Replies to post #61978 on Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

O.T.
O.T.

MLSOFT,

I totally agree with all you said. I once got 'stuck' having to take 720,000 lbs of February frozen pork bellies because I overstayed my 'welcome' and didn't try to liquidate my last 20 contracts until the last hours of the last contract trading day. Talk about being properly humbled..... sheesh! <GG>

Man, what a costly mistake and talk about hassle! Luckily, I was able to turn around and hedge them into to the March contract and use that 'certified' hedge as collateral against the $345K loan that I had to take out to pay for the Feb. deliveries. It turned out to be far more costly than what I would consider a fair price for a learning experience. For a while there, I was afraid I might have to go out and get a real job. Groan! I hope I'm not talking out of turn, but mudcat is wrestling with a book in which porkbellies play a prominent part and I'm prolly gonna have to tell him some of the stories from those days in the pits. It was a much sweeter deal before the CFTC was formed to police things. I'll tell you some of the stories when we go after that 12#er that has your name on it.

Hurry,
Dan

edit: grub! (pair of nines) LOL!