Sell, Sell!
- Thread starter rmorse
- Start date
LOL Good one.
Never short Chicago Snow in March. The weather expression/heuristic from folk wisdom is " In like a Lion out like a Lamb" or vice versa. Being fresh off the banana boat, I didn't know this.
The guys at the CME were unofficially trading total monthly snowfall in inches. It was a warm month, so I started shorting boat loads of snow at 3 inches. (Don't ask me about delivery or margin, there wasn't any.) 1 week left to go and I wasn't letting anybody out below 5. Even got into a shoving match..over Snow!!
Well, the old saying proved true. It came in is a Lamb and came out as a Lion. 5-6 inches, if I recall. Lost a month's pay and a little tuition money.
Incidentally, I am out oil and gold.
The guys at the CME were unofficially trading total monthly snowfall in inches. It was a warm month, so I started shorting boat loads of snow at 3 inches. (Don't ask me about delivery or margin, there wasn't any.) 1 week left to go and I wasn't letting anybody out below 5. Even got into a shoving match..over Snow!!
Well, the old saying proved true. It came in is a Lamb and came out as a Lion. 5-6 inches, if I recall. Lost a month's pay and a little tuition money.
Incidentally, I am out oil and gold.
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I found this on my LinkedIn feed.
I am long the chicago/miami snow synthetic spread.
The And It's Gone South Park clip is always good for a laugh.
Or that Simpsons clip:
I invested in pumpkin futures. They've been going up the whole month of October. I think they'll peak around mid January.
I invested in pumpkin futures. They've been going up the whole month of October. I think they'll peak around mid January.
LoL. I am glad we didn't have that around the time I traded snow.
I think the wolf of Wall Street guy was a size buyer of snow too