CLF looks ready to make a run. Going to enter 7/16 $25 Calls in the morning.

ClutchCityAg said:

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Citadel accounts for 27% of payments for Robinhood retail orderflow, and Payment for orderflow is 81% of total Robinhood revenue. pic.twitter.com/vQtVKPvIeQ

— zerohedge (@zerohedge) July 1, 2021

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If you don't know who the sucker in a deal is, it's you.

My wish for tomorrow although unlikely.

• SPY dumps.
• Q's rock.
• ASAN craps the bed

In response to FJ and AgEE...

McInnis 03 said:

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FJ43 said:

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My wish for tomorrow although unlikely.

• SPY dumps.
• Q's rock.
• ASAN craps the bed

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Numbers 1 and 2 are likely to prevent each other from happening. Pick only one lol

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Nah......help a brother out..... what is SPY 25% tech.

Farmer @ Johnsongrass, TX said:

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FAT SEXY said:

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Just a curiosity question for guys that have been in the game for awhile and know lots of market history..

Is there anyone out there that is considered the "Michael Jordan of Trading"? Is it Warren Buffet or is there someone else that I may not have heard of before that wears the GOAT shoes?

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Jesse Livermore, GOAT, there is no second, and the father of TA.

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FAT SEXY

Hope you checked out Jesse Livermore.

Following up to your post. Here are a couple other trader notables learned about during my career.

For TLDR folks, these are trader stories. The text below has nothing about investing in today's markets if you want to skip this post. Otherwise, I am posting this after market hours should anyone have time & interest to read about some real life trader characters. Didn't want to post this during hours.

Told to me by a few colleagues and a second hand reference of the same story from a relative of Pat Dye (yep, same former Auburn Coach Dye). In the 50's & 60's, Anderson Clayton & Company (ACCO), Houston, TX, had a tall intimidating trader guy that Mr. Will Clayton (author of the Marshall Plan, BTW) would call-in when some particular market needed to be "straightened out". When someone was trying to corner a market, or position negatively, impacting ACCO, this guy would enter a trading pit and take on the opposition. This was not a physical fight, but a money spending spree. The ACCO guy took the opposite position until the other trader ran out of money or, margined out or, had no more guts. I was told this trader guy never lost a position battle and kept the market from being cornered. I apologize that I don't remember this trader's name and if I recall correctly he resided in New York. He was a legend to the old timers I worked with when I was a pup. I guess if there's enough money behind you it doesn't matter what your physical stature would be. At that time/era, I think the physical presence of this guy was just another intimidation factor that had to be overcome when you were nose-to-nose in a trading pit and contemplating financial consequences all at the same time.

Next guy,...I had the story written up but didn't have all the details and I happened to find this old news article and posted the link down below. The following text info isn't mentioned in the article and is more detail to add to the story.

As the story goes, in the late 50's early 60's, a trader kept shorting/selling cottonseed oil (CSO) Futures as a hedge and the CSO processing industry was patient with this new flurry of selling activity in a typically mild mannered marketplace. Eventually, the processing industry spoke out and complained to the Commodity Exchange Authority (predecessor of the CFTC) to investigate this guy shorting the market. The processing industry claim - it was logically impossible to hold such a hedged short/physical long position, as claimed by the trader. This trader told the CEA that he had to sell offsetting Futures as he was hedging his physical long. The hedging activity created an "appearance" in the cash market that it was flush with CSO and cash prices continued to fall and processors were losing a lot of money. The CSO processing industry told the CEA the trader wasn't telling the truth. The CEA requested the trader to produce certified weight certificates of CSO ownership and the trader complied with the request handing over certificates. However, the continued flow of processing industry complaints to the CEA did not end. The industry felt that CSO prices were being strongly suppressed and manipulated by this trader. The CEA asked the trader to show them physical proof of all this CSO long position. The trader took the CEA investigators to a storage tank farm storing a portion of the trader's physical CSO position. The CEA investigators climbed the tanks, opened the tank top lids, and dropped a measuring stick down the tank until it reached the bottom. After pulling the measuring stick back to the surface, CSO on the stick was confirmed and the volume calculation was completed to validate the physical quantity owned versus the offsetting short hedges in the position. All was going well in the investigation and validation process for this trader until one of the CEA investigators happened to tap on the tank wall and detected a hollow sound. Instantly the CEA investigator understood the tank was empty, and yet, the tank measurement showed the tank was full of CSO. Bottomline, the tanks were fitted with false columns that ran the height of the tank and were filled with CSO while the rest of the tank, surrounding the false column, was filled with water. Hence, this is the explanation of why the measurement showed CSO in the tank(s) to capacity. It just so happened that the CEA investigator, by chance, tapped the wall of the only tank in the storage farm that was not filled with water, because the trader (crook) "...ran out of time to fill that tank (with water) due to the CEA investigators arrival...", as allegedly stated in sworn court testimony. In a nutshell, the CSO scandal news broke to the public, the CSO certificates of ownership were fake/forged, CSO Futures went to the moon and then crashed. Credibility and integrity to the marketplace was lost and it was decided to end CSO Futures Trading.

The article link below has other details not mentioned above.

https://www.nytimes.com/1964/11/15/archives/the-great-vegetableoil-mystery-scandal-now-one-year-old-remains-a.html

It's funny that I can be so confident that the $2.50 VEON calls I bought will mint money, but at the same feel comfortable that the $2.50 ELOX calls I sold will continue to decay.