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Veteran Advisor

Help Me, Bucky, Help Me!!!

You were so sure of your prognostication on Sunday:

 

Beans look like the titanic here.  Overrun off the combine.....sold, excess money in hedge account.........by puts.  8 dollar futurs isn't that far away and if the gap failure is a measuring gap, 6.30 beans is at hand by January report time.  First week october seasonal low is a puppy dog compaired to what is looking at us in our face.

 

that I sold 10 contract of JAN Beans at the open Sunday night.  I got filled at $9.24 right after the open.  I had enough to margin the initial purchase ($2750 per contract = $27,500.) but now the contract is against me, and I got a margin call today for the $27,500 along with the $15,000 that I was out on Monday, and now expecting another $10,000 margin call tomorrow morning.  I wasn't planning for the the addtional $25,000 I am already out.  You were so sure.  I had already planned to use the money to buy a new planter that I was looking at for next spring.  I called my banker, and he said because the price of corn and beans had dropped so much, he couldn't raise my operating loan, and actually was going to be recalling $100,000 of that for next spring because of the low prices.  I don't think I can raise the money already to hold onto the contracts.  Bucky, you promised that beans were going to $6.30!!!  Now what do I do?

 

 

The above scenerio was completely false - or was it?  When ever anyone on here, even if they come on here saying that they are the brain that they think they are - don't listen to them.   If Bucky really had farmers trying to knock down his door like he said, the above scenerio could be very, very true for someone out there.  I know.  I fell for Wrestler's ploy last year while I was in the hospital, and it cost me.  Don't fall victim to these guys, like I did.  I may come across as the Type A personality that I am, but I'm not a liar.  And I'm not here in a self serving capacity.  

 

As I see it, Bucky is 0 - 2 on his weekend projections.  His last one, about the BIG Limit Down move didn't materialize either.  

 

Be Afraid....be very, very afraid of this market right now.  Standing aside is probably a wise move.  If you're hedged from a good level above the market, I would still hold it.  But your going to have to weather a mental challenge for the next few weeks.  And, if you're hedged out far enough, you always have the Hugh, Never Ever Before Seen (but yet to be determined) Bin Buster Crop Report of 2015 is just around the corner...I can't wait...

 

Jen

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16 Replies
Advisor

Re: Help Me, Bucky, Help Me!!!

Just give it up. Your making a stick man of his position that is so far from reality and just what you want to hear. Why can't you just respect that other people have opinions and drop it?
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Re: Help Me, Bucky, Help Me!!!

No, I don't think it is so far from reality. There are many people who read this site, for many different reasons. If Bucky was truthful in his, "I can't answer all the requests!", then someone could've easily done the above scenario. Would it play out just like the above - probably not, but close enough. I know what happened to me last year, and I had a local farmer come to me several years ago come crying to me because he had just lost over $100,000 in the futures market. I was afraid for his life. Some of you guys play this as a game, "Don't hate the player, hate the game." When someone says that - they are not to be trusted, for anything. This isn't a game for many of the farmers on here - it's their livelihood. When I saw Bucky and his traveling entourage come after here bragging about all the money he had made, and trying to get sympathy for being kicked off the other site, it set off alarms within me. And so far, I see no one other than just another charlatan selling what he doesn't have - the ability to foretell what is going to happen on the futures market. There's a reason that every futures add says that there is a chance of losing money. Because what they don't say, is that for every winner, there is a loser. The money in Bucky's account that he was bragging about came from somewhere. I just don't want it coming from a fellow farmer...

Jen
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Veteran Advisor

Re: Help Me, Bucky, Help Me!!!

That farmer should have not risked $100, 000 of his livelihood. It is his fault.
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Re: Help Me, Bucky, Help Me!!!

I would love to help Jenny.  Lithium works wonders on people with special needs.  BTW I never said any limit downs, keep hoping.

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Re: Help Me, Bucky, Help Me!!!

No he shouldn't have.  But he's not the only one that I know of.  I know of at least 4 more.  One other one got himself in worse than the one I mentioned above.  He called me one day and told me what he was planning to do, because it looked good at the time.  It was just before a report - he was sure he had the report figured out.  Wrong.  I told him not to do it - he did it anyway.  A limit move day - and he was on the wrong side and couldn't get out.  The damage was done.  I'm sure he wrote it off as a hedging loss on top of it - it was all speculative.  It's not pretty to this day, though he has managed to continue operating.  It's just a matter of time...

 

No one in the futures market ever gets fingered for telling a client how to trade.  Instead, farmers are bombarded with slick ways to make big bucks on the futures and options market, with schemes that may work sometimes, and other times be costly.  I'm ridiculed when I say sell only what you have, and what you have in the bin.  Because for a lot of farmers, it's simple, it works, it's not the mental game that's played when your money out in the futures, and it affords you the opportunity to sell to who you want to.   And, after watching the Wolf of Wallstreet last week, if I give the traders another penny of my money, it'll be too much and it'll be too soon.

 

Jen

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Re: Help Me, Bucky, Help Me!!!

Jen,
When I lose trading I never blame the farmers or for that fact anyone else. I blame myself. I lick my wounds and move to my next market opportunity.
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Re: Help Me, Bucky, Help Me!!!

Yup just got to own your mistakes.. If you don't understand a Diesel engine, then don't take it apart: the same for futures.

You can do a lot more safer risk management decisions than go long or short. Day trading is just another way for people to lose a lot of money, no point to it for most people.

Trading isn't someone out to get everyone. It's just business. I doubt they are out to get other people

Nor do I think people would take bucks comments as the absolute truth. People are going to be charitable and make some assumptions. Most messages aren't as heavily vetted as publicated works. Of course you know he can't guarantee any of his conclusions when it comes to trading: no one can guarantee their conclusions . Nobody was born yesterday here. It's all probability : chance. What's the best chance?

As soon as you get emotional about your business your judgement is going to get cloudy.
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Re: Help Me, Bucky, Help Me!!!

Bucks genius big brain

Doesn't need to appologize to anyone. The expected weekly gap down measuring gap that was supposed to happen last week was a week late. The bottom in the weekly chart shows a low around 6.50. The weekly gap down was the important part of the technical study. We should also see a exhaustion gap around 8 dollar beans. You can lash out at buck or accept it as gospel. No appologies for a nickel move against buck because buck was right.
 
Remember this little post?  OK - it wasn't a Big limit down move - It was a BIG GAP DOWN MOVE, which didn't happen either.  You're still 0-2 on your weekend projections.  
 
Maybe you can give some proof of your BIG BRAINS power in ways that might actually work.  I hear they need some help in Africa.  I sure you and your BIG BRAIN would be much appreciated.  And - give us a report on how it's going over there when you get there.
 
Jen
 
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Re: Help Me, Bucky, Help Me!!!

Buck - you also need some help with spelling.  

 

Here you go - if you want to prescribe this drug - lithiam, it is spelled lithium.  Thank you Dr. Buck.  I would've thought that knowing how to spell would've come along with that BIG BRAIN GENIUS that you are.

 

As you know, Dr. Buck, lithium is not recommended for patients with heart disease, like myself.  I already have problems with irregular heartbeats, I don't need more - but thank you so much for your concern.  

 

Please be aware that I am able to take very few medications with the cocktail of medications I am currently on.  I can have Tylenol for pain.  That's about it.  And even that is limited.  So the next time you are prescribing something, please keep that in mind.

 

Jen

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