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justinbarnes710
Veteran Contributor

Re: Savethefloor Wants You!

I tend to prefer electronic trading and it is not due to a lack of trust.  I just think that people have a hard time measuring up to the speed and accuracy of computers.

 

 

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sw363535
Honored Advisor

Re: Savethefloor Wants You!

Mike,

Our county once was a powerhouse in the broom corn market, and watermellon before that.

Our elderly neighbor swore the tractor would never replace the horses.  "Horses will be back" he said.

My wife wants the locally owned stores back on main street.

If CME wants to invest in a good newspaper, I know of a couple of good unemployed columnists.

-----------point made---------------

 

The future is here,  institutions come and go with time.  I will continue to follow the markets, read you Mike, and call my wife from a smart phone.  And I promise to tell my grandkids how they used to buy and sell grain by hand signals and yelling into a crowd of traders.  They won't believe it.

 

 

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Mizzou_Tiger
Senior Advisor

Get rid of the government and the reports............

and then we will talk.........until then its just another liquidity pit for people that have no physical connection to a product to speculate...........

 

if they understand supply and demand so well............then they would have seen 2010 and 2011 set-up and eventual run up.............instead all they did was chase the ambulance...........heck Marketeye, floor trader comments get posted by you all the time, Optioneye too...........and for a year and a half about 98% of the time it was some crazy bearish spin.........

 

heck you posted one today about the 22 estimate on the Argentina corn crop, and how that floor trader tried to spin that as bearish..............SERIOUSLY..........a 22 handle on something that was 29 a few months ago against a WASDE number for corn that is shrinking..............

 

if they understand supply and demand so well, in the fall of 2010 and into that winter they would have been right there along side many of us talking about all time highs being taken out..............instead all you heard was the corn acres story............

 

if they understand supply and demand so well, then why did cash corn go well north of $8 last year...........and cash corn bids recent have been 50 to 80 cents over board in areas, and I am not talking gulf..............

 

I hate to see anyone lose a job or whatever, but seriously, these guys are trading paper, not the physical, thus they have no connection other than an account number................and at that point they could be selling magazine subscriptions...........

 

its the way of the world, we don't keep stuff around just for the heck of it...........and if we do theres a place we put it.........a museum

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giolucas
Veteran Advisor

Re: Savethefloor Wants You!

Mike,

 

you are right, I am not a fan of saving the floor.  Been there, done that and saw how antiquated it is.  The future is now and that is the computer.  Also, people have to understand that have never been in the pit that when human interaction occurs that the process is prone for mistakes, alot of mistakes.  Also, I laugh when people are talking about SUPPLY and DEMAND because most traders in the pit are scalpers and looking to get quick hits and they probably did not even read the daily newspaper.  They are looking for quick profits and not looking to hold any position before the close.

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Jim Meade / Iowa City
Senior Advisor

Re: Savethefloor Wants You!

I'm taking the coward's way out on this one.  I used to use the board a lot but in recent years I've been much less active.  Part of it is my discomfort with the volatility and part of it is that I'm getting old enough to think about eventual retirement and I'm not interested in having a bad year that will take time to recover from.  I'll take my chances on cash and contracts.  I can store all my grain so that helps.

 

In addition, I do not believe that the CBOT has solved the issue of convergence. 

 

To be blunt, I have very little confidence that the CBOT is a fair and equitable place to hedge and I have even less confidence at this day and age that I am smart enough to trade it.  I'm not saying I'll never use it, but my positions there are very small cmopared with 5years ago.

 

In short, I don't care if they stay or not. 

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roarintiger1
Honored Advisor

Re: Savethefloor Wants You!

Paktrading, Your post is one of the most ignorant posts that I've ever read on this site.   Sorry folks, I don't usually come down like that on people, but that post is an award winner.....right to the trash can. 

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sw363535
Honored Advisor

Re: Savethefloor Wants You!

R Tiger,

Thank you,    Us Hayseeds who can't spell can go ahead and swallow that one now.  And your help is appreciated.

 

Even Mizzou has been pretty kind on my spelling(knowing it's a Ks education).  At least now we know that not all the bitter posts come from the production crowd.

I Always read your input.

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giolucas
Veteran Advisor

Re: Savethefloor Wants You!

Paktrading, this is what you posted,

 

"The problem is that you are asking mainly farmers who always think they are getting screwed by someone. The reality, of the situation is that they really don't understand the basic principles of their own business, SUPPLY AND DEMAND, let alone how the markets operate. The ignorance of some of the comments here is astounding"

 

That being said can you say something astounding.  Or better yet enlighten us with your infinite wisdom.  

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425Cat
Advisor

Re: Savethefloor Wants You!

Cash is King

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marketeye
Veteran Advisor

Re: Savethefloor Wants You!

Thanks for the dialogue. I know there are some passionate feelings on this floor subject. It would be nice if somebody that favors and believes in the floor would come out of the shade and into the light. Don't be shy. Tell us how you use the floor and why you would like it to co-exist with the 'screen'. And just so you know, I've notified the savethefloor.com folks and the CME Group to allow their folks to join the dialogue.It just seems like an inevitable discussion, considering the times of technology.

 

Mike

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