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Chris Scoreboard Johnston
ParticipantThe other incorrect portion of that is the commentary on Oil. As per my post in the commodities thread, what is asserted in this article is not what caused $4 gas prices. GS simply housed the accounts of the Speculators that were able to have unlimited longs due to being classified incorrectly as commercials by the CFTC.
However, I do agree on the general premise that life is an insiders game and GS definitely one of the insiders.
ParticipantThe other incorrect portion of that is the commentary on Oil. As per my post in the commodities thread, what is asserted in this article is not what caused $4 gas prices. GS simply housed the accounts of the Speculators that were able to have unlimited longs due to being classified incorrectly as commercials by the CFTC.
However, I do agree on the general premise that life is an insiders game and GS definitely one of the insiders.
ParticipantThe other incorrect portion of that is the commentary on Oil. As per my post in the commodities thread, what is asserted in this article is not what caused $4 gas prices. GS simply housed the accounts of the Speculators that were able to have unlimited longs due to being classified incorrectly as commercials by the CFTC.
However, I do agree on the general premise that life is an insiders game and GS definitely one of the insiders.
ParticipantThe other incorrect portion of that is the commentary on Oil. As per my post in the commodities thread, what is asserted in this article is not what caused $4 gas prices. GS simply housed the accounts of the Speculators that were able to have unlimited longs due to being classified incorrectly as commercials by the CFTC.
However, I do agree on the general premise that life is an insiders game and GS definitely one of the insiders.
ParticipantThere is not a long term bull market in commodities. If you just look at monthly charts in commodities what you will find is that big runs both up and down get fully retraced, more like an EKG look that say a chart of the Dow since 1900. The commodity index funds being wonderfully misclassified by our good friends in the US Government and the CFTC is what allowed Large Speculators to bid the price of many of them up last year without the normal position size limits that have historically been there for speculators.
Only commercials are allowed unlimited position size because they are hedgers. When they allowed these funds last year to open accounts at GS as commercials, it essentially gave them the ability to use insane leverage to bid the prices up. This is why those of us who knew this was happening were calling the Crude $200 calls ridiculous, because we knew at some point when even the slightest retracement happened, it was going to be a race to the exits.
Now that Congress the worlds savior has had hearings and decried, well if we only knew this etc… Of course they did all along. An acquaintance of mine told them of this 3 years ago and was laughed out of their chamber.
Net, we will have volatility as we have seen, but there is not a long term uptrend. Rogers has made more money than I ever will, and I cannot represent that I am a better trader than he is. However, this is what I know to be true. I do not know where he gets his take on this. Don’t bet the farm on this.
ParticipantThere is not a long term bull market in commodities. If you just look at monthly charts in commodities what you will find is that big runs both up and down get fully retraced, more like an EKG look that say a chart of the Dow since 1900. The commodity index funds being wonderfully misclassified by our good friends in the US Government and the CFTC is what allowed Large Speculators to bid the price of many of them up last year without the normal position size limits that have historically been there for speculators.
Only commercials are allowed unlimited position size because they are hedgers. When they allowed these funds last year to open accounts at GS as commercials, it essentially gave them the ability to use insane leverage to bid the prices up. This is why those of us who knew this was happening were calling the Crude $200 calls ridiculous, because we knew at some point when even the slightest retracement happened, it was going to be a race to the exits.
Now that Congress the worlds savior has had hearings and decried, well if we only knew this etc… Of course they did all along. An acquaintance of mine told them of this 3 years ago and was laughed out of their chamber.
Net, we will have volatility as we have seen, but there is not a long term uptrend. Rogers has made more money than I ever will, and I cannot represent that I am a better trader than he is. However, this is what I know to be true. I do not know where he gets his take on this. Don’t bet the farm on this.
ParticipantThere is not a long term bull market in commodities. If you just look at monthly charts in commodities what you will find is that big runs both up and down get fully retraced, more like an EKG look that say a chart of the Dow since 1900. The commodity index funds being wonderfully misclassified by our good friends in the US Government and the CFTC is what allowed Large Speculators to bid the price of many of them up last year without the normal position size limits that have historically been there for speculators.
Only commercials are allowed unlimited position size because they are hedgers. When they allowed these funds last year to open accounts at GS as commercials, it essentially gave them the ability to use insane leverage to bid the prices up. This is why those of us who knew this was happening were calling the Crude $200 calls ridiculous, because we knew at some point when even the slightest retracement happened, it was going to be a race to the exits.
Now that Congress the worlds savior has had hearings and decried, well if we only knew this etc… Of course they did all along. An acquaintance of mine told them of this 3 years ago and was laughed out of their chamber.
Net, we will have volatility as we have seen, but there is not a long term uptrend. Rogers has made more money than I ever will, and I cannot represent that I am a better trader than he is. However, this is what I know to be true. I do not know where he gets his take on this. Don’t bet the farm on this.
ParticipantThere is not a long term bull market in commodities. If you just look at monthly charts in commodities what you will find is that big runs both up and down get fully retraced, more like an EKG look that say a chart of the Dow since 1900. The commodity index funds being wonderfully misclassified by our good friends in the US Government and the CFTC is what allowed Large Speculators to bid the price of many of them up last year without the normal position size limits that have historically been there for speculators.
Only commercials are allowed unlimited position size because they are hedgers. When they allowed these funds last year to open accounts at GS as commercials, it essentially gave them the ability to use insane leverage to bid the prices up. This is why those of us who knew this was happening were calling the Crude $200 calls ridiculous, because we knew at some point when even the slightest retracement happened, it was going to be a race to the exits.
Now that Congress the worlds savior has had hearings and decried, well if we only knew this etc… Of course they did all along. An acquaintance of mine told them of this 3 years ago and was laughed out of their chamber.
Net, we will have volatility as we have seen, but there is not a long term uptrend. Rogers has made more money than I ever will, and I cannot represent that I am a better trader than he is. However, this is what I know to be true. I do not know where he gets his take on this. Don’t bet the farm on this.
ParticipantThere is not a long term bull market in commodities. If you just look at monthly charts in commodities what you will find is that big runs both up and down get fully retraced, more like an EKG look that say a chart of the Dow since 1900. The commodity index funds being wonderfully misclassified by our good friends in the US Government and the CFTC is what allowed Large Speculators to bid the price of many of them up last year without the normal position size limits that have historically been there for speculators.
Only commercials are allowed unlimited position size because they are hedgers. When they allowed these funds last year to open accounts at GS as commercials, it essentially gave them the ability to use insane leverage to bid the prices up. This is why those of us who knew this was happening were calling the Crude $200 calls ridiculous, because we knew at some point when even the slightest retracement happened, it was going to be a race to the exits.
Now that Congress the worlds savior has had hearings and decried, well if we only knew this etc… Of course they did all along. An acquaintance of mine told them of this 3 years ago and was laughed out of their chamber.
Net, we will have volatility as we have seen, but there is not a long term uptrend. Rogers has made more money than I ever will, and I cannot represent that I am a better trader than he is. However, this is what I know to be true. I do not know where he gets his take on this. Don’t bet the farm on this.
ParticipantIt is about time for his famous, F… you I won take isn’t it? Usually when there are disagreements that is his final say on it. The Ultimate Scoreboard Take. I hate Obama but love that take, it is hysterical.
It is time to move on, even if something is amiss here it is too late. They did get over on the public and we are seeing what a terrible mistake those who voted for him made. However, having him thrown out now leaves us with the village idiot as president which might be worse.
ParticipantIt is about time for his famous, F… you I won take isn’t it? Usually when there are disagreements that is his final say on it. The Ultimate Scoreboard Take. I hate Obama but love that take, it is hysterical.
It is time to move on, even if something is amiss here it is too late. They did get over on the public and we are seeing what a terrible mistake those who voted for him made. However, having him thrown out now leaves us with the village idiot as president which might be worse.
ParticipantIt is about time for his famous, F… you I won take isn’t it? Usually when there are disagreements that is his final say on it. The Ultimate Scoreboard Take. I hate Obama but love that take, it is hysterical.
It is time to move on, even if something is amiss here it is too late. They did get over on the public and we are seeing what a terrible mistake those who voted for him made. However, having him thrown out now leaves us with the village idiot as president which might be worse.
ParticipantIt is about time for his famous, F… you I won take isn’t it? Usually when there are disagreements that is his final say on it. The Ultimate Scoreboard Take. I hate Obama but love that take, it is hysterical.
It is time to move on, even if something is amiss here it is too late. They did get over on the public and we are seeing what a terrible mistake those who voted for him made. However, having him thrown out now leaves us with the village idiot as president which might be worse.
ParticipantIt is about time for his famous, F… you I won take isn’t it? Usually when there are disagreements that is his final say on it. The Ultimate Scoreboard Take. I hate Obama but love that take, it is hysterical.
It is time to move on, even if something is amiss here it is too late. They did get over on the public and we are seeing what a terrible mistake those who voted for him made. However, having him thrown out now leaves us with the village idiot as president which might be worse.
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