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I agree with you on that. My friends and I take hypothetical swing trades on CL and our latest one is long yesterday @ 81.30, stp 80.30, tgt 84.30. I personally moved my hypothetical stop to b/e
OMG! The CME just raised margin requirements on butter!!! This is it!!! --- Ahem, they're raising margin requirements in several commodities (soybeans, blah, blah) and forex futures (aussie, euro, pound, swissy). Nothing dramatic, though, like 10-20%, so this shouldn't have a cascade effect like when they raised margins in sugar and silver (60% I think it was). http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv10-469.pdf
Wow, Picaso, you have to be careful posting a document like this. My head is pretty much spinning with new information and I'm not sure I'll be recovered enough by tomorrow to trade effectively. You can trade butter??? If you're long butter, cocoa, wheat and sugar, should you buy some calendar spreads to frost the cookies with? Just how small are "mini-sized soybeans"? Does this mean I can request mini-sized edamame to accompany the "soybean crush combo" at my favorite sushi bar? If I trade "rough rice", do I need to hedge with "nymex cotton" in case the rice gets a little too rough? Most importantly, how long do you have to live in Chicago before the phrase "Wacker Drive" stops making you giggle relentlessly.
Try living in Michigan. There is an exit 69 off I-75 at Big Beaver Road in Troy, talk about the giggles!