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This is when MM’s get absolutely hosed. I’ve really hurt some MM’s badly when I traded OTC energy. As a Commercial producer I had inside information.

They deal in MegaWatts. A public power authority isn’t going to be able to be a merchant power marketer on the scale of a privately owned generator, and I’m sure CAISO is more than pleased to buy their excess power during Summer (they are quite fortunate TBH).

Well, if you ever want to work at a hedge fund or a bank desk or a top tier prop firm like DRW it is a necessary skill.

From what I've seen, day trading is much harder than it used to be - at least with futures. The only real exception that I've seen has been the rare bird with a well designed automated trading system running through a very good ECN. When I was in the Pit, I had about a half-second speed...

So this is a spread differential. It is a Eurodollar Condor. This trends and behaves much much better than the outright STIR instruments. And it illustrates my point nicely about a really well behaved quite obvious spread trend. In this case, if you bought the Wings and sold the Body of this...

Spread trading has nothing to do with the direction of one leg as you mentioned, it has everything to do with the trend (direction as you call it) of the spread differential. ;) We are modeling and trading the trend. And spread differentials tend to trend really well.

I would guess that 80 percent of the people posting on this forum are chronic faders. They would fade any move. And that's really unfortunate. There are a thousand posts on this forum about how Tesla is overbought. Been that way for years, now. But whoever is long TSLA from 2019 levels or...

That sounds just like you. Why make 400 % in a matter of months when you can fight the universe with a short on a name with an ardent cult following.

Must be a bitch to be short TESLA.

So when this comes to naught by close today, will you stop it with these "be very careful tomorrow guys" posts? (and why be careful "tomorrow" in the thread title and then be careful in the next "3-4 trading days" in your OP) Yes, we are going to come off. Traders don't climb a mountain of...

You have no idea how and why commercials hedge or institutional investors run a relative value portfolio, I take it?

So, I was asked for my opinion, and I'll give it. Hopefully I won't piss off any clients. Don't ask me to prove anything or post data because I won't. Paying clients get that. Maybe my experiences and thoughts will provoke a spark of creativity or help somehow. I'm almost certainly not...

NASDAQ was crazy bid all day long.

You've got it backwards. I passed the Series 3 exam. Who did the customers sign over power of attorney to make trades on their behalf? Not FC Stone, clearly. There wouldn't even be a lawsuit if that were the case.

Yes, if anyone at FC Stone had knowledge that customers were using IRA funds for futures trading then that would be a huge issue for them.

I am not an attorney. But the Commodity Exchange Act has a fairly narrow window of fiduciary obligations for FCM's. The Agents of the FCM of course are liable for any representations they make to clients. But most of the CEA and CFTC legislation involves the segregation of customer funds when...

If you know anything about Citi, this sounds just like them. Idiots.

I really empathize with these victims. At the risk of sounding base, unless FC Stone was one of the limited partners in the investment vehicle structure I’m not confident that the lawsuit will prevail. My sense (and guess) from reading the article was that James Cordier managed the slick trick...

Having both day traded and swing traded, if you asked me which method would be more profitable to MASTER - I would say swing trading hands down. Your broker would much prefer you to day trade. Just my opinion, YMMV. I wish everyone good fortune!

I’m simply saying that the business models and revenue streams of the NASDAQ composite index Companies present day are much more diverse and fundamentally different in nature than the Companies that comprised the index in ‘99 and ‘00. The dot.com bubble was rampant speculation on how the...