Thank you guys for joining me and welcome to Episode 20 of Season 2 brought to you by Magnelibra Trading & Research (MTR). This episode is entitled “New Video Market Recap by MTR”
Quick Disclaimer: The following podcast is for educational purposes only. This is not a solicitation to buy or sell commodity futures or options. The risk of trading securities, futures and options can be substantial and may not be appropriate for all listeners.
Sorry took so long, but first video go didn’t fully load here to the site so we had to record it again! Bare with us as we go along, we would appreciate it!
From Zerohedge:
Core PPI dropping by the most MoM since April 2020 (-0.1% MoM vs +0.3% exp), slowing the annual pace of change for producer prices to +3.4%, The headline PPI was unchanged MoM (considerably slower than the +0.3% expected). The index for final demand services fell 0.2% in February:
Senate Minority Leader Chuck Schumer (D-NY) completely nuked any prospect of passing the House-passed continuing resolution on Wednesday, after he announced that most Democrats in the upper chamber will not support the bill, all but ensuring a government shutdown on Friday at 11:59 p.m.
Our favorite financial trading scene of all time from the movie Trading Places released in 1983, showcases the iconic scene where Louis Winthorpe III and Billy Ray Valentine, finally get back at their bosses. We don’t want to ruin the whole movie, but if you haven’t scene it, we highly recommend it! Anyway in this scene, Louis and Billy are traders in the OJ pits and are waiting to sell when their old bosses broker bids up the price. We won’t ruin it for you, but just watch the clip, it always reminds me of the CBOT bond pits back on Non Farm Payroll days, it looks chaotic, but there is such symmetry in the chaos because your only really focused on just a few key people, those were the days, you knew everybody, you knew how they traded, who they worked for, who their customers were…now you just have balance sheet and leverage! Anyway enjoy the clip! Trading Places OJ clip
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