Recent content by chch66

Joe Trader, Incorrect info on nearly all counts.

The main reason I think the USVI is worth it is due to the keeping the passport (given family reasons and such.) Your article hits it perfectly and is exactly why more and more hedge funds and prop groups are beginning to migrate down to the USVI. $100k and charitable contributs and such are a...

Totally agree that if one gets use out of any indicator it is well worth it for that individual trader. In reply to one of the other posts, if Goldman comes in and buys 300 it matters...a bit. If they come in - or any house for that matter - with scale up buy orders for 1500 SP majors...

There is one tax haven that I don't believe has been covered in this thread...and that is the US Virgin Islands. As long as you employ a certain number of native Islanders full time, you will enjoy a US Tax rate of 5%. It will cost you about $500,000 in employee costs and the employed...

Well...we can agree to disagree. However, I will just say that many of the calls by a box are ficticious. They are used for excitement and "value" to the customer. We've had our own group in the pit since '96, so I do have a general idea about this. My only other commment would be this ...

I can tell you for a fact that nobody on the institutional side is trading "bigs" only. 70 contracts by GS followed by selling 55, leading to a selloff? Not a chance. The orders are split between screen and pit, artificially bidding the minis to trade into the desks existing offers in the...

Are you serious? Phibro is one of the ultimate trading houses for commodities on a global basis. Traders need the balance sheet and Hall is no different. Why would one start their own firm when his team gets 30% of the profits and uses the banks balance sheet? Plus - he does not have to...

No need to use a box...lots of artifical calls throughout the day in terms of buyers/sellers. Amazing these guys are able to sell a service that is rarely the primary market. A few years ago it was somewhat worth a little pit noise...now everyone offsets trades in the minis and these guys...

Locals trade with other locals all day long as well as offset the majority of their trading in the eminis. Very little paper in the market since Dec '09 as Algo prop have increased their activity by nearly 50% year on year according to the latest CME volume figures. Some paper on the open...

Only the Energy complex opened early today...equity index futures open at the regular time (5pm CST).

I am the only one that this thread pretty funny. I'm agnostic towards Cramer, but the idea that a couple of clerks on an SP box are making fun of him and his calls makes one wonder...basically I would take Cramer all day plus Sunday over a couple of bust out wanna be traders trying to quote a...

Tokyo, I think you need to visit your facts regarding Dennis. He has managed public money 2 times in his career. The first was the debacle through Drexel that I referred to (lost about 180mln). The second was the small fund through Mesirow a few years back. As a Chicago based trader and...

Tokyo, I would rethink Richard Dennis in your inclusion of the traders you mention. He blew up his first fund through Drexel 20 years ago...then relaunched in 2003 with 10mm under management through Mesirow Financial in Chicago. He made +38% the first 9 weeks of trading...and was shut...

Igor has been insignificant for years now in the minis...he took a beating in 05 and has watched the Jump Trading's of the world do the same tricks on him that he used to do with the rest of the market. There is no subsitute for the speed of the algo's.

Interesting thread as futurescalper seems to know exactly what he wants out of the market and why he is in this business. On the flip side I have seen many traders blow out and the reason is simple...they are in this game for a different reason. These are players that have made and lost...