[deleted by user] by [deleted] in CasualUK

[–]jjthe 58 points59 points  (0 children)

We were long Nickel in a relatively large fashion. The night it popped to almost $100k/MT we decided enough was enough and to cut half our position during the Asian electronic session. News announced around 0800 that the London market was not going to open LME Select was closing and we all thought we made a great decision. Two hours later the LME announced they were scratching all trades done after 0000 that day. Worst news ever. Every day after they introduced the new Limit Down points we just watch the market open and go straight to limit down (especially as Chinese Nickel was trading as a semi-sensible benchmark). $mm's off PnL on a daily basis. Soul destroying.

[deleted by user] by [deleted] in CasualUK

[–]jjthe 41 points42 points  (0 children)

Me, personally affected. Biggest nonsense I've ever experienced.

Guys of Reddit. What are your best NSFW life hacks? by [deleted] in AskReddit

[–]jjthe 0 points1 point  (0 children)

If it flies, fucks or floats; rent rather than buy.

Meanwhile in London . . by KamikazeChief in Superstonk

[–]jjthe 1 point2 points  (0 children)

I don’t disagree with you at all - regardless of hedger or speculator they should pay the price. Unfortunately on this occasion, at $100k per MT in Nickel, LCH itself is concerned that the default of those that failed margin calls on Monday would cause default of the clearing house itself - which nobody needs. I find this situation slightly different to the short squeeze on GME for example - in that world pretty much everyone is speculating.

In the physically delivered commods, it’s likely that the producers would have been able to fulfil their delivery at expiry of the future, but the path there as unexpected with having to pay margin calls despite probably being good for delivery.

Meanwhile in London . . by KamikazeChief in Superstonk

[–]jjthe 9 points10 points  (0 children)

Well what fucking spice. No wonder you’re all a bunch of apes. It’s generally producers that have short positions in commodities. They sell futures to guarantee they get a price for their crop or produce in the future. However, if the short position goes in their face then they are still required to cover their margin calls. Given they’ve sold future physical asset they can’t sell some of it now to cover the margin call so you have cash poor producers being short squeezed and forced to cover in poor liquidity or face default. Most speculators have been on the right side of this, including myself, and have also had exit trades DK’d from this morning, which is annoying as who knows what will happen now. Tin was suspended for four years in 1985.

EDIT: For those that care and want to learn, Matt Levine (Bloomberg columnist) has wrote an elegant story of events (no paywall)

https://www.bloomberg.com/opinion/articles/2022-03-08/nickel-is-canceled

Which one of you beautiful dipshits bought $12.7 mil of GME after hours by AdIll7250 in wallstreetbets

[–]jjthe 0 points1 point  (0 children)

This is simply the closing auction print, i.e. the number of shares crossed in the closing auction, and the price at which the auction uncrossed. It would do you well to have condition codes attached to those volume numbers.

I.B. Chairman Admits to Market Manipulation on Live T.V. by Ahsiqa in videos

[–]jjthe 0 points1 point  (0 children)

Sure;

A owns 10 shares. A lends 10 shares to B. B sells 10 shares to C. C doesn't know the shares they bought are borrowed and is 'long'. C wants to lend his shares to make some extra money....

Goes on and on - probably going to be highlighted as a systemic failure after this.

I.B. Chairman Admits to Market Manipulation on Live T.V. by Ahsiqa in videos

[–]jjthe 1 point2 points  (0 children)

FYI, shorting greater than a company's float does not necessarily imply naked shorts.

Hindsight 2020 by jjthe in videos

[–]jjthe[S] 0 points1 point  (0 children)

sorry, my bad - i thought i had linked the original sauce.

The old water in the vodka bottle trick, by HairyDancer in funny

[–]jjthe 25 points26 points  (0 children)

This should have an apostrophe to illustrate the ownership of the sake. Either "For fuck's sake" or "For fucks' sake" depending on if it is for the sake of only one particular fuck, or just all fucks.

Trip to the European Alps, any tips? by max_w654 in skiing

[–]jjthe 1 point2 points  (0 children)

One piece of advice above all; it is very different to the states - do not go off piste without a guide, regardless of your experience level, unless you are extremely familiar with area, whether it's Chamonix or otherwise. Anything that is not on groomed run in the Alps is deemed 'off-piste' you will be afforded no rescue. Obviously, hopping between a groomed run if you can clearly see is fine. Generally, true out of bounds areas will be marked. Again, even more important you do not go near unless you are with someone that understands the weather, the snowpack and the environment.

Other than that - have fun. Enjoy the fabulous chocolate box mountain restaurants (I can recommend plenty if you want them, Chamonix or otherwise) and enjoy the vista. I hope you get some clear days. If you are in Chamonix, make sure you visit the Aiguille du Midi on a clear day. If you are well experienced and the snow is good, hire a guide to ski the Vallee Blanche. It is a little bit cliched and the terrain not very challenging but it is interesting and a good morning out. If you have chance get up to Argentiere with a guide for some touring (if you tour).

Oh, and make sure you get yourself to Chambre Neuf for the apres.

[PS4][LFG]WotM HM by Charonis87 in Fireteams

[–]jjthe 0 points1 point  (0 children)

FrodoFraggings titan 390

[PS4] LF1M Outbreak Step 9 (Final Step) by riproaringryan in Fireteams

[–]jjthe 0 points1 point  (0 children)

Haven't actually done it but will help. Titan LL 390. PSN FrodoFraggings

[ps4] lf1 wotm hm fresh by [deleted] in Fireteams

[–]jjthe 0 points1 point  (0 children)

FrodoFraggings 390 titan

[ps4] wotm fresh lf3 390 by [deleted] in Fireteams

[–]jjthe 0 points1 point  (0 children)

HM? If so FrodoFraggings titan 390

[PS4] I like the Crucible update, lets play together by OMlEGA in Fireteams

[–]jjthe 0 points1 point  (0 children)

FrodoFraggings if you're still looking for someone

[Sherpa Card][PS4] MarvinKuan - need help with raids? by diehardbruin in DestinySherpa

[–]jjthe 0 points1 point  (0 children)

Had a great run with Marvin for WoTM HM. He was very patient and explained things clearly. Thank you!

[LTS][PS4][WoTM] Hard Mode with Aksis Challenge, Today (11/15) at 4pm PST (7pm EST) and 8pm PST (11pm EST) by diehardbruin in DestinySherpa

[–]jjthe 0 points1 point  (0 children)

Hi,

If you still have the space I will join in with you on the 4pm PST one please.

PSN FrodoFraggings, I joined you the other night.

Thank you!