How many of you guys are catching Oscars' videos on YouTube? Last night he made a great call on the S&P futures, anyone make that trade?? Great stuff for the 2 weeks I have been with him. He was in the NY Post recently as well. http://www.youtube.com/futuresanalysts
Why is he trading the CBOT instead of the Globex gold? He is a COMEX guy isnt he? He is definetly the Cramer of the futures market. He should be on CNBC soon.
I posted this already but, these Losers called me a troll...LOL The guy is legit if you know how to trade. But, if you want the guy to make money for you then you put him down. What these idiots don't realize is; his service is free. His energy is for entertainment only. Kramer sucks and he's not a trader.
Maybe someone has already posted this, interesting read, includes a bit about Oscar: Stranded by Street, ex-traders seek rebirth Electronic markets erode a way of life; some expats struggle to relaunch careers Crain's New York Business By: Aaron Elstein Published: February 18, 2007 - 12:57 pm Linda McBurney worked at the New York Stock Exchange for more than a decade, jostling with hundreds of other traders barking "buy" and "sell" orders. Not anymore. Over the past couple of years, as firms increasingly used computers to make trades, Ms. McBurney realized that her career prospects were bleak. Last July, she left to find a new job. She's still looking. "I'm at a point in my life where I'm trying to reassess why I was put on this planet," she says. She's got plenty of company. The explosion of electronic trading, which is changing the way New York's stock and commodity exchanges operate, is also eliminating hundreds of jobs. The transformation is slowly but surely cutting off the livelihoods of a generation of Wall Streeters the high-energy traders in the colorful jackets who have long been the public face of the exchanges, and who now number a mere 4,000. "There's a sense of lament over what's happening," says Caitlin Zaloom, an anthropologist who teaches at New York University and who wrote a book about the cultural shift taking place at exchanges, called Out of the Pits. Many former traders made big money generating incomes in the high six figures and up even if they lacked M.B.A.'s and fancy pedigrees. Ms. McBurney, for example, has a fine arts degree from the Parsons School of Design, and she worked as a jockey at two New Jersey racetracks before heading to Wall Street. "People didn't need connections or a Harvard degree to make it as floor traders," says Ms. Zaloom. "All they needed was a little money and a high tolerance for risks. That opportunity is going away with the abandonment of the trading floor." The numbers illustrate how quickly the opportunity is vanishing. As recently as two years ago, floor traders at the New York Stock Exchange dealt with about 90% of all orders; now they handle 20%. Firms with large floor-trading operations, such as LaBranche & Co. and Bank of America, have let go of hundreds of employees. At the New York Mercantile Exchange, the world's largest marketplace for crude oil, electronic trading volume hit 625,000 futures contracts per day in January, a fivefold increase over year-earlier levels. Meanwhile, orders sent to the floor dropped by 30%, to fewer than 400,000 contracts per day. Exploring options Ms. McBurney says she's exploring lots of career paths, but she hopes to join a money management firm as a trader. Many other floor traders are trying new professions, however. John Barrett left the stock exchange last summer after more than 20 years on the floor. He is trying to get a job as a compliance official at a brokerage firm, or as a schoolteacher near his New Jersey home. He has taken courses at Monmouth University toward his teaching certificate and has done some substitute work. But he hasn't found full-time employment yet. "I'm 48 years old and the father of four girls," Mr. Barrett says. "My feet are to the fire." A flying leap into the unknown poses too great a risk to suit most floor traders, so many of them are trying to reinvent themselves as electronic traders. The trouble is that the attributes that made these individuals successful on a rough-and-tumble trading floor a loud voice and a keen ability to read a rival trader's body language are of no use to someone making trades on a computer screen. Savvy screen traders have a different profile. Many have advanced degrees in mathematics or computer science, and they all have the finger speed of an expert video-game player. "I doubt more than 10% of floor traders will evolve into successful electronic traders," remarks Ms. Zaloom. Michael "Oscar" Carboni is trying to beat the odds. He left his job on the Nymex floor at the end of 2005 and spent most of last year figuring out his next move. He finally decided to convert the garage behind his Staten Island house into a trading desk. Mr. Carboni has invested $50,000 in equipment, including a Toshiba laptop and five wall clocks displaying the time in London, Tokyo and other market centers. The 42-year-old father of three now trades futures contracts from his computer, sometimes working 22 hours a day. He posts market commentaries on YouTube six days a week in hopes of building a following. The mother of reinvention If the venture pays off, Mr. Carboni wants to move his family to Las Vegas, where he would continue trading, build a consulting business that would teach other people to trade, and develop a home renovation business. "You've got to reinvent yourself," says Mr. Carboni, who dropped out of the College of Staten Island and quit a job slicing cold cuts at Waldbaum's 25 years ago to trade metals at Nymex. "No sense crying over what was but isn't anymore." The most difficult adjustment for floor traders may be that whatever profession they choose, they will probably never earn anything close to the money they raked in before. Ex-floor traders say they were able to make as much as $80,000 a day by watching others and sensing where the market was going. For those trading over screens, it's tough to generate half that amount, in part because the visual and aural cues are absent. "Your lifestyle invariably rises up to the amount of money you make, so a lot of ex-floor traders are in for painful adjustments," says Bob McCooey, a former stock exchange trader who joined Nasdaq last November as a senior vice president. Still, ex-floor traders hardly need to apply for relief. Those who bought exchange memberships for a few thousand dollars decades ago hit particularly big jackpots: Their stakes were turned into shares when the exchanges began trading publicly last year, and are now worth millions. That fortunate development gives people like former Nymex trader Dan Dicker the breathing room to keep looking for the right opportunity. The 46-year-old father of two, who studied biochemistry at SUNY Stony Brook before becoming an oil trader, wants to get a job with an energy company. He's starting to get itchy. "When I left the floor in June, I assumed I'd be settled by Labor Day," Mr. Dicker says. "Here it is February, and I'm not settled yet." SAVING THE LORE OF THE FLOOR Caitlin Zaloom knows about the troubles faced by former floor traders. Before entering academia, she was a runner at the Chicago Board of Trade back when it started the transition to electronic trading; she was working as a trader at the London International Financial Futures Exchange when it shut its trading floor entirely in 2000. Last October, she published a book about how computers are transforming exchanges. Now she plans to gather oral histories from floor traders, before their jobs join ticker tape and top hats on Wall Streetâs extinction list. âYou know something is really dead when a professor shows up with a tape recorder,â she says. Comments? AElstein@crain.com
I realized what a poser "Oscar" was when he claimed on a flash update on his site on March 9th that he had gone long the ES at 1413.50 before the 10 handle jump after NFP number. The only problem for Oscar was that the ES never traded down to 1413.50. It only traded down to 1413.75. And then only 20+ contracts traded at that level. The buy points he set out in his youtube video for that day was between 1413.5 and 1411.5. The ES never traded down to the buy point. I pointed this BS out in a comment I posted to his video, and then later the flash update was changed to say he was long at 1413.75. I don't believe that for 1 minute. The ES never traded down to his buy point, and very few contracts even traded at his claimed buy point of 1413.75. He tried to look like a genius after the big run-up.
Here we go, another 2 post noob offering advice. How transparent - you guys are not even trying these days. What a wanker! I believe wareco's observations are valid - if you wish to have a go at challenging them then thats fine, but you aren't going to do that with the mindless drivel spewed above... Lets stick to he facts shall we! PS. Is it just me, or does there appear to be a proliferation of "self-serving philanthropists" on ET as of recent?