A2A with Jim Comiskey

125

Longtime commodity broker Jim Comiskey stopped by TFMR again today to share his wisdom and experience through our A2A webinar format.

Some of the topics covered in this podcast include:

  • How markets have changed over the past 30 years with the advent of computer trading
  • What strategy Jim employs to profitably trade in HFT-dominated markets
  • His own, personal trading ideas that he thinks will profit in the months ahead

Good stuff from a guy who has seen it all over a 30+ year career in the Chicago commodity pits. I think you'll enjoy listening.

TF

  125 Comments

gold slut
Sep 24, 2015 - 3:18pm

1st??

No!, It can't beeee...

vonburpenstein
Sep 24, 2015 - 3:20pm

deuce...

....jim

Rakka
Sep 24, 2015 - 3:22pm

1st in Japan

Ohayo

Now to listen

silverflower
Sep 24, 2015 - 3:26pm

Jim is cult.

I follow him on his Tube Channel. Always great stuff. And lots of stuff to learn. 


Sep 24, 2015 - 3:29pm
canary
Sep 24, 2015 - 3:32pm

Sincere looking Yellen will be talking...

...at 5PM....Meantime her henchmen are working hard behind the scenes.

JackPutter
Sep 24, 2015 - 3:49pm

I'm wondering....

This is for Turd and Jim both. What financial perception has changed the most over your career?

Ah NVM it sounds as if Turd covered it.

StevenBHorse
Sep 24, 2015 - 3:51pm

Comment from Jim

"Jamie Dimon, who I would grab by the throat and rip out his trachea."

That comment wins the internet. 

Orange
Sep 24, 2015 - 3:59pm

USLV

I know I said I wouldn't sell, but nuts $0.98 in two days. I don't like the way the Dow went back up and silver flat lined. Probably will be hit over night and hopefully I can get back in when silver hovers around $14.80 tomorrow.

I hate the manipulated markets, I want to see real pricing. I will probably take the profits and buy physical so I have something to play checkers with. Darn, Putin has gold chess pieces, I'm sure.

Mickey
Sep 24, 2015 - 4:33pm

trade uslv for agq

then write otm calls

try to have it both ways

2 weeks ago I bought gld Oct 114 calls at 29 cents--today sold the Oct 117.5 calls for 32 cents--I have a "free trade" going and if GLD goes to 117.50 by Oct 16 I make $350 per contract with no investment. Have to get above 114 and start making nice money.

Orange
Sep 24, 2015 - 4:39pm

Mickey

I will look into that, however above my pay grade at the moment. 

I like "free trade" 

Libertybella
Sep 24, 2015 - 4:55pm

Any point in listening to Yellen's lecture?

Do you think there is any point in listening to Yellen's lecture at UMass Amherst today? Starts in about 6 minutes.

Libertybella

nadgeskaul
Sep 24, 2015 - 5:10pm

No Frikin Way!

A positive gold miners article from MarketWatch.

So, all we had to do was wait for them to tell us to buy? Arrgh, that would have saved me some grief.

https://www.marketwatch.com/story/believe-it-or-not-gold-miners-are-star...

"After years of depreciation, the gold-mining ETFs are beginning to exhibit basing patterns in contrast to the toppy patterns exhibited by the major equity market indices.

After all, with intense and persistent global monetary stimulus since 2009 that has been unable to produce "healthy inflation" outside of the relentless climb in the value of paper assets, perhaps real assets — land with gold deposits — will regain some measure of respect and value."


Sep 24, 2015 - 5:11pm

Mother Fellen full speech here

Text found in link from ZH: https://www.zerohedge.com/news/2015-09-24/yellen-do-over-speech-live-feed

​More useless deception, SPIN, MOPE and jawboning.

USDJPY rallies sharply about 25¢ on the release.


Sep 24, 2015 - 5:28pm

A guy sent me this

Numbers generated by Commerzbank. Their measurement of GOFO.

From Tuesday:

From Wednesday:


Sep 24, 2015 - 5:30pm

USDJPY now up about 0.35 on

USDJPY now up about 0.35 on worthless Mother Fellen jawboning. Look for gold to open $2-4 lower when trading resumes in 30 minutes.

Libertybella
Sep 24, 2015 - 5:30pm

Yellen - negative rates?

From her speech

As a result, the Federal Reserve has less room to ease monetary policy when inflation is very low. This limitation is a potentially serious problem because severe downturns such as the Great Recession may require pushing real interest rates far below zero for an extended period to restore full employment at a satisfactory pace.

Huh? 

Libertybella

Libertybella
Sep 24, 2015 - 5:33pm

The key word is "real"

"Real" rates are stated rates minus inflation.

2% rate - 3% inflation = -1% "real" rate

Libertybella
Sep 24, 2015 - 5:40pm

More Yellen nonsense

"An unexpected decline in inflation that is sizable and persistent can also be costly because it increases the debt burdens of borrowers. Consider homeowners who take out a conventional fixed-rate mortgage, with the expectation that inflation will remain close to 2 percent and their nominal incomes will rise about 4 percent per year. If the economy were instead to experience chronic mild deflation accompanied by flat or declining nominal incomes, then after a few years the homeowners might find it noticeably more difficult to cover their monthly mortgage payments than they had originally anticipated. "

I don't know about that but if prices go down and my wages stay the same I win....what am I missing?????

Libertybella
Sep 24, 2015 - 5:43pm

Thanks Turd

Appreciate the clarification on "real"interest rates...even if I don't fully understand all this economic mumbo-jumbo.


Sep 24, 2015 - 5:44pm

Sep 24, 2015 - 5:46pm

Breathtaking level of bullshit

How can/does ANYONE take this old bag and her band of goons seriously?

Clarki Stomias
Sep 24, 2015 - 5:54pm

@ nadgeskaul: Gold favorable article on Marketwatch

I saw that and figured someone in Turdville would get around to posting it. 

My initial gut reaction to it was that it means that the big boys are finished setting up their positions in underpriced miners. The Soroses, Druckenmillers and Hedgies have all made the purchases they needed to at suppressed (*cough*, abused) prices and they know that the boot will soon be taken off the miners necks. So go ahead MSM financial outlets, go ahead and report on it: tell those little retail investors to try to chase whatever remaining non-existent float is now available in those equities. Go ahead and start pumping the big boy's positions to the heavens, Marketwatch. The MSM has now been permitted to change the story. We shall see. But it is telling that this article would follow two months of relentless gold bashing; exactly the time the big boys needed to acquire what they wanted. 

At least, that's my (pollyanna-esc, self-interested and completely bias-confirming) opinion.

Libertybella
Sep 24, 2015 - 5:54pm

I just don't get it...my last word

I don't understand this fascination/obsession with achieving a 2% inflation rate target. Shouldn't the inflation rate grow at the same rate as the population's demand for "economic activity"...goods and services? With an aging population and boomers leaving the work force and going on fixed income wouldn't economic activity naturally decline and wouldn't deflation be the natural order of things? Why are we trying to push against natural economic forces, pumping money into a naturally declining economy?? 

Maybe I need a refresher Econ 101 class. 

Libertybella
Sep 24, 2015 - 5:56pm

Minimum 2% inflation needed

Minimum 2% inflation needed to give mandate to Fed/Treasury to increase money supply to service ever-increasing pile of accumulated debt upon which Fed member banks charge interest.


Sep 24, 2015 - 6:02pm

Gold re-opens down $1.50.

Gold re-opens down $1.50. Silver opens down 10¢. Let's see how this latest round of bullshit SPIN and MOPE effects this in China tonight. Another yuan devaluation? More emerging market troubles soon to follow? What a clown show...

Libertybella
Sep 24, 2015 - 6:06pm

omg i think she is having a stroke live on tv

She is having big trouble reading the speech...

she was obviously in big distress...maybe a mild heart attack?

The moderator asked her if she was ok.

Dyna mo hum
Sep 24, 2015 - 6:34pm
silver66
Sep 24, 2015 - 6:49pm

Deflation

is a pay raise for the middle class that the IRS can not tax !!!

Silver66


Sep 24, 2015 - 6:52pm

Yellen update

Seemed as if she might be having a stroke but was cleared by medics on the scene.

https://www.zerohedge.com/news/2015-09-24/janet-yellen-falters-during-sp...

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