول على نظرة على الاتجاه على المدى الطويل. يمكنك فقط تناسب الكثير من البيانات على الرسم البياني اليومي لذلك فمن الصعب أن نرى ما يجري حقا مع الأسهم. على الرسم البياني الأسبوعي، كنت تريد أن ترى أن السهم في الاتجاه الصعودي وإذا كان هناك أي أنماط المخطط كبيرة. يستخدم العديد من المستثمرين والتجار المؤسساتيين هذا الإطار الزمني لاتخاذ قرارات الشراء والبيع. لذلك اسأل نفسك، إذا كنت لهم، وأود أن شراء الأسهم الآن هنا مثال باستخدام نفس الرسم البياني (كق): يمكننا أن نرى من هذا الإطار الزمني الذي كق شكلت قاع مزدوج لم نتمكن من رؤية ذلك على يوميا الرسم البياني لأنه لم يكن هناك ما يكفي من البيانات. ولكن، من خلال النظر في الرسم البياني الأسبوعي، قد نكون أكثر صعودا قليلا الآن أننا نعرف أنها شكلت هذا النمط. في هذا الإطار الزمني، يمكنك العودة سنتين أو ثلاث سنوات (كل شمعة تمثل أسبوع واحد من التداول). هناك حقا أي سبب للعودة إلى أبعد من ذلك للتداول سوينغ. و، أنت لا تحتاج لقضاء الكثير من الوقت في هذا الإطار الزمني. بعد كل شيء، كنت تاجر البديل الذي يحمل فقط الأسهم عادة لبضعة أيام. الإطار الزمني لمدة 60 دقيقة فكر في الرسم البياني 60 دقيقة (كل ساعة) وكأنك كنت الخروج من زوج من مناظير وتحليل ما يجري مع الشموع الفردية على الرسم البياني اليومي. عندما تشتري التراجعات اليومية مع قمم منخفضة متتالية (المراكز الطويلة)، سترى أن السهم في اتجاه هبوطي على الرسم البياني لمدة 60 دقيقة. كنت تبحث عن كسر هذا الخط الاتجاه في هذا الإطار الزمني. عندما تقول، إل شراء عندما يتداول السهم فوق ارتفاع السابق، ما تفعله حقا هو شراء هذا كسر خط الاتجاه على الرسم البياني 60 دقيقة. هنا مثال باستخدام كق مرة أخرى: يجب أن يعود الرسم البياني لكل ساعة إلى 15 إلى 20 يوما (كل شمعة تمثل ساعة واحدة من التداول). يمكنك أن ترى أنه من خلال تحليل هذا الإطار الزمني، فمن الأسهل أن نرى (وربما توقع) كسر خط الاتجاه. وأحيانا، سترى مخزونا للأسهم في هذا الإطار الزمني الذي قد لا يلاحظ على الرسم البياني اليومي. والآن حان الوقت لدخولك. الإطار الزمني 5 دقائق هذا هو المكان الذي سوف تحصل على دخولنا. حتى الآن، لقد وجدنا الإعداد كبيرة على الرسم البياني اليومي. نحن فحص الأسبوعي لأنماط الرسم البياني والتأكد من أن السهم في اتجاه صاعد. قمنا بتكبير باستخدام الرسم البياني 60 دقيقة ومشاهدة لكسر من خط الاتجاه هذا. لقد اتخذنا قرارنا بأننا بصدد شراء السهم. يتم استخدام الإطار الزمني خمس دقائق لشراء الأسهم بأفضل سعر ممكن. كنت حقا لا تحتاج لقضاء الكثير من الوقت في تحليل هذا الرسم البياني. مجرد إلقاء نظرة على الأسهم التراجع إلى منطقة الدعم (على الجانب الطويل) للحصول على سعر الدخول الخاص بك. بسيط. تحتاج فقط للنظر في الرسم البياني 5 دقائق مع بيانات الأيام الحالية (كل شمعة تمثل خمس دقائق من التداول). الإطار الزمني 15 دقيقة هناك إطار زمني واحد آخر مفيد. هذا هو الرسم البياني 15 دقيقة. لماذا تنظرون إلى هذا الإطار الزمني لأن في بعض الأحيان، فإن المتداولين اليوم جعل الرسم البياني 5 دقائق تبدو قذرة باستخدام الرسم البياني 15 دقيقة يمكن أن يزيل السلبيات التي تظهر على الرسم البياني 5 دقائق. قد تقرر حتى استخدام الرسم البياني 15 دقيقة بدلا من المخطط 5 دقائق. نصائح التداول كل إطار زمني يؤثر على الآخر. ويؤثر الحدث الإخباري على الرسم البياني خلال اليوم (5 دقائق). هذا يؤثر على الرسم البياني لكل ساعة، مما يؤثر على الرسم البياني اليومي، مما يؤثر على الرسم البياني الأسبوعي. قد تكون قادرا على الحصول على دخول أفضل مع تشديد وقف الخسارة النظام باستخدام الرسم البياني 60 دقيقة بدلا من الرسم البياني اليومي. استخدام 200 سما في جميع الأطر الزمنية - حتى على الرسوم البيانية خلال اليوم. سوف يفاجأ أن نرى كيف تتفاعل الأسهم عندما تقترب من هذا المتوسط ​​المتحرك تحليل مختلف الأطر الزمنية المتعددة يمكن أن تحسن نجاحك كالتاجر البديل. ومع ذلك، سوف نادرا ما تجد مخزون تبدو مثالية تماما على الأسبوعية، والرسوم البيانية اليومية، وخلال اليوم. هدفك الرئيسي هو تحديد مجالات الدعم والمقاومة التي يمكن أن تؤثر على الأسهم في ذلك الإطار الزمني. المهم أن نتذكر هو اختيار الفترة الزمنية الرئيسية الخاصة بك ثم ننظر في إطار زمني فوقه، والإطار الزمني أدناه. الإطار الزمني الأدنى يخبرك بما يحدث الآن والإطار الزمني العالي يخبرك ما يمكن أن يحدث في المستقبل. في هذا الفصل سوف أشرح العملية التي تجري قبل تحريك الموقف. اسمحوا لي أن أشرح ذلك قليلا: وظيفة التاجر مماثلة لتلك التي من المخبر. قبل القفز إلى العمل، وهذا يعني الدخول في التجارة في حالة التاجر أو القبض على المشتبه به في حالة المخبر، هناك وظيفة طويلة من التحقيق، استنشاق حولها، النظر في فرضية مختلفة، وتحليل الأدلة، وما إلى ذلك تماما كما المخبر لا تحصل تماما هناك للقبض على أول المشي الشعبي من قبل، تاجر لا سحب تماما الرسم البياني ويدخل موقف على الفور. وكما قلت من قبل، هناك الكثير من الأشياء التي يجب القيام بها قبل ذلك، وهذا بالضبط ما سأشرحه في هذا الفصل. لذلك، هذا هو نظام متابعة الاتجاه، والحق لطيفة، لطيفة، ولكن كيف بالضبط نحن تحديد ما إذا كنا في سوق تتجه أم لا، بعض الناس استخدام خطوط الاتجاه، والبعض الآخر يعتمد على بولينجر باندز، والبعض الآخر ينظر في أدكس مؤشر، الخ. كل تاجر له الرصاص. أنا شخصيا استخدام ما أسميه ثلاثة الاتجاه المتوسط ​​المتحرك نقل بسيطة. الذي يبدو مفردا جدا ولكن في جميع الإنصاف لها بسيطة جدا: الاستيلاء على الرسم البياني العادي خالية من أي مؤشر، خط الاتجاه أو أي شيء آخر ومؤامرة ثلاثة تتحرك المتوسطات. 30 المتوسط ​​المتحرك البسيط للإغلاق (سما الآخرة)، 50 سما و 100 سما. كل ما يمكنني استخدامه لتحديد الاتجاهات. الآن، إلقاء نظرة على الرسمين التاليين: بغض النظر عن سما، من الواضح أن الرسم البياني الأول يتحرك في اتجاه صعودي واضح في حين أن الرسم البياني الثاني يتحرك جانبيا. عادل بما فيه الكفاية، لا تحتاج إلى المتوسطات المتحركة لمعرفة ذلك. لذلك، ماذا نحتاج إلى 3 سما ل ثم لأنها توفر لنا معلومات لا تقدر بثمن حول الصحة العامة للاتجاه. لكنني أتوقع نفسي هنا. أولا وقبل كل شيء، يرجى مشاهدة الفيديو التالي حول مفهوم 3 سما وقواعدها، وسوف نناقش في وقت لاحق. وأنا أدرك أنه في البداية قد تشعر بالقلق من كوتون-ترينكوت عقلك والتبديل من الرسم الاتجاه إلى سما الاعتماد، ولكن مع مرور الوقت ومع قليل من الممارسة سوف ندرك قريبا كيف من السهل تماما هو لصحة جيدة تتجه المخططات. أيضا، وأنا أعلم أن الشرط 6 (التوافق سعر يتأرجح متناسق قبالة المنطقة بين سما 3050) قد لا تكون بديهية وسهلة ل غاسب كما في الشروط الخمسة الأخرى. ولهذا السبب لقد قررت توسيع هذا الموضوع أكثر قليلا في التفاصيل، لذا يرجى مشاهدة الفيديو أدناه لمزيد من التبصر حول هذا الموضوع شعر. حسنا، قد أن مسح الأمور قليلا لذلك، كيف يمكن 3 سما تريند تصفية تساعدنا على تحديد الصحة العامة للاتجاه حسنا، كما رأينا على شريط الفيديو، كيف يمكن أن تتطور حركة السعر في العلاقة مع سما يمكن أن تساعدنا في هذه المسألة. ولكن اسمحوا لي أن أحفر في هذا الموضوع بالتفصيل: 1) إذا كان العمل السعر خلال جلسات التداول الماضية بقي معظم الوقت في الجانب الأيمن من 50 سما (أعلاه إذا كان في اتجاه صعودي أو أقل إذا كان في اتجاه هبوطي)، ثم نحن يمكن أن يفترض بأمان أن الثيران هي المسؤولة بقوة عن الاتجاه الصعودي (أو الدببة في حالة وجود اتجاه هبوطي). على العكس من ذلك، إذا كان السعر يتسلل صعودا وهبوطا على طول 50 سما، يمكننا أن نفترض أن الاتجاه يفتقر إلى قوة الحصان اللازمة لبعد نفسها بعيدا عن 50 سما. إلقاء نظرة على الفيديو أدناه: ترى على الرغم من أننا كنا في اتجاه صعودي واضح مما يجعل أعلى مستوياته وأعلى مستوياته المنخفضة، حافظ السعر على الغوص تحت 50 سما بعناد جدا مرارا وتكرارا في كل تتبع. ليس ذلك فحسب، ولكن أيضا كل تعقب لاحق أظهرت دنت أكبر في 50 سما. تذكر القياس على الفيديو: كنت لا تريد أن الفوضى كثيرا مع 50 سما 50 سما مثل القط: يمكنك أن تلعب معها هنا وهناك بطريقة خفيفة، ولكن إذا كنت تبقي إغاظة وسحب ذيله، عاجلا أو آجلا سوف تحصل خدش. بطريقة ما، 50 سما يشبه مستوى 61 فيبوناتشي: عندما ترى أن تعقب هو حفر لهم، ورفع الحاجب الخاص بك وتأخذ لحظة لإعادة يقوي قوة الاتجاه. أخلاق القصة: كما أشير في الفيديو، ثقب سريع على 50 سما على ما يرام طالما أنه لا يحدث في كثير من الأحيان و فقط لبضع نقاط و لفترة وجيزة. عندما تبدأ في إغلاق أشرطة متعددة أدناه، دع جرس التنبيه يحذرك مسبقا من أن الاتجاه قد يفقد البخار. 2) انتهاك 100 سما هو أفضل تحذير يمكن أن تحصل على أن ذهبت إلى حالة ديفكون-5 والسوق قد يكون تبديل التروس. أنا لا أهتم إذا، في الاتجاه الصعودي، يمكنني رسم عشرات خطوط الاتجاه كلها تشير صعودا - إذا تم اختراق 100 سما من خلال ذلك يعني أن الدببة تقاتل الثيران مرة أخرى في الغضب. مجرد المضي قدما ورسم 100 سما في أي مخطط تتجه وسترى أنه من أجل طعنة 100 سما، السعر يجب أن تقطع شوطا بعيدا عن الاتجاه يتجه يتجه الأرثوذكسية، وربما كسر واحد أو اثنين من خطوط الاتجاه في هذه العملية. أنا لا يمكن أن تجعل من أي أشخاص واضحة: إذا تم اختراق 100 سما، والاتجاه يتعرض للخطر بشكل خطير. البقاء في الوقت الراهن. بعد الفقرة التالية يمكنك مشاهدة فيديو حول هذا الموضوع. 3) التماثل سما: عندما سما موازية لبعضها البعض، مؤشرا واضحا على أن معنويات السوق هي عموما في الاتفاق من حيث السعر يجب أن يتجه إلى. وبمجرد أن ترى سي إم إس تعبر بعضها البعض، على الأرجح أن 30 سما (الأسرع من كل ثلاثة) عبور 50 سما (ثاني أسرع)، يعتبر ذلك بمثابة تحذير مبكر أننا قد تدخل إما وقت التوحيد أو مجرد تغيير في الاتجاه تماما. تماما كما طعن 100 سما يرفع العلم الأحمر، لذلك لا كروس سما. إذا قمت باتباع إعداد لإدخال ولكن عند تعقب، 30 سما عبر 50 سما، يجب أن تكون منضبطة بما فيه الكفاية لإسقاط والبحث في مكان آخر. ليست هناك حاجة لدخول ثاني أفضل اللاعبين الاجهزة، وهناك الكثير من الفرص الصالحة في السوق. لا تخافوا أو حزينة للسماح الإعداد واحد يذهب إذا كان كل البط لا تقع في الخط. الآن يتيح مشاهدة الفيديو التالي حول كيفية انتهاك انتهاك سما 100 أو كروس أوفر 3050 يحذرنا مسبقا من أن هذا الاتجاه قد يتعرض للخطر. يرجى الناس، من أجل سلامة التداول الخاصة بك، والاستماع إلى السوق و سما، أنها تحذرنا عن معنويات السوق بشكل عام. أنت لا تحتاج إلى مؤشرات معقدة أو أنظمة التكنولوجيا الفائقة لتكون قادرة على قراءة الاتجاهات. تحتاج فقط ثلاثة خطوط سخيفة، والاستماع بعناية إلى ما يحاولون أن أقول لك. 4) مجال الدعم الديناميكي والمقاومة (وليس حقا تمد، ولكن على أي حال): لا يمكنك أن نعتقد مدى قوة الفرقة بين 30 سما و 50 سما هو عندما يتعلق الأمر إلى عقد ريتريسس في سوق تتجه. لها مثل المنطقة بين 38 و 61 فيبوناتشي يتراجع: معظم ريتراسيس في الاتجاه السليم تقع في تلك المنطقة. هل تعرف لماذا 30 سما و 50 سما تعمل مستويات الدعم في الأسواق تتجه موافق، هنا يذهب سر كبير: لأن اللاعبين كبيرة تتحرك حجم التداول الهائل (مديري الصناديق والتجار في البنوك الاستثمارية، الخ) استخدامها أنفسهم لوضع أوامر الحد في السوق. كيف أعرف أن مدير الصندوق نفسه أخبرني بذلك قبل بضع سنوات. الآن، يمكن أن تساعد هذه المنطقة أيضا لنا تحديد صحة أو الكمال من الاتجاه. دعونا نفترض أننا في الاتجاه الصعودي، مع سعر يسجل أعلى ارتفاع يتأرجح يترتب عليه وارتفاع أعلى تعقب. على ما يرام، إذا كانت تلك المتداعيات منخفضة كذاب قبالة منطقة سما 3050، أو على الأقل معظمهم، ثم نحن في سيناريو تتجه الكمال. من ناحية أخرى، إذا كان أدنى مستوى للمتقاعدين حتى لا تلمس 30 سما، قد نكون في سوق مفرط الزخم مع درجة عالية من النشوة شراء، وهو أمر خطير دائما لأنه عندما يحدث سقوط في نهاية المطاف (وسوف يحدث ، ثق بي) ​​ستكون حادة جدا والرأسي. من ناحية أخرى، إذا تراجع يتراجع بشكل منتظم دون 50 سما بهامش جيد، وربما حتى يقترب من 100 منطقة سما، وهو عرض واضح أن الثيران لا يمكن أن تعقد تماما الدببة يعود الثيران هي في الواقع في تهمة، ولكن الدببة هي دون وسم، على فضفاضة ويمكن استعادة السيطرة على الوضع في أي وقت. يتيح الآن مشاهدة لي تتعثر على حول المنطقة الشهيرة من الدعم الديناميكي والمقاومة قد مسح الأمور حتى قليلا. حسنا، الآن نحن نفهم ما هو 3 سما تريند مرشح حول وكيفية استخدامها من أجل تحديد ما إذا كنا في سوق تتجه صحية أم لا. جيد، ما هي هيكتور حسنا بعد ذلك، سنقوم الآن بتطبيق 3 سما تريند فيلتر على الرسوم البيانية الحقيقية من أجل اختيار أول اختيار من أزواجنا، وهذا يعني أن الرسوم البيانية سوف نراقب لجلسة التداول القادمة. اختيار أزواج هو نجاح اختيار إعدادات التداول التي قد أجد مناسبة للتداول من 3 سما الاتجاه تريند مرشح. كل صباح مشط من خلال 28 أزواج العملات المختلفة من أجل معرفة أي منها تظهر الظروف المناسبة للبحث عن فرص التداول. وعلاوة على ذلك، أنا أيضا مسح تلك أزواج العملات في أطر زمنية مختلفة لأن ما قد تبدو بمثابة مخطط نطاق ملزمة في الرسم البياني اليومي، قد تبدو كذلك تتجه في الإطار الزمني 1 ساعة. أنا شخصيا اتبع 28 أزواج العملات في 4 إطارات زمنية مختلفة لكل منهما. ثاتس 112 مجموعات أو 112 مخططات مختلفة. يمكنك دائما العثور على عدد قليل من الرسوم البيانية من تلك 112 مع سما تلبية جميع الشروط، وبالتالي على استعداد ليتم تداولها، أو على الأقل على استعداد للبحث عن إدخالات. ولكن هيكتور، كم من الوقت يأخذك إلى مشط من خلال 112 الرسوم البيانية المختلفة كل صباح. بين 30 إلى 40 دقيقة. كيف يمكن ذلك اسمحوا لي أن أقول لك سر آخر: لدي بلدي مؤشر مخصص الشخصية ترميز بنفسي أن يقول لي في كل لحظة أزواج العملات وفي أي إطار زمني تظهر سيماس الوفاء الشروط 6 شرحت قبل على الفيديو الأول من هذا الفصل اسمحوا لي أن تظهر لك شريط فيديو عن كيفية عمل المؤشر. لا تقلق، في غاية البساطة في عملها ولكن إرسالها الله لأنه يقلل من الواجبات المنزلية قبل التداول قدرا كبيرا. ترى أساسا، وأنا سحب بلدي مؤشر الاتجاه لوحة التحكم المسح الضوئي، ثم أنا يدويا التحقق من تلك الصلبان العملة تظهر إما مربع أخضر أو ​​أحمر على لوحة القيادة، وأخيرا أنا الكرز اختيار أربعة أو خمسة أفضل منها تبحث وفقا ل 3 سما الاتجاه تصفية الظروف، خندق كل ما تبقى، وبالتالي وجود بلدي الأولي اختيار أزواج لهذا اليوم مع حفنة من الاجهزة تظهر امكانات عالية من إعطاء تجارة مربحة. يمكنك تنزيل مؤشراتي المخصصة لمنصة ميتراترادر ​​4 في الفصل المرفق من هذا التداول. حتى الآن لدينا اختيار أفضل يبحث أزواج والأطر الزمنية في السوق لجلسة التداول القادمة. الخطوة التالية هي التحقق من أن هذه الأزواج التي تم اختيارها في المرحلة السابقة لا تجد أي عائق من الأطر الزمنية الأطول التي قد تتحول بطن التجارة لدينا. والسبب في سبب التحقق من الأطر الزمنية الأطول هو أن الأطر الزمنية الأطول عادة ما تكون أكثر أهمية من الأطر الزمنية الأقصر. وهذا يعني أنه إذا كان لدينا تحيز متضارب على إطارين زمنيين، فإن الإطار الزمني الأطول يسود عادة. خط الاتجاه في الرسم البياني للساعة يحمل وزن أقل من خط الاتجاه على الرسم البياني اليومي يجب أن تتصادم على بعضها البعض في اتجاهات متعاكسة. على سبيل المثال، دعونا نفترض أن نجد اتجاها صعوديا جميلا على زوج عملات معينة في الإطار الزمني لمدة 4 ساعات مع كل سما التي تقع في مكان وينبغي أن، ولكن نحن على وشك إعادة اختبار أعلى مستوى في السنة السابقة كما هو مبين في الرسم البياني اليومي أو حتى الأسبوعي. حسنا، قد نرى ترتد من هذا المستوى، وبالتالي وقف الاتجاه الصعودي لمدة 4 ساعات إلى التوقف. في نهاية اليوم، كان هذا المستوى قد عملت بالفعل كمقاومة في الماضي، فلماذا لا يمكن أن تفعل ذلك مرة أخرى يكون أفضل آمنة من الرجال آسف، لذلك إذا كان عند التحقق من المخططات على المدى الطويل ترى إشارات متضاربة إلى الاتجاه المطلوب، من الأفضل أن تمر على هذا الإعداد في الوقت الحاضر. لذلك أساسا ما سوف نبحث عنه في الأطر الزمنية الأطول هي مستويات الدعم، خطوط الاتجاه، هايلو السابقة سوينغ، أو أي عنصر آخر من التحليل الفني القادمة ضد اتجاهنا، وإذا وجدنا أي شيء كبير بما فيه الكفاية أننا سوف خندق اقامة تماما . وبمجرد أن نتحقق من أن أزواجنا المختارة لا تظهر أي إشارات متناقضة من المخططات الأطول للإطار الزمني، قم بتدقيق نفسك في الخلف لأن التهاني لديك لديك قائمة المراقبة النهائية ليومك الجاهز للتداول كما أقول دائما، كل شيء عن شراء الدعم وبيع المقاومة. ثاتس جوهر ذلك. حتى الآن لدينا لدينا قائمة المراقبة جاهزة، ونحن نريد أن نعرف على ما مستوى الدعم الدقيق الذي نريد لشراء من أو المقاومة التي نريد بيعها من. منذ شراء الدعم (أو بيع المقاومة) نريد أن يكون لدينا العديد من عناصر الدعم (أو المقاومة) معا في مساعدتنا. ما أتحدث عنه هنا هو مستويات التقاء الدعم. وهذا مفهوم حاسم يتطلب مزيدا من التفصيل. مستوى من التقاء، يتيح تفترض الدعم على سبيل المثال، هو مستوى حيث يأتي عدد من عناصر الدعم معا في بضع نقاط من بعضها البعض. وكلما ازدادت العناصر كلما زاد كل منهما قوة أكبر لهذا المستوى. وهنا يماثل القياس: في لعبة كرة القدم، كلما زاد عدد اللاعبين المختلفين في دفاعك، كلما كان من الصعب على الفريق المنافس أن يخترق خط دفاعك ويسجل هدفا، أليس كذلك، أعمال الدعم والمقاومة بطريقة مماثلة. والمزيد من العناصر التي تضعها حول منطقة معينة واحدة، وأكثر صعوبة سيكون للسعر لاختراقه من خلال. عناصر الدعم الذي أسعى إليه هي: 1) مجال الدعم الديناميكي. كما تعلمون الرجال، وأنا دائما ننظر إلى قاعدة الصفقات بلدي على مستبعد إنشاؤها في تلك المنطقة. 2) فيبوناتشي التصحيحات. مستويات 38 و 50 و 61. أنا شخصيا لا تولي اهتماما لمستويات 23 أو 76. وكما تعلمون، فإن كل يوم تقريبا يصدر إعلانا اقتصاديا أساسيا. المحللين الماليين من جميع الأنواع علنا ​​توقعاتهم لنتائج البيانات، وبالتالي فإن السوق لديها أكثر أو أقل فكرة عن ما يجب أن يصدر الإعلان مثل. ومع ذلك، من وقت لآخر البيانات يخرج انحرف عن الرقم المتوقع المحللين والرسوم البيانية ارتفاع تشاوتيكالي صعودا وهبوطا إلى إعادة ضبط سعر السوق الحالي إلى البيانات التي تم إصدارها الفعلي. صدق أو لا تصدق، فإنه يحدث في كثير من الأحيان، ورد فعل السوق على مثل هذه الانحرافات يمكن أن يكون مدمرا محتملا لأي موقف التداول مفتوحة في ذلك الوقت الدقيق، وخاصة الصفقات خلال اليوم منذ ستوبلوس عادة ما تكون ضيقة نوعا ما، وإمكانية حقيقية من تلك ستوبلوسيس يجري تشغيل من ارتفاع الأخبار. لذلك، قبل الدخول في التجارة، إلقاء نظرة على النشرات الإخبارية المقرر لها اليوم. أفضل مكان لتتبع التقويم الاقتصادي القادم هو موقع فوركس فاكتوري فورمز (فوركسفاكتوري). وهي تصنف الإعلانات المختلفة حسب تأثيرها على الأسواق أو التقلب. العديد من الأخبار التي تخرج لا تحمل تأثير كبير على الأسواق، لذلك أنا شخصيا فقط الالتفات إلى تلك التي وصفت بأنها التقلب البرتقالي أو الأحمر (يعني المتوسطة إلى تأثير كبير)، والتخلص من تلك الصفراء (تأثير منخفض). كل صباح، مرة واحدة لدي قائمة المراقبة الخاصة بي لهذا اليوم، وأنا التحقق من تقويم مصنع الفوركس لمعرفة ما إذا كان هناك أي أخبار هامة الخروج في أي من العملات التي اخترتها لهذا اليوم، وإذا كان الأمر كذلك كيف يجب أن أخطط لي حول ذلك. كقاعدة عامة من الإبهام، كنت لا تريد أن تكون في موقف عندما تأتي الأخبار ما لم يتم نقل وقف الخسارة الخاصة بك إلى التعادل بالفعل. كما قلت من قبل، يمكن أن الأخبار ارتفاع الرسم البياني لمدة 40 نقطة في غضون ثوان، ويستحيل أن تعرف قبل جهة في أي اتجاه سوف تبادل لاطلاق النار ارتفاع نحو. في الأساس، ودخول التجارة قبل الخبر هو القمار المتشددين، لذلك لا تفعل ذلك. بعض الناس في محاولة لاتخاذ تخمين على ما إذا كانت الأخبار سوف يخرج أفضل أو أسوأ مما كان متوقعا على أساس هذه المادة أو تلك التي قرأها على بلومبرغ وماوتنوت. هذا الرجال القمار بصراحة كما أنه من المستحيل أن نعرف قبل يدا نتائج الإعلان. هل تريد أن تكون متداولا أو مقامر أنا شخصيا فرض نفسي حد حظر لمدة ساعتين قبل الأخبار للتأكد من أنني لم أوقف من قبل ارتفاع قبل أن أتمكن من تحريك وقف لي التعادل الصفقات قبالة 4 ساعة أو الرسوم البيانية اليومية ليست عرضة للأخبار كما ستوبلوس ونطاق الإطار الزمني هي في الواقع أكبر، ولكن إذا كنت التداول في اللحظة التي لا تريد أن تكون في موقف غير محمي عندما انخفضت القنابل. هل لنفسك صالح ونقل ستوبلوس إلى التعادل قبل الأخبار: إذا كنت في الجانب الخطأ من السوق سوف تحصل على طرد دون خسارة، وإذا كنت يحدث ليكون في حق واحد، وسوف تحصل على موقفك دفع في الاتجاه المطلوب. على العكس من ذلك، إذا كان الاخبار يمسك مع تجارتك ويظهر خسارة صغيرة، وإغلاق. من الأفضل أن تغلق عند خسارة صغيرة يمكن أن تشكل في التجارة القادمة من المخاطرة الحصول على طرقت العودة إلى -40 نقطة في غضون ثوان قليلة. وعلاوة على ذلك، لا تتردد في الخروج في خسارة طفيفة إذا، بحلول الوقت الذي تخرج الأخبار، موقفك لم تتحرك بعد مسافة كافية لتحريك وقف التعادل. من الأفضل للخروج في خسارة صغيرة التي يمكن أن تتكون بسهولة في التجارة القادمة من المخاطرة بفقدان أكبر بكثير إذا كانت الأخبار تأتي ضد مصلحتنا. وأخيرا، أنا أيضا فرض حظر 30 دقيقة بعد الأخبار إذا كانت النتيجة انحرفت عن البيانات المتوقعة. الصفع الرسوم البيانية مع ارتفاع. المحضر بعد ارتفاع مليئة التجارة العاطفية كما يحاول الناس لركوب رولكواستر صعودا وهبوطا. لذلك، إذا على الأخبار ترى الرسم البياني كذاب حول مثل يو يو، تعطيه بعض الوقت (30 دقيقة يجب أن يكون كافيا) لتبريد النشوة. كما أقول دائما، التداول بنجاح على المدى الطويل هو كل شيء عن تقليل المخاطر وخفض الخسائر إلى الحد الأدنى عندما يكون ذلك ممكنا. يرجى مشاهدة الفيديو أدناه حول تجنب ارتفاع الأخبار. حسنا الرجال، لذلك لدينا في نهاية المطاف حفنة من الاجهزة الجميلة، أكدنا أن الأطر الزمنية الأطول لا تظهر إشارات متعارضة، ونحن نعرف على مستوى دقيق نريد لشراء أو بيع قبالة، ونحن نعرف أيضا متى الإعلانات الأخبار تخرج حتى لا تأخذنا على حين غرة. وقتها لتخطيط الصفقات لدينا. خطة التجارة والتجارة الخطة كنت قد سمعت ذلك من قبل. ولكن ماذا يعني في الواقع أن خطة التجارة مثل السيناريو السينمائي. الكاتب النصي (بمعنى أنك التاجر) يقرر ما هي الجهات الفاعلة (معنى الثمن) هي أن تفعل من أجل أداء مشهد جيد (وهذا يعني نجاح التجارة). ليس لدينا سيطرة على ما سيفعل السعر بمجرد دخولنا التجارة، ولكن لدينا حقا السيطرة على ما الشروط نريد أن نرى قبل إطلاق التجارة. هذا ما هي خطة التجارة حول: سرد نوع من العمل السعر نريد السعر للقيام بها من أجل الدخول في التجارة. إذا اتبع السعر النص البرمجي لدينا، ونحن نأخذ الإدخال. إذا كان ينحرف عن البرنامج النصي، ونحن تمر. بهذه البساطة. نحن التجار، والمال لدينا والمخاطرة هنا، لذلك إما طريقنا أو أي وسيلة على الإطلاق. يجب عليك أن تقول السعر: أريد منك أن تفعل هذا، وهذا وبعد ذلك. خلاف ذلك، لا توجد صفقة على ما يرام، العناصر التي يجب أن تتضمنها كل خطة تداول هي: 1) ماذا يفعل السعر هل هو تعزيز أو أخذ نفسا بعد دفع لطيفة هل هو المماطلة في مجال الدعم الديناميكي بعد تعقب هل هو كذاب مع الزخم من ارتفاع هبوطي سابق هل نحن نبذل قمم أعلى وأدنى مستوياته هل نحن نبذل أدنى مستوياته الدنيا وأدنى مستوياته هل نحن نتراوح داخل مثلث هل ربما ربما كسرنا من مثلث تحليل السعر الذي يقوم به أو قد تم القيام به اعتبارا من لاتيل ذ. من المهم أن نفهم ماذا يحدث في السوق هنا والآن. نعم، ونحن نعلم أننا نتجه (تذكر أنه قبل أن تصل إلى هذه النقطة كنا قد استقر بالفعل أننا في سوق تتجه وفقا ل 3 سما تريند تصفية قواعد)، ولكن ما يحدث في الواقع الآن 2) أين نحن تريد أن تشتري ما هو مستوى الدعم (أو المقاومة) الذي نشتريه (أو نبيعه) في الأساس، ما هو المستوى الذي نستند إليه تجارتنا وما هي العناصر التي تصطف عند هذا المستوى الدقيق لاحظ مستوى التقاء دعم المقاومة و انتظر السعر لتتبع هذا المستوى. إذا كان يحمل ترتد، وهناك احتمالات أننا قد تجد إدخال صالح لركوب سوينغ جديد في اتجاه هذا الاتجاه. إذا خرق من خلال الزخم بهامش عادل، وإعطاء الإعداد ملكة جمال الأقوياء. 3) عندما يكون الإصدار الاقتصادي القادم للعملات التي أراقبها اليوم، وما هي خطة عملي حول تلك الأحداث بالذات. 4) إذا كنت أدخل التجارة، حيث سوف بلدي ستوبلوس يكون وسعري المستهدف متى سوف أتحرك ستوبلوس إلى التعادل سوف نقضي نصف موقفي في منتصف الطريق من خلال قراءة الفصول ذات الصلة في هذه الدورة لمزيد من التفاصيل حول ما قبل - والتجارة وإدارة التجارة. 5) ماذا أريد السعر للقيام به من أجل سحب الزناد ما هو نوع من تشكيل حركة السعر هل أريد السعر لإجراء إذا أنا التداول تشكيل من نوع الاختراق، وسوف أدخل عند الاختراق الأول أو سوف انتظر أول سحب على العكس من ذلك، ما يجب أن السعر بالنسبة لي للتخلص من هذا الإعداد ماذا لو كان الاختراق لا يحدث في اتجاهي ماذا لو كسر السعر تحت مستوى التقاء الدعم ماذا لو أننا كسر أسفل انخفاض الأمس على هذا الاتجاه الصعودي لكل الإعداد أتابع ، وأنا أكتب السيناريو بالتفصيل مع طرق مختلفة أن الإعداد معين يمكن أن تتكشف في المستقبل القريب. والتي سوف تجعلني دخول السوق والتي سوف تجبرني على منحهم ملكة جمال. نعم، نعم، وأنا أعلم أنه يبدو معقدا والكثير من المعلومات لتتبع. ولكن ثق بي إذا قلت أنه ليس من الصعب الرجال، مجرد مسألة الحصول على اعتادوا على العملية برمتها. مرة واحدة كنت قد وضعت بعض الخطط التجارية، وسوف نسيم من خلال لهم في غضون دقائق قليلة لأن معظمهم نسخة الكربون من بعضها البعض. منذ أنا تاجر الاتجاه، فإن معظم الاجهزة أنا شخصيا التجارة تشبه بعضها البعض غاليا، وبالتالي فإن الخطط التجارية لكل منها هي مشابهة إلى حد ما جدا. ولهذا السبب بمجرد عمل عدد قليل منهم، سترى أنه يصبح عملية ميكانيكية لتحليل الرسم البياني، وتدوين الملاحظات من جميع العناصر ذات الصلة وكتابة السيناريو السريع مع السيناريوهات التي تتكشف المحتملة. أنا أقول لك ما: من أجل أن يكون لديك صورة أوضح عن ما هي خطة التجارة في الواقع، لقد سجلت بلدي خطط التجارة لأحد جلسات التداول بلدي الحية. أنا أرى أنه من خلال عرض مثال على خطة التجارة الحقيقية سوف تكون قادرة على جمع فهم أكثر وضوحا لكيفية وضع الخطط الخاصة بك. خطة التجارة والتجارة خطة الناس لها كروسيال لأي تاجر ناجح. حسنا، جعلت ذلك. كانت الآن على استعداد لاتخاذ فعلا بعض الصفقات. لقد قمنا بفحص جميع الرسوم البيانية بحثا عن الأسواق تتجه. لقد اخترنا بعض لطيفة تبحث الاجهزة. لقد تأكدنا من أن الأطر الزمنية الأطول لا تظهر أي إشارة متضاربة. نحن نعرف أين لدينا مستويات من سوبورتريسيستانس الثقيلة هي. ونحن ندرك متى تأتي الأخبار الاقتصادية الهامة. لقد تم تعيين خطة تجارية لكل إعداد جلسة التداول على وشك فتح وقتها للحصول على أيدينا القذرة حسنا، هذا كل هذا الفصل مجانا 1 :) إذا كنت تتمتع هذا الفصل الأول، وأعتقد أنك سوف تجد أيضا المقبل سبعة فصول مثيرة جدا للاهتمام لأنها تتبع بنية مماثلة: كل المفاهيم النظرية شرحت في بسيطة، خالية من الهراء وسهلة الفهم اللغة على عدد من أشرطة الفيديو الغنية بالتفاصيل، تليها المزيد من أشرطة الفيديو حيث تم تطبيق تلك المفاهيم في الحقيقي الصفقات الحية وعلاوة على ذلك، سوف تحصل على مجانا بلدي مخصص مؤشر الاتجاه المسح الضوئي. الذي تم ترميزه خصيصا لي من قبل مبرمج محترف. هذا المؤشر مرشحات تتجه من سيناريوهات غير تتجه بغض النظر عن زوج العملات أو الإطار الزمني، لذلك في الواقع الله إرسالها من أجل العثور على وركوب الاتجاهات الصحية لتحقيق الربح إذا كنت ترغب في الحصول على بقية فصول هذه الدورة، والتكلفة هي رسوم لمرة واحدة من الولايات المتحدة 197. وتذكر: ثيريس ضمان استعادة الأموال لمدة 60 يوما. أي أسئلة طلب ترتيب سريعة وسهلة وآمنة. ببساطة انقر على شعار الدفع أدناه، اختر اختيارك للمدفوعات (باي بال أو بطاقة الائتمان) وأنت جيدة للذهاب في الداخل التداول 911. الحقائق وضعت عارية 20 مارس 2018 كوت آسيا تايمز كوت - هل هناك أي حقيقة في الادعاءات التي حققت الدوائر المستنيرة أرباحا كبيرة في الأسواق المالية فيما يتعلق بالهجمات الإرهابية في 11 سبتمبر 2001 على الولايات المتحدة يمكن القول إن أفضل مكان للبدء هو فحص الخيارات التي وضعت يوم الثلاثاء 11 سبتمبر 2001 إلى ومدى غير طبيعي، وفي البداية عن طريق البرمجيات التي لعبت دورا رئيسيا: نظام المعلومات الإدارية النيابة العامة، ويختصر باسم بروميس. ط بروميس هو برنامج البرمجيات التي يبدو أن تكون مزودة مع قدرات كوماجيكالكوت تقريبا. وعلاوة على ذلك، فهو موضوع نزاع دام عقودا بين المخترع، بيل هاملتون، ومختلف محامي الأشخاص المرتبطين بوكالات الاستخبارات والشركات الاستشارية العسكرية والأمنية. 1 One of the quotmagicalquot capabilities of PROMIS, one has to assume, is that it is equipped with artificial intelligence and was apparently from the outset able to simultaneously read and integrate any number of different computer programs or databases, regardless of the language in which the original programs had been written or the operating systems and platforms on which that database was then currently installed. quot 2 And then it becomes really interesting: What would you do if you possessed software that could think, understand every major language in the world, that provided peep-holes into everyone elses computer quotdressing roomsquot, that could insert data into computers without peoples knowledge, that could fill in blanks beyond human reasoning, and also predict what people do - before they did it You would probably use it, wouldnt you 3 Granted, these capabilities sound hardly believable. In fact, the whole story of PROMIS, which Mike Ruppert develops in the course of his book Crossing the Rubicon in all its bizarre facets and turns, seems as if someone had developed a novel in the style of Philip K Dick and William Gibson. However, what Ruppert has collected about PROMIS is based on reputable sources as well as on results of personal investigations, which await a jury to take a first critical look at. This seems all the more urgent if you add to the PROMIS capabilities quotthat it was a given that PROMIS was used for a wide variety of purposes by intelligence agencies, including the real-time monitoring of stock transactions on all the worlds major financial marketsquot. 4 We are therefore dealing with a software that a) Infiltrates computer and communication systems without being noticed. b) Can manipulate data. c) Is capable to track the global stock market trade in real time. Point c is relevant to all that happened in connection with the never completely cleared up transactions that occurred just before September 11, 5 and of which the former chairman of the Deutsche Bundesbank Ernst Weltke said quotcould not have been planned and carried out without a certain knowledgequot. 6 طلبت على وجه التحديد من الصحفي المالي ماكس كيزر، الذي عمل لسنوات عديدة في وول ستريت كمخزون وخيارات تاجر، حول تداول الخيارات. Keiser pointed out in this context that he quothad spoken with many brokers in the towers of the World Trade Center around that time. I heard firsthand about the airline put trade from brokers at Cantor Fitzgerald days before. quot He then talked with me about an explosive issue, on which Ruppert elaborated in detail in Crossing the Rubicon . ماكس كيزر: هناك العديد من الجوانب المتعلقة بشراء هذه الخيارات التي لم يتم الكشف عنها بعد. I also worked at Alex Brown amp Sons (ABS). Deutsche Bank bought Alex Brown amp Sons in 1999. When the attacks occurred, ABS was owned by Deutsche Bank. An important person at ABS was Buzzy Krongard. I have met him several times at the offices in Baltimore. نقل كرونجارد ليصبح المدير التنفيذي في وكالة المخابرات المركزية. The option purchases, in which ABS was involved, occurred in the offices of ABS in Baltimore. The noise which occurred between Baltimore, New York City and Langley was interesting, as you can imagine, to say the least. Under consideration here is the fact that Alex Brown, a subsidiary of Deutsche Bank (where many of the alleged 911 hijackers handled their banking transactions - for example Mohammed Atta) traded massive put options purchases on United Airlines Company UAL through the Chicago Board Option Exchange (CBOE) - quotto the embarrassment of investigatorsquot, as British newspaper The Independent reported. 7 On September 12, the chairman of the board of Deutsche Bank Alex Brown, Mayo A Shattuck III, suddenly and quietly renounced his post, although he still had a three-year contract with an annual salary of several million US dollars. One could perceive that as somehow strange. A few weeks later, the press spokesperson of the Central Intelligence Agency (CIA) at that time, Tom Crispell, declined all comments, when he was contacted for a report for Rupperts website From the Wilderness, and had being asked quotwhether the Treasury Department or FBI Federal Bureau of Investigation had questioned CIA executive director and former Deutsche Bank-Alex Brown CEO chief executive officer, A B Buzzy Krongard, about CIA monitoring of financial markets using PROMIS and his former position as overseer of Browns private client relations. quot 8 Just before he was recruited personally by former CIA chief George Tenet for the CIA, Krongard supervised mainly private client banking at Alex Brown. 9 In any case, after 911 on the first trading day, when the US stock markets were open again, the stock price of UAL declined by 43. (The four aircraft hijacked on September 11 were American Airlines Flight 11, American Airlines Flight 77 and UAL flights 175 and 93.) With his background as a former options trader, Keiser explained an important issue to me in that regard. Max Keiser: Put options are, if they are employed in a speculative trade, basically bets that stock prices will drop abruptly. The purchaser, who enters a time-specific contract with a seller, does not have to own the stock at the time when the contract is purchased. Related to the issue of insider trading via (put or call) options there is also a noteworthy definition by the Swiss economists Remo Crameri, Marc Chesney and Loriano Mancini, notably that an option trade may be quotidentified as informedquot - but is not yet (legally) proven - quotwhen it is characterized by an unusual large increment in open interest and volume, induces large gains, and is not hedged in the stock marketquot. 10 Open interest describes contracts which have not been settled (been exercised) by the end of the trading session, but are still open. Not hedged in the stock market means that the buyer of a (put or call) option holds no shares of the underlying asset, by which he might be able to mitigate or compensate losses if his trade doesnt work out, or phrased differently: one does not hedge, because it is unnecessary, since one knows that the bet is one, pardon, quotdead sure thing. quot (In this respect it is thus not really a bet, because the result is not uncertain, but a foregone conclusion.) In this case, the vehicle of the calculation was quotridiculously cheap put options which give the holder the right for a period of time to sell certain shares at a price which is far below the current market price - which is a highly risky bet, because you lose money if at maturity the market price is still higher than the price agreed in the option. However, when these shares fell much deeper after the terrorist attacks, these options multiplied their value several hundred times because by now the selling price specified in the option was much higher than the market price. These risky games with short options are a sure indication for investors who knew that within a few days something would happen that would drastically reduce the market price of those shares. quot 11 Software such as PROMIS in turn is used with the precise intent to monitor the stock markets in real time to track price movements that appear suspicious. Therefore, the US intelligence services must have received clear warnings from the singular, never before sighted transactions prior to 911. Of great importance with regard to the track, which should lead to the perpetrators if you were seriously contemplating to go after them, is this: Max Keiser: The Options Clearing Corporation has a duty to handle the transactions, and does so rather anonymously - whereas the bank that executes the transaction as a broker can determine the identity of both parties. But that may have hardly ever been the intention of the regulatory authorities when the track led to, amongst others, Alvin Bernard quotBuzzyquot Krongard, Alex Brown amp Sons and the CIA. Ruppert, however, describes this case in Crossing the Rubicon in full length as far as possible. 12 In addition, there are also ways and means for insiders to veil their tracks. In order to be less obvious, quotthe insiders could trade small numbers of contracts. These could be traded under multiple accounts to avoid drawing attention to large trading volumes going through one single large account. They could also trade small volumes in each contract but trade more contracts to avoid drawing attention. As open interest increases, non-insiders may detect a perceived signal and increase their trading activity. Insiders can then come back to enter into more transactions based on a seemingly significant trade signal from the market. In this regard, it would be difficult for the CBOE to ferret out the insiders from the non-insiders, because both are trading heavily. quot 13 The matter which needs clarification here is generally judged by Keiser as follows: Max Keiser: My thought is that many (not all) of those who died on 911 were financial mercenaries - and we should feel the same about them as we feel about all mercenaries who get killed. The tragedy is that these companies mixed civilians with mercenaries, and that they were also killed. So have companies on Wall Street used civilians as human shields maybe According to a report by Bloomberg published in early October 2001, the US Securities and Exchange Commission (SEC) began a probe into certain stock market transactions around 911 that included 38 companies, among them: American Airlines, United Airlines, Continental Airlines, Northwest Airlines, Southwest Airlines, Boeing, Lockheed Martin Corp. American Express Corp. American International Group, AXA SA, Bank of America Corp. Bank of New York Corp. Bear Stearns, Citigroup, Lehman Brothers Holdings Inc. Morgan Stanley, General Motors and Raytheon. 14 So far, so good. In the same month, however, the San Francisco Chronicle newspaper reported that the SEC took the unprecedented step to deputize hundreds, if not even thousands of key stakeholders in the private sector for their investigation. In a statement that was sent to almost all listed companies in the US, the SEC asked the addressed companies to assign senior staff for the investigation, who would be aware of quotthe sensitive naturequot of the case and could be relied on to quotexercise appropriate discretionquot. 15 In essence, it was about controlling information, not about provision and disclosure of facts. Such a course of action involves compromising consequences. Ruppert: What happens when you deputize someone in a national security or criminal investigation is that you make it illegal for them to disclose publicly what they know. Smart move. In effect, they become government agents and are controlled by government regulations rather than their own conscience. In fact, they can be thrown into jail without a hearing if they talk publicly. I have seen this implied threat time after time with federal investigators, intelligence agents, and even members of United States Congress who are bound so tightly by secrecy oaths and agreements that they are not even able to disclose criminal activities inside the government for fear of incarceration. 16 Among the reports about suspected insider trading which are mentioned in Crossing the Rubicon From the Wilderness is a list that was published under the heading quotBlack Tuesday: The Worlds Largest Insider Trading Scamquot by the Israeli Herzliyya International Policy Institute for Counterterrorism on September 21, 2001: Between September 6 and 7, the CBOE saw purchases of 4,744 put options on United Airlines, but only 396 call options. Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these quotinsidersquot would have profited by almost 5 million. On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance again, assuming that 4,000 of these options trades represent quotinsidersquot, they would represent a gain of about 4 million. The levels of put options purchased above were more than six times higher than normal. No similar trading in other airlines occurred on the Chicago exchange in the days immediately preceding Black Tuesday. Morgan Stanley Dean Witter amp Co, which occupied 22 floors of the World Trade Center, saw 2,157 of its October 45 put options bought in the three trading days before Black Tuesday this compares to an average of 27 contracts per day before September 6. Morgan Stanleys share price fell from 48.90 to 42.50 in the aftermath of the attacks. Assuming that 2,000 of these options contracts were bought based upon knowledge of the approaching attacks, their purchasers could have profited by at least 1.2 million. Merrill Lynch amp Co, with headquarters near the Twin Towers, saw 12,215 October 45 put options bought in the four trading days before the attacks the previous average volume in those shares had been 252 contracts per day (a 1200 increase). When trading resumed, Merrills shares fell from 46.88 to 41.50 assuming that 11,000 option contracts were bought by quotinsidersquot, their profit would have been about 5.5 million. European regulators are examining trades in Germanys Munich Re, Switzerlands Swiss Re, and AXA of France, all major reinsurers with exposure to the Black Tuesday disaster. (Note: AXA also owns more than 25 of American Airlines stock, making the attacks a quotdouble whammyquot for them.) 17Concerning the statements of the former chairman of the Deutsche Bundesbank Ernst Welteke, their tenor in various press reports put together is as follows: German central bank president Ernst Welteke later reports that a study by his bank indicates, quotThere are ever clearer signs that there were activities on international financial markets that must have been carried out with the necessary expert knowledge, quot not only in shares of heavily affected industries such as airlines and insurance companies, but also in gold and oil. Daily Telegraph, 9232001 His researchers have found quotalmost irrefutable proof of insider tradingquot. Miami Herald, 9242001 quotIf you look at movements in markets before and after the attack, it makes your brow furrow. But it is extremely difficult to really verify it. quot Nevertheless, he believes that quotin one or the other case it will be possible to pinpoint the sourcequot. Fox News, 9222001 Welteke reports quota fundamentally inexplicable risequot in oil prices before the attacks Miami Herald, 9242001 and then a further rise of 13 percent the day after the attacks. Gold rises nonstop for days after the attacks. Daily Telegraph, 9232001 18 Related to those observations, I sent a request via e-mail to the press office of the Deutsche Bundesbank on August 1, 2018, from which I was hoping to learn: How did the Bundesbank deal with this information Did US federal agencies ask to see the study With whom did the Bundesbank share this information And additionally: 1. Can you confirm that there is such a study of the Bundesbank concerning 911 insider trading, which was carried out in September 2001 2. If Yes: what is the title 3. If Yes: who were the authors 4. If Yes: has the study ever been made available to the public On August 2, I was then informed: quotYour mail has been received by us and is being processed under the number 2018 011551.quot Ultimately, however, the press office of the Deutsche Bundesbank was only available for an oral explanation on the phone. With this explanation, I then turned to the press office of the federal financial regulator in Germany, the Bundesanstalt fur Finanzdienstleistungsaufsicht, BaFin, with the following e-mail - and that because of obvious reasons: Yesterday, I sent a request (see end of this e-mail) to the press office of the Deutsche Bundesbank relating to insider trading connected to the terrorist attacks on September 11, 2001, and respectively relating to an alleged study carried by the Deutsche Bundesbank. The request carries the reference number 2018 011551. The press office or respectively Mr Peter Trautmann was only available for an oral explanation. I repeat this now, because it is related to your entity. This will be followed by my further questions. According to an oral explanation from the press office of the Deutsche Bundesbank, there has never been a detailed and official study on insider trading from the Bundesbank. Rather, there has been probably ad-hoc analysis with corresponding charts of price movements as briefings for the Bundesbank board. In addition, it would have been the duty of the Bundesfinanzaufsicht to investigate this matter. The press office of the Bundesbank was also not willing to give out any written information, not even after my hint that this alleged study by the Bundesbank has been floating around the Internet for years without any contradiction. That was the oral information from the Bundesbank press office, or respectively from Mr Peter Trautmann. Now my questions for you: 1. Has the BaFin ever investigated the 911 insider trading 2. With what result Have the results been made public 3. Have there not been any grounds for suspicion that would have justified an investigation, for example as damaged enterprise: Munich Re, and as buyers of put options of UALs United Airlines Company: Deutsche BankAlex Brown 4. Has the Deutsche Bundesbank ever enquired with BaFin what information they have regarding the 911 insider trading - for example for the creation of ad-hoc analysis for the Bundesbank 5. Have the US federal agencies ever inquired if the BaFin could cooperate with them in an investigation Could you reply to me in writing, unlike the Deutsche Bundesbank, please I would be very grateful for that The next day I did indeed receive an e-mail concerning this topic from Anja Engelland, the press officer of the BaFin in which she answered my questions as follows: 1. Yes, the former Bundesaufsichtsamt fur Wertpapierhandel, BAWe (federal supervisory for securities trading), has carried out a comprehensive analysis of the operations. 2. As a result, no evidence of insider trading has been found. Their approach and results have been published by the BAWe or BaFin in the annual reports for the years 2001 (cf S 2627) and 2002 (cf p 156 above first paragraph). Here are the links. See here and here . 3. See annual reports 2001 and 2002. Put options on United Airlines were not traded on German stock exchanges (the first EUREX options on US equities were introduced only after the attacks on 9112001) there were warrants on UAL and other US stocks, but those traded only in low volumes. 4. I personally do not know about such a request. Furthermore, the Bundesbank itself would have to comment on this. 5. BaFin is fundamentally entitled to the exchange of information with foreign supervisory authorities, like SEC, on the basis of written agreements, so-called memoranda of understanding (MoU). Regarding potential inquiries from foreign supervisory authorities, the BaFin can unfortunately not comment, this would be a matter of respective authority. For this I ask for understanding. Then I wrote another brief note to BaFin, quotin order to prevent any misunderstanding: your answers refers, as far as I understand, solely to the financial markets in Germany and Frankfurt, or notquot The reply from BaFin: The answers refer to the German financial market as a whole and not only on the Frankfurt Stock Exchange. In terms of the assessment of foreign financial markets, the relevant authorities are the competent points of contact. In my inquiries, I mentioned, among other things, a scientific study by US economist Allen M Poteshman from the University of Illinois at Urbana-Champaign, which had been carried out in 2006 regarding the put option trading around 911 related to the two airlines involved, United Airlines and American Airlines. Poteshman came to this conclusion: quotExamination of the option trading leading up to September 11 reveals that there was an unusually high level of put buying. This finding is consistent with informed investors having traded options in advance of the attacks. quot 19Another scientific study was conducted by the economists Wong Wing-Keung (Hong Kong Baptist University, HKBU), Howard E Thompson (University of Wisconsin) and Kweehong Teh (National University of Singapore, NUS), whose findings were published in April 2018 under the title quotWas there Abnormal Trading in the SampP 500 Index Options Prior to the September 11 Attacksquot Motivated by the fact that there had been many media reports about possible insider trading prior to 911 in the option markets, the authors looked in this study at the Standard amp Poors 500 Index (SPX Index Options), in particular with a focus on strategies emanating from a bear market, namely those under the labels quotPut Purchase, quot quotPut Bear Spreadquot and quotNaked ITM Call Writequot, as each of these are in accordance with the assumption that one would be betting on a general bear market if one wanted to profit in anticipation of the 911 event. 20 Along these lines, the authors refer to an article which Erin E Arvedlund published on October 8, 2001, in Barrons, the heading of which suggested precisely that thesis: quotFollow the money: Terror plotters could have benefited more from the fall of the entire market than from individual stocks. quot 21 Basically, Wong, Thompson and Teh came to the conclusion quotthat our findings show that there was a significant abnormal increase in the trading volume in the option market just before the 9-11 attacks in contrast with the absence of abnormal trading volume far before the attacksquot. More specifically, they stated, quotOur findings from the out-of-the-money (OTM), at-the-money (ATM) and in-the-money (ITM) SPX index put options and ITM SPX index call options lead us to reject the null hypotheses that there was no abnormal trading in these contracts before September 11th. quot Instead, they found evidence for quotabnormal trading volume in OTM, ATM and ITM SPX index put optionsquot for September 2001, and also in quotITM-SPX index call optionsquot for the same month. quotIn addition, we find that there was evidence of abnormal trading in the September 2001 OTM, ATM and ITM SPX index put options immediately after the 9-11 attacks and before the expiration date. This suggests that owning a put was a valuable investment and those who owned them could sell them for a considerable profit before the expiration date. quot From all of this, they took the position that whilst they couldnt definitively prove that insiders were active in the market, quotour results provide credible circumstantial evidence to support the insider trading claimquot. 22 Disambiguation: quotin the moneyquot means that the circumstances arise on which the owner of a put option is betting - the market price of the underlying asset, for example a stock (or in this case an index of shares), is lower at that moment compared to the price at the time when the transaction took place. quotAt the moneyquot means that the price of the underlying asset has remained equal or nearly equal. And quotout-of-the-moneyquot means that the price of the underlying asset has gone up, so the opposite of what the owner of the put option was betting on took place. quotIn the moneyquot: win. quotOut of the moneyquot: loss. There are also ITM, ATM and OTM options both for trading strategies with put and call options, depending on which kind of risk one would like to take. For example, according to Wong, Thomson and Teh, the quotPut-Purchase Strategyquot in the case of a downward movement of the underlying asset quotis a cheaper alternative to short-selling of the underlying asset and it is the simplest way to profit when the price of the underlying asset is expected to declinequot. The use of the OTM put option compared to the ITM put option, however, offers quotboth higher reward and higher risk potentials (. ) if the underlying asset falls substantially in price. However, should the underlying asset decline only moderately in price, the ITM put often proves to be the better choice (. ) because of the relative price differential. quot That is why speculators would fare best, if they bought ITM put options, quotunless the speculators would expect a very substantial decline in the price of the underlying asset. quot 23 After they calculated such strategies in the light of the available trading data in the CBOE relating to 911, the three economists ultimately do not accept a possible counter-argument that their results could be attributed to the fact that the stock markets were generally falling and that there had already been a negative market outlook. Finally they pointed out: quotMore conclusive evidence is needed to prove definitively that insiders were indeed active in the market. Although we have discredited the possibility of abnormal volume due to the declining market, such investigative work would still be a very involved exercise in view of the multitude of other confounding factors, quot such as confusing trading strategies, quotintentionally employed by the insidersquot in order to attract less attention. 24 That would be - and if only to invalidate these scientific results once and for all - primarily a task for the SEC, the FBI and other governmental authorities of the United States. However, we will have to wait for this in vain. I think that not less worthy of a mention is an article that the French financial magazine Les Echos published in September 2007 about a study conducted by two independent economics professors from the University of Zurich, Marc Chesney and Loriano Mancini. Journalist Marina Alcaraz summarized the content of the findings in Les Echos with these words and with these explanations by Professor Chesney, which I for the first time translated into German (and do now translate from French into English): quotThe atypical volumes, which are very rare for specific stocks lead to the suspicion of insider trading. quot Six years after the attacks on the World Trade Center this is the disturbing results of a recent study by Marc Chesney and Loriano Mancini, professors at the University of Zurich. The authors, one of them a specialist in derivative products, the other a specialist in econometrics, worked on the sales options that were used to speculate on the decline in the prices of 20 large American companies, particularly in the aerospace and financial sector. Their analysis refers to the execution of transactions between the 6th and 10th of September 2001 compared to the average volumes, which were collected over a long period (10 years for most of the companies). In addition, the two specialists calculated the probability that different options within the same sector in significant volumes would be traded within a few days. quotWe have tried to see if the movements of specific stocks shortly before the attacks were normal. quot We show that the movements for certain companies such as American Airlines, United Airlines, Merrill Lynch, Bank of America, Citigroup, Marsh amp McLehnan are rare from a statistical point of view, especially when compared to the quantities that have been observed for other assets like Coca-Cola or HP, quot explains Marc Chesney, a former Professor at the HEC and co-author of Blanchiment et financement du terrorisme ( Money laundering and financing of terrorism ), published by Editions Ellipses. quotFor example 1,535 put option contracts on American Airlines with a strike of 30 and expiry in October 2001 were traded on September 10th, in contrast to a daily average of around 24 contracts over the previous three weeks. The fact that the market was currently in a bear market is not sufficient to explain these surprising volumes. quot The authors also examined the profitability of the put options and trades for an investor who acquired such a product between the 6th and 10th September. quotFor specific titles, the profits were enormous. quot quotFor example, the investors who acquired put options on Citigroup with an expiry in October 2001 could have made more than 15 million profit, quot he said. On the basis of the connection of data between volumes and profitability, the two authors conclude that quotthe probability that crimes by Insiders (Insider trading) occurred. is very strong in the cases of American Airlines, United Airlines, Merrill Lynch, Bank of America, Citigroup and JP Morgan. quotThere is no legal evidence, but these are the results of statistical methods, confirming the signs of irregularities. quot 25 As Alcaraz continued to state for Les Echos, the study by ChesneyMancini about possible insider trading related to the 911 attacks was not the first of its kind but it was in sharp contrast to the findings of the US Securities and Exchange Commission SEC and the 911 Commission, since they classified the insider trading as negligible - the trades in question had no connection to 911 and had quotconsistently proved innocuousquot. Different in the assessment is also the scientific work that Chesney and Mancini had published together with Remo Crameri in April 2018 at the University of Zurich, quotDetecting Informed Trading Activities in the option markets. quot In the segment that is dedicated to the terror attacks of 911, the three authors come to the conclusion, that there had been notable insider trading shortly before the terrorist attacks on September 11 that was based on prior knowledge. Without elaborating on the detailed explanation of the mathematical and statistical method, which the scientific trio applied during the examination of the put option transactions on the CBOE for the period between 1996 and 2006, I summarize some of their significant conclusions. quotCompanies like American Airlines, United Airlines, Boeingquot - the latter company is a contractor of the two airlines as aircraft manufacturer - quotand to a lesser extent, Delta Air Lines and KLM seem to have been targets for informed trading activities in the period leading up to the attacks. The number of new put options issued during that period is statistically high and the total gains realized by exercising these options amount to more than 16 million. These findings support the results by Poteshman (2006) who also reports unusual activities in the option market before the terrorist attacks. quot 26 In the banking sector, Chesney, Crameri and Mancini found five informed trading activities in connection to 911. quotFor example the number of new put options with underlying stock in Bank of America, Citigroup, JP Morgan and Merrill Lynch issued in the days before the terrorist attacks was at an unusually high level. The realized gains from such trading strategies are around 11 million. quot 27 For both areas, the aviation and the banking sector, the authors state that quotin nearly all cases the hypothesisquot, that the put options were not hedged, quotcannot be rejectedquot. 28 Regarding the options traded on EUREX, one of the worlds largest trading places for derivatives, which in 1998 resulted from the merger between the German and Swiss futures exchanges DTB and SOFFEX, Chesney, Mancini and Crameri focused on two reinsurance companies, which incurred costs in terms of billions of dollars in connection with the World Trade Center catastrophe: Munich Re and Swiss Re. On the basis of EUREX trading data provided by Deutsche Bank, the three scientists detected one informed option trade related to Munich Re, which occurred on August 30, 2001. The authors write: quotThe detected put option with underlying Munich Re matured at the end of September 2001 and had a strike of 320 (the underlying asset was traded at 300, 86 on August 30th). That option shows a large increment in open interest of 996 contracts (at 92.2 quintile of its two-year empirical distribution) on August 30th. Its price on that day was 10, 22. On the day of the terrorist attacks, the underlying stock lost more than 15 (the closing price on September 10th was 261, 88 and on September 11th 220, 53) and the option price jumped to 89, 56, corresponding to a return of 776 in eight trading days. The gains. related to the exercise of the 996 new put options issued on August 30th correspond to more than 3.4 million. quot Similar is true, according to the authors, for one informed option trade on Swiss Re on August 20, 2001 with quota return of 4,050 in three trading weeksquot, or quotmore than 8 million. quot 29 In a new version of their study that was published on September 7, 2018, the authors stuck to their findings from April 2018. They added the emphasis that in no way the profits gained with the put options to which they point could have been achieved due to sheer fortunate coincidence, but that in fact they were based on prior knowledge which had been exploited. 30 With those results in terms of what went on at the EUREX according to Chesney, Crameri and Mancini, I again addressed the BaFin, which had written to me that for the financial centers in Germany insider trading around 911 could be excluded, and asked: How does this go with your information that the federal supervisory for securities trading (BAWe) could in its comprehensive analysis not find evidence for insider trading Do the authors, so to speak, see ghosts with no good reason In addition, I stated: If it is true what Chesney, Crameri and Mancini write, or if you at the BaFin cannot (ad hoc) refute it, would this then cause the BaFin to thoroughly investigate the matter again If the findings of Chesney, Crameri, and Mancini were true, this would constitute illegal transactions relating to a capital crime, which has no status of limitations, or not In case that a need for clarification had arisen at the BaFin, I added Professor Chesney to my e-mail-inquiry in the quotcarbon copyquo t - address field, as because these were the results of his scientific work. The response that I received from BaFin employee Dominika Kula was as follows: As I already told you in my e-mail, the former federal supervisory for securities trading (BAWe) carried out a comprehensive analysis of the operations in 2001. As a result, no evidence of insider trading has been found. For clarification purposes, I wish to point out that violations of statutory provisions of securities or criminal law can never be excluded with absolute certainty. In order to pursue and prosecute such matters concrete evidence of an unlawful act is required. Such evidence does not exist here. With regard to the sources you mentioned, I ask for understanding that I can neither comment on scientific analyses, nor on reviews by third parties. Regarding the statutes of limitations for offences relating to the violation insider trading regulations trading I can give you the following information: A violation of the law to prohibit insider trading is punishable with imprisonment up to 5 years or with fines. The statutes of limitations applied for crimes carrying this kind of penalty (section 78 paragraph 3 No. 4 Penal Code) are five years. These limitations are described in the statutes of limitations ( 78 et seq.) (Criminal Code). In addition, I turned to the EUREX with three questions: 1. How do you as EUREX comment on the findings of Messrs Chesney, Mancini and Crameri 2. Did you at EUREX perceive the particular trading in Munich Re and Swiss Re it in any way as strange 3. Have domestic (eg BAWe and BaFin) or foreign (such as the U. S. Securities and Exchange Commission) authorities ever inquired if there may have been evidence of insider trading via the EUREX in connection with the 911 attacks I subsequently received the following response from Heiner Seidel, the deputy head of the press office of the Deutsche Borse in Frankfurt. We do not give you a public written response on behalf of the Deutsche Brse or Eurex regarding the topics of your inquiry. This is for the following reason: the trade monitoring agency (HSt) is part of the Exchange, but it is independent and autonomous. Their investigations are confidential and are carried out in close coordination with the BaFin. They are never public, a request which HSt is therefore not meaningful. I leave it to the reader to draw hisher conclusions from these two replies from the press offices of BaFin and Deutsche Borse. Regarding the topic of option trades related to 911, I once more talked with Swiss historian Dr Daniele Ganser (quotOperation Gladioquot), by asking him this time about the importance of those put options, which were traded shortly before the attacks of September 11, 2001. Daniele Ganser: This is an important point. This is about demonstrating that there was insider trading on the international stock exchanges before 11 September. Specifically put options, ie speculation on falling stock prices were traded. Among the affected stocks were United Airlines and American Airlines, the two airlines involved in the attacks. A colleague of mine, Marc Chesney, professor at the Institute of banking at the University of Zurich, has examined these put options. You first of all have to check if there may have been international speculation that the aviation industry would be experiencing a weak period and whether accordingly also put options on Singapore Airlines, Lufthansa and Swiss were bought. This was not the case. Very significant put option trades were only transacted for these two airlines involved in the attacks. Secondly, you must examine the ratio of put options to call options and look if they had also been purchased to a similarly significant extent that would constitute speculations on rising stock prices. And that is also not the case. There were only significant put options and only significant transactions for United Airlines and American Airlines. Now you need to look further in order to see who actually bought the put options, because that would be the insider who made millions on September 11. Most people are unaware that money was also earned with the attacks on September 11. The Security and Exchange Commission, SEC, the Securities and Exchange Commission of the United States, however, does not publish the information on who bought the put options, because you can do this anonymously. It is disturbing that this data is not made public. What you have is the 911 Commission report, and here it is pointed out. that there has been insider trading, but that this insider trading cannot be traced to al-Qaeda leader Osama bin Laden, which means that it is highly unlikely that it had been Bin Laden. Question: If this is not pursued any further, what does it mean Daniele Ganser: This means that the investigation of the terrorist attacks was incomplete, and always at the point where there are contradictions to the SURPRISE story, no further investigations are made. It looks very much as if one wants to examine only one story, the investigation is therefore one-sided. But this does not only apply to the put options. 31 Interestingly enough, when Dr Ganser points out in his reply that this important data is not published, it is actually only half of the truth. Why The answer is very simple and odd at the same time: David Callahan, the editor of the US magazine SmartCEO, filed a request to the SEC about the put options which occurred prior to September 11 within the framework of the Freedom of Information Act (FOIA). The SEC informed Callahan in its reply of December 23, 2009 under the number quot09 07659-FOIAquot as follows: This letter is in response to your request seeking access to and copies of the documentary evidence referred to in footnote 130 of Chapter 5 of the September 11 (911) Commission Report. We have been advised that the potentially responsive records have been destroyed. 32 Therefore, we will unfortunately never know exactly how the SEC and the 911 Commission came to their conclusions regarding the 911 put options trading for their final report, because relevant documents were not only held back, but also destroyed - and that in spite of an agreement between the SEC and the National Archive of the United States, in which the SEC has agreed to keep all records for at least 25 years. 33 The 911 Commission report wrote this in footnote 130 of Chapter 5, which briefly focuses on the alleged insider trading: Highly publicized allegations of insider trading in advance of 9 11 generally rest on reports of unusual pre-911 trading activity in companies whose stock plummeted after the attacks. وقد حدث بالفعل بعض التداول غير العادي، ولكن ثبت أن كل من هذه التجارة له تفسير غير ضار. For example, the volume of put options - investments that pay off only when a stock drops in price - surged in the parent companies of United Airlines on September 6 and American Airlines on September 10 - highly suspicious trading on its face. Yet, further investigation has revealed that the trading had no connection with 911. A single US-based institutional investor with no conceivable ties to al-Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific US-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades. These examples typify the evidence examined by the investigation. The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. وقد وجد هؤلاء المحققون أن ما يبدو مشبوهة ثبت باستمرار غير ضارة. (Joseph Cella interview (Sept 16, 2003 May 7, 2004 May 10-11, 2004) FBI briefing (Aug 15, 2003) SEC memo, Division of Enforcement to SEC Chair and Commissioners, quotPre-September 11, 2001 Trading Review, quot May 15, 2002 Ken Breen interview (Apr. 23, 2004) Ed G. interview (Feb. 3, 2004). The author Mark H Gaffney commented on this finding of Notice. the commission makes no mention in its footnote of the 36 other companies identified by the SEC in its insider trading probe. What about the pre-911 surge in call options for Raytheon, for instance, or the spike in put options for the behemoth Morgan Stanley, which had offices in WTC 2 The 911 Commission Report offers not one word of explanation about any of this. The truth, we must conclude, is to be found between the lines in the reports conspicuous avoidance of the lions share of the insider trading issue. Indeed, if the trading was truly quotinnocuousquot, as the report states, then why did the SEC muzzle potential whistleblowers by de putizing everyone involved with its investigation The likely answer is that so many players on Wall Street were involved that the SEC could not risk an open process, for fear of exposing the unthinkable. This would explain why the SEC limited the flow of information to those with a quotneed to knowquot, which, of course, means that very few participants in the SEC investigation had the full picture. It would also explain why the SEC ultimately named no names. All of which hints at the true and frightening extent of criminal activity on Wall Street in the days and hours before 911. The SEC was like a surgeon who opens a patient on the operating room table to remove a tumor, only to sew him back up again after finding that the cancer has metastasized through the system. At an early stage of its investigation, perhaps before SEC officials were fully aware of the implications, the SEC did recommend that the FBI investigate two suspicious transactions. We know about this thanks to a 911 Commission memorandum declassified in May 2009 which summarizes an August 2003 meeting at which FBI agents briefed the commission on the insider trading issue. The document indicates that the SEC passed the information about the suspicious trading to the FBI on September 21, 2001, just ten days after the 911 attacks. Although the names in both cases are censored from the declassified document, thanks to some nice detective work by Kevin Ryan we know whom (in one case) the SEC was referring to. The identity of the suspicious trader is a stunner that should have become prime-time news on every network, world-wide. Kevin Ryan was able to fill in the blanks because, fortunately, the censor left enough details in the document to identify the suspicious party who, as it turns out, was none other than Wirt Walker III, a distant cousin to then-president G W Bush. Several days before 911, Walker and his wife Sally purchased 56,000 shares of stock in Stratesec, one of the companies that provided security at the World Trade Center up until the day of the attacks. Notably, Stratesec also provided security at Dulles International Airport, where AA 77 took off on 911, and also security for United Airlines, which owned two of the other three allegedly hijacked aircraft. At the time, Walker was a director of Stratesec. Amazingly, Bushs brother Marvin was also on the board. Walkers investment paid off handsomely, gaining 50,000 in value in a matter of a few days. Given the links to the World Trade Center and the Bush family, the SEC lead should have sparked an intensive FBI investigation. Yet, incredibly, in a mind-boggling example of criminal malfeasance, the FBI concluded that because Walker and his wife had quotno ties to terrorism. there was no reason to pursue the investigation. quot The FBI did not conduct a single interview. 34 For this translation, I asked Kevin Ryan via e-mail if he could send me a link for his quotnice detective workquot. Ryan, whos in my humble opinion one of roughly 10 people around the world who have to be taken seriously regarding 911, replied: You are referring to my paper quotEvidence for Informed Trading on the Attacks of September 11.quot See here . The following two references from the paper are relevant to what you are describing. 2 911 Commission memorandum entitled quotFBI Briefing on Tradingquot. prepared by Doug Greenburg, 18 August 2003, 22. The 911 Commission memorandum that summarized the FBI investigations refers to the traders involved in the Stratesec purchase. From the references in the document, we can make out that the two people had the same last name and were related. This fits the description of Wirt and Sally Walker, who were known to be stock holders in Stratesec. Additionally, one (Wirt) was a director at the company, a director at a publicly traded company in Oklahoma (Aviation General), and chairman of an investment firm in Washington, DC (Kuwam Corp). Here are two other recent articles on Stratesec and its operators. See here and here . The stock of Stratesec, I should add by myself, increased in value from 0.75 per share on September 11 to 1.49 per share when the market re-opened on September 17. As a firm that provides technology-based security for large commercial and government facilities, Stratesec benefited from the soaring demand of security companies right after 911. It is also remarkable what Ryan wrote to me regarding a company on which he did some research, too: Viisage Corp, another high-tech security firm. Kevin Ryan: In late 2005, George Tenet became a director for Viisage, which had been flagged by the SEC for 911 trading but never investigated. Viisage was led by Roger LaPenta, formerly of Lockheed. Seven months later, in 2006, FBI director Louis Freeh also joined the Viisage board. One might think that when both the CIA director (on 911) and the FBI director (from 1993 to June 2001) joined a company suspected of 911 insider trading, we might want to go back and actually investigate the SECs flagging of that company. But, of course, that was not the case. In 2009, quotBandar Bushquot hired Freeh as his personal attorney. Freeh is nowadays the bankruptcy trustee of the alleged market manipulator MF Global. And about his client, the former Saudi ambassador Prince Bandar, I should add that we know for sure that he bankrolled indirectly via his wife two of the alleged would-be 911 hijackers, Khalid Al-Mihdhar and Nawaf Al-Hazmi. 35 But lets get back to the subject of destruction. On September 11, not only human life, aircraft and buildings were destroyed in New York City, but also data on computers and in archives. For example, several federal agencies occupied space in Building 7 of the World Trade Center, including the Securities and Exchange Commission on floors 11 to 13. Those and other data could have given information about the alleged 911 insider trading (though it seems to be very unlikely that no backup existed elsewhere independent of the local computer systems). In fact, some technology companies were commissioned to recover damaged hard disks, which had been recovered from the debris and dust of Ground Zero. One of these companies was the English company group Convar, more precisely: their data rescue center in the German city Pirmasens. Erik Kirschbaum from the news agency Reuters reported in December 2001 that Convar had at that time successfully restored information from 32 computers, supporting quotsuspicions that some of the 911 transactions were illegalquot. The suspicion is that inside information about the attack was used to send financial transaction commands and authorizations in the belief that amid all the chaos the criminals would have, at the very least, a good head start, says Convar director Peter Henschel. quot 36 Convar received the costly orders - according to Kirschbaums report the companies had to pay between 20,000 and 30,000 per rescued computer - in particular from credit card companies, because: quotThere was a sharp rise in credit card transactions moving through some computer systems at the WTC shortly before the planes hit the twin towers. This could be a criminal enterprise - in which case, did they get advance warning Or was it only a coincidence that more than 100 million was rushed through the computers as the disaster unfoldedquot 37 The companies for which Convar was active cooperated with the FBI. If the data were reconstructed they should have been passed on to the FBI, and the FBI, according to its statutory mandate, should have initiated further investigation based on the data to find out who carried out these transactions. Henschel was optimistic at the time that the sources for the transactions would come to light. Richard Wagner, a Convar employee, told Kirschbaum that quotillegal transfers of more than 100 million might have been made immediately before and during the disaster. There is a suspicion that some people had advance knowledge of the approximate time of the plane crashes in order to move out amounts exceeding 100 million, he says. They thought that the records of their transactions could not be traced after the main frames were destroyed. quot 38 Wagners observation that there had been quotillegal financial transactions shortly before and during the WTC disasterquot matches an observation which Ruppert describes in Crossing the Rubicon . Ruppert was contacted by an employee of Deutsche Bank, who survived the WTC disaster by leaving the scene when the second aircraft had hit its target. According to the employee, about five minutes before the attack the entire Deutsche Bank computer system had been taken over by something external that no one in the office recognized and every file was downloaded at lightning speed to an unknown location. The employee, afraid for his life, lost many of his friends on September 11, and he was well aware of the role which the Deutsche Bank subsidiary Alex Brown had played in insider trading. 39 I was curious and wanted more information from Convar regarding their work on the WTC-computer hard drives, but also about the statements made by Peter Henschel and Richard Wagner. Thus, I contacted the agency which represents Convar for press matters, with a written request. But their agency quotars publicandiquot informed me swiftly: Due to time constraints, we can currently offer you neither information nor anyone on the part of our client to talk to regarding this requested topic. I also approached KrollOntrack, a very interesting competitor of Convar in writing. Ontrack Data Recovery, which also has subsidiaries in Germany, was purchased in 2002 by Kroll Inc - quotone of the nations most powerful private investigative and security firms, which has long-standing involvement with executive protection US government officials including the president. This would require close liaison with the Secret Service. quot 40 At the time of the 911 attacks, a certain Jerome Hauer was one of the managing directors at Kroll Inc. He had previously established the crisis center for the mayor of New York City as director of the Office of Emergency Management (OEM), which occupied office space on the 23rd floor of the WTC Building 7. Hauer helped former FBI agent John ONeill to get the post of the head of Security Affairs at the WTC, and spent the night of September 11 with ONeill in New York before the latter lost his life on September 11 in the WTC. Hauer was most likely involved in the planning of quotTripod IIquot, the war game exercise at the port of New York City. 41 Therefore, I found it appealing to uncover some more details of this aspect, or, more accurately to find out if Ontrack or KrollOntrack had received an order in 2001 or after to rescue computer hard drives from the WTC. The answer I received from KrollOntrack said: Kroll Ontrack was not at the site of the data recovery - the devices at the Twin Towers have been completely destroyed or vaporized. The firm Kroll was, however, at that time active in the field of computer-forensic investigations, securing devices in the surrounding buildings. In essence, these two inquiries did not help me at all. If anything, a further question arose: why did KrollOntrack send me a response, where it was really obvious that the content did not match the facts After all, I had written in my inquiry that Convar had received orders to restore damaged computer hard drives from the World Trade Center. I sent a new inquiry, attaching a link for Erik Kirschbaums Reuters article and additional cinematic reports on Convars which showed that some of the WTC disks had not been quotcompletely destroyed or vaporizedquot. I stated to KrollOntrack: quotYour answer does not seem to match the facts, when it comes to completely destroyed or vaporized. Will you still stick to your answerquot KrollOntrack then replied that their previously given assessment constituted quotnot a statement, but an opinionquot. I do not find this assessment worthless, because it is in line with the knowledge of the general public and can easily be refuted in argumentum in contrario by Convars activities. One film report to which I referred to in my second inquiry to KrollOntrack originated from the German television journal Heute-Journal broadcast on March 11, 2002, on ZDF, and the other from the Dutch TV documentary Zembla, broadcast on September 10, 2006. The ZDF report showed that Convar received the WTC disks from the US Department of Defense and that Convar had managed until March 2002 to recover more than 400 hard drives. It also reported that the private companies that employed Convar had paid between 25,000 and 50,000 per hard drive. In the TV documentary Zembla, Convar essentially maintained its position as it had been reported by Erik Kirschbaum in 2001. Obviously, in connection with 911 there has not only been insider trading via put options, but there is additional evidence that there have been illegal financial transactions via credit cards through which more than 100 million US dollars were removed from the WTC computer systems. Those occurred shortly before and during the WTC disaster. It remains unclear what the FBI did later on with the data recovered by Convar. On the other hand, it may have been not very much, as can be seen from a memorandum from the 911 Commission, which was released in May 2009. The 911 Commission asked the FBI about the use of credit cards for insider dealing. On the basis of the information provided by the FBI, the commission came to the conclusion that no such activity occurred because quotthe assembled agents expressed no knowledge of the reported hard-drive recovery effort or the alleged schemequot - but above all quoteverything at the WTC was pulverized to near powder, making it extremely unlikely that any hard-drives survivedquot. 42 The activities of Convar, however, prove the exact opposite. But it gets even better. According to Zembla, the FBI was directly involved with the data rescue efforts of Convar. And on top of it, the broadcast of Heute-Journal reported that Convar worked in that quothighly sensitivequot matter with several federal agencies of the United States government. So there have been ample indications for insider trading based on foreknowledge of the attacks, but there are very few hard facts as Catherine Austin Fitts, a former managing director and member of the board of the Wall Street investment bank Dillon, Read amp Co, Inc (now part of UBS), pointed out when I talked with her about this topic. Ms Fitts, what are your general thoughts related to the alleged 911-insider trading Catherine Austin Fitts: Well, Ive never been able to see concrete evidence that the insider trading has been proved. Theres a lot of anecdotal information from investment bankers and people in the investment community that indicate that there was significant insider trading, particularly in the currency and bond markets, but again it hasnt been documented. I think around situations like 911 weve seen things that can only be explained as insider trading. Therefore, it wouldnt surprise me if it turns out the allegations are true, because my suspicion is that 911 was an extremely profitable covert operation and a lot of the profits came from the trading. It wouldnt even surprise me if it turns out that the Exchange Stabilization Fund traded it and that some of the funding for the compensation fund for the victims came from the ESF. Insider trading happens around these kinds of events, but if you really want to produce evidence of insider trading, you need the subpoena powers of the SEC, and of course we know that they havent exercised them. If anything, right after 911, the government settled a significant amount of cases I presume because a lot of the documents were destroyed by the destruction of WTC building number 7, where the SEC offices and other governmental investigation offices were. 43 Fitts, who had written a longer essay in 2004 related to this, replied to my question about who had benefited from 911: Catherine Austin Fitts: 911 was extraordinarily profitable for Wall Street, they of course got a kind of quotGet Out of Jail Free cardquot as Ive just described. In addition, the largest broker of government bonds, Cantor Fitzgerald, was destroyed, and there was a great deal of money missing from the federal government in the prior four or five years. If you look at the amount of funds involved, it is hard to come to a conclusion other than massive securities fraud was involved, so I find it very interesting that this happened. 44 A short explanation: Cantor Fitzgeralds headquarters were located in the North Tower of the WTC (floors 101-105). On 911, the company lost nearly two-thirds of its entire workforce, more than any other tenant in the WTC. (Also two other government bonds brokers, Garbon Inter Capital and Eurobrokers, occupied office space in the WTC towers that were destroyed.) Back to Fitts and the question: quotCui bono 911quot Catherine Austin Fitts: In addition, the federal government took the position that they couldnt produce audited financial statements after 911, because they said the office at the Pentagon that produced financial statements was destroyed. Now given what I know of the federal set up of financial statements, I am skeptical of that statement. But needless to say, if you take the government on its word, you had another quotGet Out of Jail Free cardquot for four trillion dollars and more missing from the federal government. So if youre just looking at the financial fraud angle, there were a lot of parties that benefited from 911. But then of course what 911 did, it staged the passage of the Patriot Act and a whole series of laws and regulations that I collectively refer to as quotThe Control on Concentration of Cash Flow Act. quot It gave incredible powers to centralize. In addition, if you look at monetary policies right after 911 - I remember I was over in the City of London driving around with a money manager and his phone rang and he answered it on his speaker phone. It was somebody on Wall Street who he hadnt talked to since before 911, and he said to him: quotOh Harry, I am so sorry about what has happened, it must have been very traumatic. quot And the guy said: quotDont be ridiculous We were able to borrow cheap short and invest long, were running a huge arbitrage, were making a fortune, this is the most profitable thing that ever happened to usquot - So you could tell the monetary policies and sort of insider games were just pumping profits into the bank at that time, so that was very profitable. But of course the big money was used for a significant movement of the military abroad and into Afghanistan and then into Iraq. You could see that the country was being prepared to go to war. And sure enough, 911 was used as a justification to go to war in Afghanistan, to go to war in Iraq, and commit a huge number of actions, and now much of the challenges about the budget are the result of extraordinary expenditures on war including in Afghanistan and Iraq and the costs of moving the army abroad and engaging in this kind of empire building with ground military force. So I think if you ask Cui Bono on 911, one of the big categories was all the people who made money on engineering the popular fear they needed to engineer these wars. I believe whether it was financial fraud, engineering new laws or engineering wars, it was a fantastically profitable covert operation. 45 In that category of people who benefit from 911 are also the arms manufacturer Raytheon, whose share price gained directly from the 911 attacks. Trading of the shares of Raytheon, the producer of Tomahawk and Patriot missiles (and parent company of E-systems, whose clients include the National Security Agency and CIA), experienced an abrupt six-time increase of call option purchases on the day immediately before September 11. 46 The outright purchase of call options implies the expectation that a stock price will rise. In the first week after 911, when the New York Stock Exchange opened again, the value of Raytheon actually shot up considerably. Looking at the development of the stock price, the impression is a very weak performance before the attacks - and then, after resumption of trade, a quotgapquot (at substantial volume) upwards. In other words: just under 25 on September 10, the low in the period between August 20 to September 28, at 31, 50 on September 17 and up to 34, and 80 on September 27, 2001. With regards to government bonds, buyers of US Treasury securities with a maturity of five years were also winners. These securities were traded in an unusually large volume shortly before the attacks. The Wall Street Journal reported at least in early October 2001 that the Secret Service had started an investigation into a suspiciously high volume of US government bond purchases before the attacks. The Wall Street Journal explained: Five-year Treasury bills are the best investments in the event of a global crisis, in particular one like this which has hit the United States. The papers are treasured because of their safety, and because they are covered by the US government, and usually their prices rise if investors shun riskier investments, such as shares. 47 Adding to this phenomenon, the government issues these bonds that serve as a basis of money creation for funding a war such as the immediately declared quotwar on terrorquot, engaging the Tomahawks from Raytheon. And here it may again be useful to have a quick look at the quotcui bonoquot relationship: The US Federal Reserve creates money to fund the war and lends it to the American government. The American government in turn must pay interest on the money they borrow from the Central Bank to fund the war. The greater the war appropriations, the greater the profits are for bankers. 48 A multi-layered combination, one could say. I also talked about the topic of 911 insider trading with one of the worlds leading practitioners at the interface between the international capital markets, the national security policy of the US as well as geopolitics, James G Rickards. He gave me some answers in a personal discussion, which I am allowed to repeat here with his expressed approval. Question: Did suspicious trading activities of uncovered put options on futures markets occur shortly before 911 James G Rickards: Well, the trading documents certainly look suspicious. بل هو مجرد حقيقة أن قدرا كبيرا غير عادي من المشتريات من وضع الخيارات لشركتي الطيران وقعت خلال ثلاثة أيام التداول قبل الهجمات. This is a mere fact, no speculation, no guessing around. This is clearly obvious from the documents of the trading sessions on the derivatives exchanges. Question: Do you think that the intelligence agencies could have got a warning signal based on this information James G Rickards: Theoretically that is possible, if are you are looking and watching out for this. But there was far more significant information, which was ignored. Question: Do you also think that some people with foreknowledge operated speculatively in the option markets James G Rickards: Based on the documentation of the trading session it seems that this has been the case, yes. Lets sum up a bit at the end. We have, among other things: The quotnice detective workquot by Kevin Ryan related to StratesecWirt Walker III. بعض المعلومات غير متناسقة للغاية في مواجهة المعاملات بطاقة الائتمان كونفاريليغال. Scientific papers supporting the allegations that there were indeed unusual trading activities in the option market before the terrorist attacks of 911, although the 911 Commission (based on the investigation of the SEC and the FBI) ruled that possibility out. As it became clear that I would publish this article here at Asia Times Online, I contacted the US Federal Bureau of Investigation via its press spokesman Paul Bresson in order quotto give the FBI the opportunity to give a public statement with regards to three specific issuesquot. Those three specific issues were the ones I have just highlighted. Related to each of them Ive asked Mr Bressonthe FBI: quotCould you comment on this for the public, pleasequot Up to this moment, Mr Bressonthe FBI did not respond to my inquiry in any way whatsoever. Does this come as a surprise Ive also got back in touch with quotars publicandiquot, the firm that does public relations for Convar in Germany. The response said: quotUnfortunately I have to inform you that the status has not changed, and that Convar considers the issue of 911 as dead in general. quot As you have read, the status in August of last year was slightly different. At the end of this article, I should perhaps mention that this research ultimately led to negative consequences for me. After I contacted the FBI, I was informed by the publisher of a German financial website, for which I conducted interviews for a professional fee (and had already prepared more work), that no further cooperation was possible. Now that I will come in one way or another into the focus of the FBI, any association with me would be undesirable. Well, you know the rules. As far as the abnormal option trades around 911 are concerned, I want to give Max Keiser the last word in order to point out the significance of the story. Max Keiser: Regardless of who did it, we can know that more than a few had advance warning - the trading in the option market makes that clear. Notes i. PROMIS was first developed by Inslaw during the 1970s under contracts and grants from the Law Enforcement Assistance Administration (LEAA). These guarantees gave the government licenses to use the early versions of PROMIS but not to modify them, or to create derivative works, or to distribute PROMIS outside the federal government. By 1982, because of strong disagreements over a fee-incentive, Modification 12 Agreement to the original contract, the United States Department of Justice and Inslaw Inc became involved in a widely-publicized and protracted lawsuit. PROMIS was originally designed as a case-management system for prosecutors. (Source Wikipedia.) 1. Compare Michael C Ruppert: Crossing the Rubicon: The Decline of the American Empire at the End of the Age Of Oil . New Society Publishers, Gabriola Island, 2004, page 152. 2. Ibid, page 153. 3. Ibid, page 154-155. 4. Ibid, page 170. 5. Ibid, page 238-253: quot911 Insider Trading, or You Didnt Really See That, Even Though We Saw It. quot 6. Ibid, page 239. 7. Compare Chris Blackhurst: quotMystery of terror insider dealers quot, published at The Independent on October 4, 2001, see here. 8. Compare quotProfits of Deathquot, published at From the Wilderness on December 6, 2001, see here. 9. For the fact, that it was George Tenet who recruited Krongard, compare George Tenet: At the Center of the Storm . Harper Collins, New York, 2007, page 19. 10. Compare Marc Chesney, Remo Crameri and Loriano Mancini: quotDetecting Informed Trading Activities in the Option Marketsquot, University of Zurich, April 2018, online here. 11. Nafeez M Ahmed: Geheimsache 0911. Hintergrnde uber den 11. September und die Logik amerikanischer Machtpolitik . Goldmann Verlag, Munich, 2004, page 182. (Translated back into English from German.) 12. Compare Michael C Ruppert: Crossing the Rubicon . page 244-247. 13. Wing-Keung Wong, Howard E. Thompson und Kweehong Teh: quotWas there Abnormal Trading in the SampP 500 Index Options Prior to the September 11 Attacksquot, published at Social Sciences Research Network, April 2018, see here. 14. Compare quotBank of America among 38 stocks in SECs attack probequot, published at Bloomberg News on October 3, 2001, archived here. 15. Michael C Ruppert: Crossing the Rubicon . page 243. 16. Ibid. 17. quotSuppressed Details of Criminal Insider Trading Lead Directly into the CIAs Highest Ranksquot, published at From the Wilderness on October 9, 2001, see here. 18. Compare quotEarly September 2001: Almost Irrefutable Proof of Insider Trading in Germanyquot, published at History Commons, see here. 19. Allen M Poteshman: quotUnusual Option Market Activity and the Terrorist Attacks of September 11, 2001quot, published in The Journal of Business, University of Chicago Press, 2006, Vol 79, Edition 4, page 1703-1726. 20. Wing-Keung Wong, Howard E Thompson und Kweehong Teh: quotWas there Abnormal Trading in the SampP 500 Index Options Prior to the September 11 Attacksquot, see end note 13. 21. Ibid. The authors refer to Erin E Arvedlund: quotFollow the money: terrorist conspirators could have profited more from fall of entire market than single stocksquot, published in Barrons on October 8, 2001. 22. Wong, Thompson, Teh: quotWas there Abnormal Trading in the SampP 500 Index Options Prior to the September 11 Attacksquot 23. Ibid. 24. Ibid. 25. Marina Alcaraz: quot11 septembre 2001: des volumes inhabituels sur les options peu avant lattentatquot, published in Les Echos, page 34, September 10, 2001, online here. 26. Marc Chesney, Remo Crameri and Loriano Mancini: quotDetecting Informed Trading Activities in the Option Marketsquot, see end note 10. 27. Ibid. 28. ibid. 29. Ibid. 30. Compare Marc Chesney, Remo Crameri and Loriano Mancini: quotDetecting Informed Trading Activities in the Option Marketsquot, published at the University of Zurich on September 7, 2018, see here. 31. Vgl Lars Schall: quotSapere Audequot, German Interview with Dr Daniele Ganser, published at LarsSchall on August 18, 2018, see here. 32. Compare a copy of the letter by the SEC on MaxKeiser, see here. 33. Compare related to this agreement Matt Taibbi: quotIs the SEC Covering Up Wall Street Crimesquot, published at Rolling Stone on August 17, 2018, see here . 34. Mark H Gaffney: quotBlack 911: A Walk on the Dark Sidequot, published at Foreign Policy Journal on March 2, 2018, see here. 35. Compare Peter Dale Scott: quotLaunching the US Terror War: the CIA, 911, Afghanistan, and Central Asiaquot, The Asia-Pacific Journal, Vol 10, Issue 12, No 3, March 19, 2018, see online here. 35. Erik Kirschbaum: quotGerman Firm Probes Last-Minute World Trade Center Transactionsquot, published at Reuters on December 19, 2001, online here. 36. Ibid. 37. Ibid. 38. Michael C Ruppert: Crossing the Rubicon . page 244. 39. Ibid, page 423. 40. Ibid, page 423-426. 41. Commission Memorandum: quotFBI Briefing on Tradingquot, dated August 18, 2003, page 12, online here. 42. Lars Schall: quot911 Was A Fantastically Profitable Covert Operationquot, Interview with Catherine Austin Fitts, published at LarsSchall on September 3, 2018, see here . 43. Ibid. Compare further related to the quotcui bonequot topic Catherine Austin Fitts: quot9-11 Profiteering: A Framework for Building the Cui Bonoquot, published at GlobalResearch on March 22, 2004, see here . 44. Lars Schall: quot911 Was A Fantastically Profitable Covert Operationquot, see end note 42. 45. Compare quotBank of America among 38 stocks in SECs attack probequot, see end note 14. quotA Raytheon option that makes money if shares are more than 25 each had 232 options contracts traded on the day before the attacks, almost six times the total number of trades that had occurred before that day. A contract represents options on 100 shares. Raytheon shares soared almost 37 percent to 34.04 during the first week of post-attack US trading. quot 46. Compare Barry Grey: quotSuspicious trading points to advance knowledge by big investors of September 11 attacks, quot published at World Socialist Web Site on October 5, 2001, see here. 47. J S Kim: quotInside the Illusory Empire of the Banking Commodity Con Game, quot published at The Underground Investor on October 19, 2018, see here. Lars Schall is a German financial journalist. This article is an exclusive, slightly modified and updated excerpt from the book Mordanschlag 911. Eine kriminalistische Recherche zu Finanzen, Ol und Drogen (Assassination 911: A criminalistic research on finance, oil and drugs), published in Germany by Schild Verlag. Copyright 2018 Asia Times Online (Holdings) Ltd. Scroll down to add your comments - Please read our Comment Policy before posting -