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TFC Commodity Trading Forum

Re: Options talk from a guy, Wayne
In Response To: (Message Deleted by Poster) ()

Mr. Fisher,
Every forum got their crap. You sure don't suffer no fools and no doubt, Market Forum got more than their fair share. Fools, fakers, jesters, clowns, you name it. And that daily summary, yeah, less than useless, really...

Reason I posted in the first place is that guy stimpy suggested buying a cotton spread, July over December, back when it was 2 cents to the minus, and now its 3 cents to the plus. That's about $2500 on a spread margin of about $300. Now, I know that you post the cotton charts and aware the move its made. What I'm saying is that I missed the entire cotton ride, partly for not wanting to get in a raw outright future. But I also saw the spread recommendation on the day that it was made and didn't take that either. Why, because I thought that it was lame and how was anybody gonna make any real coin on such a tiny margin risk. And finally, I didn't buy a call option either. Stimpy goes on to say that he used ongoing spread position profits to even finance the purchase of call options on the cotton, rendering them free, so to speak.
http://www.marketforum.com/?id=1220617

Bottom line, I've looked at alot of newsletter writers and advisers and they are mostly baloney pushers. There's a guy that contributes to the barchart site that is a doctor for crying out loud, no trading or adviser certification. He called for a Wolfe Wave bottom in the cocoa a few weeks back, an immediate buy for a rocket up. Fail, new lows. And again he cries Wolfe, calling for another Wolfe Wave bottom, just ignoring his previous blown call. Sure enough, bottom falls out again. Nothing from him until yesterday, calling for a Wolfe Wave bottom in cattle, rocket to the top imminent, buy now. Today the floor falls out from underneath the meats... Man, I wouldn't want him as my doctor, sheesh! I actually looked him up on doctor review sites and he's not that hot. How can he focus on a patient when losing his ass in the markets every dang time! Apparently a great fade, though. Here's his latest fail:
http://www.barchart.com/headlines/story/9124149/livestock-live-cattle-futures-chart-bullish-wolfe-wave-to-130s

Long story short, the guy stimpy was a broker and got out the biz, having seen alot of hero to zero scenes first hand. If he's got an angle on low margin, lower risk spread trading and option suggestions, then I gotta give it a listen. Been an outright futures trader and losing my whole life, now I finally treading water but its taken its toll, nerves and all. Feels like being plugged into an electric wall socket much of the time. Getting older almost 60 now and with 22 grand left to trade, would love to keep the profit potential without the stress. Kinda like, great taste, less filling ad for beer.

Hope I haven't bored you too much Wayne. And yeah, those air rifles they got now are really something. Custom big bore makers are booked solid.
http://www.quackenbushairguns.com/LA_Outlaw.htm