Zero Hedge ran a post today about the fact that subscribers can pay for a 3 minute advance look at the Chicago PMI before it is released to the “general public”. The Chicago PMI “indicates how vibrant regional manufacturing activity is. An index value of 50 or higher indicates increasing busi-ness activity; below that indicates decreasing activity”. Today the PMI for September came in at 46.1 which was below the estimate of 52. The market tanked exactly 3 minutes before the PMI number was released to the general public.  Bespoke Investments says it all:

While there appears to be nothing illegal taking place, it does provide another example of how the market is stacked against the individual investor.

Chicago PMI

While it is true that there is nothing currently illegal taking place —–it should be made illegal. Imagine if a company CEO said he was going to sell subscribers to his newsletter a 3 minute advance look at his company’s sales, orders or earnings? Yet the firm that compiles the Chicago PMI (Kingsbury International) gets to sell market moving information in advance to a select few well heeled folks…  The SEC will probably start it’s own advance-look-at-information vending arm soon…like the NYSE has already done.  It’s a hell of a set-up the crooks have built for themselves.