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Advisor
425Cat
Posts: 1,689
Registered: ‎05-14-2010
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Flat price only- no hedging?? MF Global

Just wondering how secure the system is with the lastest blow-up at MF Global. I suspect some of the smaller elevators and merchandizers with eventually go to a flat price only, not willing to put any hedge money at risk with some of these clowns.

 

 

Entire bean carryout is still in the field and might be for awhile!

 

 

Community Manager
Jeff_a_Caldwell
Posts: 1,013
Registered: ‎04-29-2010
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Re: Flat price only- no hedging?? MF Global

Hi, Cat. Funny you mention the MF Global deal just now. I just got a note from a trader who says CME Group is "now claiming that MFG did not keep clients' funds segregated and that as much as $700 million is unaccounted for." He says all MF Global's cash is frozen and if you have an account at MFG, call your broker immediately to transfer. So, sounds like at this point, that's still an option...

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Jeff Caldwell
Agriculture.com Multimedia Editor
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Advisor
425Cat
Posts: 1,689
Registered: ‎05-14-2010
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Re: Flat price only- no hedging?? MF Global

Better hope there is some left to transfer. Where is the oversight from the feds.

Advisor
vrbuck
Posts: 907
Registered: ‎05-13-2010
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Re: Flat price only- no hedging?? MF Global

Gann died broke and alone..............hmmmm
Community Manager
Jeff_a_Caldwell
Posts: 1,013
Registered: ‎04-29-2010
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Re: Flat price only- no hedging?? MF Global

One trader told me earlier that "besides having a fed official sign off on money transfers," he didn't know how much more oversight could be placed over the trade the way things are now, adding that regulations in place are "sufficient."

 

One interesting effect of this MF deal -- the crowd on the trading floor in Chicago is "visibly smaller" again today. Here's more on that part of the story.  

 

I also just got an email from another brokerage company advertising themselves as a "solid alternative" to MF Global. Looks like everybody's jumping on and trying to get a piece of MF's pie, whether it's still in the kitchen or not!

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Jeff Caldwell
Agriculture.com Multimedia Editor
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Advisor
idalivered
Posts: 1,342
Registered: ‎05-13-2010
0

Re: Flat price only- no hedging?? MF Global

jeff, if the bto's go broke their landlords will get calls. when gm was broke, ford was tryin' hard to secure their customers.

Esteemed Advisor
sw363535
Posts: 4,821
Registered: ‎07-18-2011
0

Re: Flat price only- no hedging?? MF Global

ida,

 possibly what the stone folks were doing yesterday!!!!!

sw
Advisor
425Cat
Posts: 1,689
Registered: ‎05-14-2010
0

Re: Flat price only- no hedging?? MF Global

In all fairness Gann did enjoy success during the peak of his career. His Gann angles can be quite useful and his Master Time Factor if you can figure out how to use it.

 

Another famous trader of that era Jesse Livermore didn't fair quite so well.