Yeah, I hear you and I can't disagree....but wow, things are really out of control when an exchange "pins" the close and then moves the price right down to where it should have been before the close. Terry Duffy and the CME officials can go F-themselves in their luxurious Chicago mansions. To me, the CME is a big, sophisticated arcade.....with : 1) exhorbitant fee income https://www.prnewswire.com/news-rel...quarter-2020-financial-results-301048839.html The CME Group is actually one of the most profitable companies in the USA.....thanks to the fees that WE PAY. They base their fee rates from European exchanges which do small fractions of volumes compared to the CME volumes. That's how they justify these F-ing high exchange fees. It's a ruse. 2) give preference to the order book for HFT firms which take away from our potential profitability 3) allow hedge funds and HFT's the ability to spoof and take advantage of the ES/NQ order book's limitations. If you want to read about all of this, get this book: It tells all about a smart trader that figured out their schemes and then figured out how to beat them. Then they took his profits and forced him to stop trading. It's a heckuva story because he made $70 million before they stopped him. True story. Bottomline is: we cannot trust this exchange.
Sorry, I meant to refer to the "big boys" who are in bed with the exchange with their huge volumes. I am talking about Goldman Sachs, Morgan Stanley, Deutsche Bank, JP Morgan, etc.
Well, I want to dedicate this article to "TheApprentice" who has had so much success lately in both US and European futures markets. I had no idea how much influence the DAX futures had. After Friday's actions in the European markets, I am now a believer....despite the fact.... that specific rally was a huge "head-fake" for US equity and futures markets on Friday. https://markets.businessinsider.com...h-book-excerpt-liam-vaughan-2020-5-1029208473
Dear Chairman Powell, I have been a long term admirer of your work (especially this year mid march onwards). While a lot of people claim (and you yourself have) you have unlimited power, deep in our hearts you and I know you don't. I see you are reducing your involvement lately (prudently I might add). However (yea, one of those letters where a new paragraph starts with However. Whatever), I am writing this note to you to make an exception. For some stupid reason my so-called "system" has put me long in this market at these insane levels. I know I have to take the 40% of times when it is supposed to stop me out, but I don't want to. So is there any way you can put some more money into your treasury ops, just for next week. I promise I will rework my system afterwards. Sincerely WNT ps1. This being the worlds leading financial forum thread, I hope you are reading it on sundays in addition to your morning perusal of these posts during weekdays ps2. If you send me your paypal account, I can send a 50$ Father's day gift card, if that helps.
Zandty - the only thing I could find is this: https://www.timberindustrynews.com/softwood-lumber-production-u-s-rises-5-2-q1-2020/ The other things....and the usual in today's markets: 1) short covering 2) massive Fed liquidity affecting any and all markets...i.e. providing hopes for a rebound in construction
Buy this dip. 3045 I wish I'd have been here earlier. I'd have screamed at 3030. Why? I can't give ya a reason. But its going up. Ignore the noise.
Its the Fed. Demand will surge. The people that aren't coming back to work because of Covid, they aren't building homes anyway. Multi-family is on fire.... I could do the B1 and find a few posts I wrote about this over the last 6 months... both pre and post Covid. Here's the other thing. As it stands right now.... who is going to put their aging parent into an old folks home? I mean for real. "Sorry mom, you have to move out of your house of 40 years and move into the Sunrise@Coral Gables Phase II assisted living." "!@#$#$%$%" "!!!!... No I'm not trying to kill you!". So a lot of these houses are not going to enter the market. There is no option. Build more. Both single and multi-family. Like I always say.... buy the right land. In a tax-free state.