Home About Millennium Forum Guide to Services Trial Subscribe Member Login
Live chat by Boldchat

Stocks Trading Room
Futures Trading Room
Forex Trading Room
Options Trading Room
Chart Settings
Triple Access
Double Access
Stocks Trading Room
Futures Trading Room
Forex Trading Room
Options Trading Room
Market Commentary
Economic Calendar
Weekly MarketNews
Trader Tips
Market Alerts
Stocks Chat Room
Futures Chat Room
Forex Chat Room
Options Chat Room
Penny Stocks Chat Room Trading Rooms
Performance Tracking
Other Services
General Information
Stocks
Futures
Forex
Options
Penny's
FREE e-Book
Taking Day Trading
by Storm


Get into the basics on how to become a Professional Day Trader!

more info...







IRS Scandal Exploding

IRS Scandal Exploding IRS Scandal Exploding

The Internal Revenue Service scandal shows no sign of going away any time soon but instead, appears to be exploding. The abuse of power by IRS officials and employees is unspeakable. Both sides of the political isle are voicing comments of utter disgust at wasteful spending of an agency that focuses on making innocent tax payers account for every last cent of personal spending. A report by the inspector general released on Tuesday showed that the IRS spent nearly $50 million on 225 conferences between 2010 and 2012. A meeting for 2600 IRS employees in Anaheim, California during August 2010, cost more than $4 million including event planners' commissions, speakers' fees, guest prizes and parody videos. Acting IRS Commissioner Danny Werfel said one of the conferences was geared to train new managers of the agency’s auditing group, many of whom were relatively new at the time, on employee safety and security training. Werfel said that while the purpose of the trip was legitimate, many of the expenses were not and vowed the practice would not continue. Tax payer dollars funded the $50 million conferences and not one of us is happy about it. Reportedly, nearly $3.2 million came from unused funds allocated for hiring by the IRS - the very same year the IRS began to single out conservative and tea party groups that sought tax-exempt status, in part because the agency said it did not have the personnel to handle increased applications that year. IRS chief financial officer, Pamela LaRue noted, "The expenditures related to this 2010 meeting are not reflective of the current spending environment at the IRS or the spending that has occurred over the past several years." The IRS also reportedly cut training costs and reduced spending on meetings by 87% since 2010." Although the average cost per employee was reasonable, the IRS recognizes that a number of less significant costs warranted additional scrutiny and were not the best use of government resources," LaRue wrote. LaRue defended the need for large-scale conferences at the time, noting that nearly a third of managers in the division under scrutiny were inexperienced. She also associated the massive wasteful spending on added concerns about security after a Texas man crashed his plane into the IRS office in Austin, killing himself and two other people. According to reports, two Internal Revenue Service officials Fred Schindler and Donald Toda are accused of accepting more than $1,100 in food and gifts during a 2010 conference in California. Schindler reportedly is a top aide to Sarah Hall Ingram, chief of the IRS’s health-care office. Ingram reportedly presides over the office that approved tax exemptions when conservative groups allegedly were targeted.

Reportedly late Wednesday, Rep. Michael Capuano - Democrat from Massachusetts, filed a bill - H.R. 2266 - that would require banks with $500 billion or more in assets, to set up a special reserve account filled with additional capital beyond that agreed to in a global agreement on capital buffers at the biggest banks. The Federal Reserve and recently created Office of Financial Research would calculate the size of an implicit subsidy each bank retains because of expectations on the part of creditors, shareholders and counterparties that the government will shield those stakeholders in the event of a 'big bank’s' failure. The bank will keep an additional capital buffer in the reserve account based on that amount. The bill is complementary, to legislation introduced in April in the Senate by Senator Sherrod Brown, Democrat of Ohio and Senator David Vitter, Republican of Louisiana. That bill would require large financial institutions with more than $500 billion in assets hold more than 15% of their assets in equity. The Basel III would have the biggest banks calculate their capital by looking at tangible common equity rather than risk-weighted system that is currently included in the global agreement. If approved, the bill would hit the six biggest banks with more than $500 billion in assets: Bank of America (BAC), Citigroup Inc. (C), Goldman Sachs (GS), J.P. Morgan Chase (JPM), Morgan Stanley (MS) and Wells Fargo (WFC). Banks will be permitted to reduce the amount of capital in their reserve account when they remove units.

U.S. Labor Department reported on Thursday that during week ending June 1, the number of people who applied for new unemployment benefits fell by 11,000 to 346,000 and initial claims remained in range that indicates a modest improvement in job-market trends. Average new claims rose by 4,500 to 352,500 to mark the highest level in six weeks. For week ended May 25, continuing claims fell by 52,000 to a seasonally adjusted 2.95 million.

At the conclusion of its meeting on Thursday, the European Central Bank voted to maintain its key lending rate at a record low 0.5% and held its deposit rate, which it pays banks on reserves held at the central bank, at zero.
 

Milestone for Millennium-Traders, we are extremely proud to be one of the top 1% most viewed LinkedIn profiles for 2012.

One week trial to our Day Trading Rooms for stocks, futures, forex and options.

Live Stocks trading calls focus on NYSE, NASDAQ and AMEX.

Live Futures trading calls focus on YM, NQ, ES and TF.

Live Forex trading calls based on New York trading session focus on GBPUSD, USDCAD, USDJPY, EURUSD, GBPJPY, USDCHF, EURJPY, EURAUD, AUDJPY, CHFJPY, EURCAD, GBPCAD and AUDUSD.

Live Options Trading Room focus on CBOE.

Double Down Offers on Subscriptions... monthly rates as low as $75 per month plus, weekly subscriptions now available.

Free e-BOOK on Day Trading with confirmed subscription to our Free Weekly MarketNews newsletter.

Professional Training Programs available for stocks, futures, forex and options traders.

Detailed historic performance for all calls is available on our Market Commentary page.

Opt-in to our free Weekly MarketNews sent via email, first trading day of the week which includes recap of markets from previous week and what is ahead for the upcoming trading week.

Monthly Trading Lesson provides new trading subject every month.

Register now for our Free Chat Rooms - penny stocks, options, stocks, futures and forex! Chat with other traders any time, day or night, 24-hours a day.


June 6, 2013


Top of the page


   

Performance
Stocks Trading Room
Total for Year
Last Week
$70,240.00
$0.00
Futures Trading Room
Total for Year
Last Week
$85,270.50
$0.00
Forex Trading Room
Total for Year
Last Week
$251,937.90
$0.00
Options Trading Room
Total for Year
Last Week
$145,900.00
$0.00
empty
Total for Year
Last Week
$0.00
$0.00
News & Commentary

Forex Day Trading Room Performance for May 6, 2016

Futures Day Trading Room Performance for May 6, 2016

Forex Day Trading Room Performance for May 5, 2016

Futures Day Trading Room Performance for May 5, 2016

Stocks Day Trading Room Performance for May 5, 2016

Forex Day Trading Room Performance for May 4, 2016

Futures Day Trading Room Performance for May 4, 2016

Forex Day Trading Room Performance for May 3, 2016

Futures Day Trading Room Performance for May 3, 2016

Stocks Day Trading Room Performance for May 3, 2016


News & Commentary

Monthly Trading Lesson


RSS Feed...
subscribe by
clicking on above

Social Networks...
subscribe by
clicking Icons below