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I have an anecdote to share regarding Neiderhoffer. I read Education of a Speculator soon after it was first published. I thought (and still think) it was the best book on speculation ever written. I also admired his intelligence (summa cum laude from Harvard), athleticism (world squash...

"There is little evidence that real estate appreciates in the long run." The above quote is from an adjunct Professor at my business school who owned $60 million worth of apartment buildings. He gave some statistics regarding the price of real estate in Rome going back two thousand years...

Dividend, Great post. I never understand people who "blame the specs" when demand goes up every year and new oil discoveries are less than the yearly consumption year after year. What I find interesting is that demand has increased even in the face of gasoline prices spiking up to...

mtzianos, When is that Petroleum Review report from? It states that between 2003 and early 2007 projected demand is 3 million barrels. Demand in 2004 ALONE was 3 million barrels according to the IEA. The current demand forecasts suggest that demand between 2003 and early 2007 will add up...

No, my statement would imply that no NET new capacity is coming online. Global depletion rates are conservatively estimated at 3% (by Dick Cheney, no less). How much net new capacity will come online is a controversial topic. If you expect the net new capacity to increase by more than 2...

I am highly skeptical that OPEC has any usable oil capacity left. Several industry experts such as Boone Pickens and Matthew Simmons have questioned whether global production can exceed 85 million barrels. The Saudis themselves have talked about increasing their production to 12 millions...

OPEC is TAPPED OUT. They have been saying they have 2Mbpd in extra capacity for the past 1 1/2 years. I'm sure the Saudis were pumping as much as they could last year to help their buddy Bush get reelected (it sure seemed like it from their constant press releases about how they were...

FuturesTrader71 gets my vote. He is a great trader and also a great guy. When he lived in Chicago, I pm'd him and he was willing to meet with me, show me his operation, and gave me some advice.

just21, I don't want to go into my reasoning for the trade.

I said I would furnish proof, if someone will tell me how you want me to do it. Or, if you prefer to believe I am making this up, that is fine also.

The trade was long the DAX contract. I was long 80 contracts from near the open. I sold 30 contracts at around 5:00am (cst). My intention was to sell the remaining during U.S. trading hours. Now I am still long 50 contracts and I obviously can't get out of them. I assume the trade is...

And, I made $49,000.00 in the trade! ROFL! If you don't believe me, I can furnish a screen shot, but you will have to tell me how I can do this. I admit this is one of the dumbest mistakes I have made over the last 8 years. Usually I can get by without knowing the exact rollover date...

Thanks Mark.

What is the difference between the September and the December contract? I am long the September contract currently. But it seems it has shorter trading hours than the December contract. It is currently 11:00cst and the September contract is not trading although the December contract is. I...

Hey bestfriend, Could you explain your rationale for being long these airline stocks? Since they are pretty much guarenteed to eventually go to zero, isn't it pretty much a crapshoot in the short term?

Best day daytrading stocks: $147,000.00 One of those days in '99 when the market was crushed and then bounced back huge. Worst day daytrading stocks: -$50,000.00 I was bottom fishing (huge mistake) in PDLI. I bought 2000 shares, and very quickly found myself down about 25 points...

I have been long oil for the past 18 months. Although I am sitting on a large profit, I can not get myself to sell it during this recent selloff. So I will post my argument for why I think it will continue to go up. I realize I might just be "talking my position" here. Although I think I...

Whatever. Why don't you tell us what the book accuses Milken of doing since you keep mentioning it as if it's the bible? Most of the book doesn't even focus on him, it focuses on others such as Boesky and Levine, both of whom were clearly guilty of insider trading. Milken made his money...

I have read Den of Thieves. But I have come to the conclusion that Milken's conviction was due to: 1) An overzealous NY attorney general with political ambitions (Guiliani). 2) A business establishment that was threatened by Milken's business dealings. So I think he was a scapegoat...

I was just pointing out that you can always use a broker as a broker whether or not you have a prime brokerage relationship with them or someone else. But in my opinion, the only reason to use someone as a prime broker is because you think they will raise money for you.