Commodity Trading & Trend Following

This is not just a funny video.. it is so true …it is so scary..

Many Fear the Boom and Bust cycle of John Maynard Keynes and F. A. Hayek. These two are considered the great economists of the 20th century. This rap song on the economic crisis is so true. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.

Get the full lyrics, story and free download of the song in high quality MP3 and AAC files at www.econstories.tv

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Lyrics from the video http://www.econstories.tv/home.html
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits
[Keynes Sings:]
John Maynard Keynes, wrote the book on modern macro
The man you need when the economy’s off track, [whoa]
Depression, recession now your question’s in session
Have a seat and I’ll school you in one simple lesson
BOOM, 1929 the big crash
We didn’t bounce back—economy’s in the trash
Persistent unemployment, the result of sticky wages
Waiting for recovery? Seriously? That’s outrageous!
I had a real plan any fool can understand
The advice, real simple—boost aggregate demand!
C, I, G, all together gets to Y
Make sure the total’s growing, watch the economy fly
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits
You see it’s all about spending, hear the register cha-ching
Circular flow, the dough is everything
So if that flow is getting low, doesn’t matter the reason
We need more government spending, now it’s stimulus season
So forget about saving, get it straight out of your head
Like I said, in the long run—we’re all dead
Savings is destruction, that’s the paradox of thrift
Don’t keep money in your pocket, or that growth will never lift…
because…
Business is driven by the animal spirits
The bull and the bear, and there’s reason to fear its
Effects on capital investment, income and growth
That’s why the state should fill the gap with stimulus both…
The monetary and the fiscal, they’re equally correct
Public works, digging ditches, war has the same effect
Even a broken window helps the glass man have some wealth
The multiplier driving higher the economy’s health
And if the Central Bank’s interest rate policy tanks
A liquidity trap, that new money’s stuck in the banks!
Deficits could be the cure, you been looking for
Let the spending soar, now that you know the score
My General Theory’s made quite an impression
[a revolution] I transformed the econ profession
You know me, modesty, still I’m taking a bow
Say it loud, say it proud, we’re all Keynesians now
We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Keynes] I made my case, Freddie H
Listen up , Can you hear it?
Hayek sings:
I’ll begin in broad strokes, just like my friend Keynes
His theory conceals the mechanics of change,
That simple equation, too much aggregation
Ignores human action and motivation
And yet it continues as a justification
For bailouts and payoffs by pols with machinations
You provide them with cover to sell us a free lunch
Then all that we’re left with is debt, and a bunch
If you’re living high on that cheap credit hog
Don’t look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest
Your focus on spending is pushing on thread
In the long run, my friend, it’s your theory that’s dead
So sorry there, buddy, if that sounds like invective
Prepared to get schooled in my Austrian perspective
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits
The place you should study isn’t the bust
It’s the boom that should make you feel leery, that’s the thrust
Of my theory, the capital structure is key.
Malinvestments wreck the economy
The boom gets started with an expansion of credit
The Fed sets rates low, are you starting to get it?
That new money is confused for real loanable funds
But it’s just inflation that’s driving the ones
Who invest in new projects like housing construction
The boom plants the seeds for its future destruction
The savings aren’t real, consumption’s up too
And the grasping for resources reveals there’s too few
So the boom turns to bust as the interest rates rise
With the costs of production, price signals were lies
The boom was a binge that’s a matter of fact
Now its devalued capital that makes up the slack.
Whether it’s the late twenties or two thousand and five
Booming bad investments, seems like they’d thrive
You must save to invest, don’t use the printing press
Or a bust will surely follow, an economy depressed
Your so-called “stimulus” will make things even worse
It’s just more of the same, more incentives perversed
And that credit crunch ain’t a liquidity trap
Just a broke banking system, I’m done, that’s a wrap.
We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No it’s the animal spirits

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”
John Maynard Keynes
The General Theory of Employment, Interest and Money

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
F A Hayek
The Fatal Conceit

Tweet This Post 

Robert Prechter thinks that a stock market crash will happen. One of my colleagues forwarded his Elliot Wave projections.

However investing on tips ( which everyone seems to want) is not healthy for ones investment pocket. One needs to put into perspective that as correct Robert Prechter was in 1987 regarding the crash…investors that heeded his calls to be short could be down almost to their last penny. The key is let the market tell you what to do. To me this is simple price action. My long positions of both the Nasdaq and Sp 500 were closed in the last several days. Even though I am totally priced based… my concerns were raised by numerous sentiment issues and VIX issues. There were multi year extremes for lows in Bearish sentiments seen in AAII as well as the CBOE had a multi year low. The typical fact is the public is ALWAYS WRONG. When the public is greedy..one should get nervous…and when the public is scared..one should be become greedy.

The wonder of trend following and commodity trading is that once one has a plan…news like Robert Prechter does not influence them either way. No one knows anymore than you. If you want to succeed in trading… have a well thought out plan..follow it with diligence and patience.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

There was a recent article in the wall street journal asking the question, “Has The Black Box Broken? This is not something new to long time commodity trading advisors and trend followers. I have seen these articles over and over again. If anything it encourages me to even allocate to more commodity trading advisors. When I see articles of this nature a turn around is right around the corner. In reality the last 18 months nothing has happened and the goal of any trend following commodity trading advisor was not to lose too much money until some trends appear. No promised us trend followers that there will be trends when we want.

I have seen repeatedly commodity trading advisors add assets under management when they made money…and at any draw down investors flee. Going through a draw down is not fun. Especially if you are AHL which has been the favorite child of Man group. The assets of the commodity trading advisor of AHL has fallen drastically. Investors in commodity traders need to do the exact opposite. This would be a great point to invest with commodity trading advisors.
Trend following has been around since the great famine of Egypt with Joseph and will surely continue. This is what needs to be expected with trend following. If you can not stand the draw downs do not start trading or investing with commodity trading advisors.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Organization / Fund 2007 2008 2009 3 year
Max DD Lifetime
Max DD Minimum
Abraham Trading1
19.20% 28.81% -5.56% 7.24% 27.19% 10 M
Aspect Capital2
8.18% 25.42% -11.25% 21.53% 21.53% 500 K
Chesapeake Capital3
2.33% 15.38% 0.40% 23.36% 23.36% 5 M
Clarke Capital4
35.24% 79.90% -29.78% 31.19% 31.19% 50 K
Drury Capital5
5.00% 75.64% 9.02% 13.43% 32.51% 5 M
Dunn Capital6
7.60% 51.45% -0.57% 36.36% 60.26% 10 M
Eckhardt Trading7
34.12% 13.15% -4.80% 8.03% 27.11% 10 M
EMC Capital8
17.32% 46.30% -14.35% 16.54% 45.16% 2 M
Hawksbill Capital9
20.24% 96.22% -15.32% 24.67% 61.78% 5 M
Hyman Beck & Co.10
-5.85% 49.78% 3.96% 15.31% 29.27% 1 M
JWH & Co.11
18.61% 90.63% -24.06% 30.49% 30.50% 20 M
Man AHL Diversified12
19.61% 33.23% -16.95% 17.90% 17.90% 30 K
Millburn Ridgefield13
12.85% 20.61% -7.33% 16.16% 26.89% 150 K
Rabar Market Research14
15.12% 18.22% 6.99% 8.61% 29.84% 2.5 M
Saxon Investment15
21.20% 20.90% 10.37% 5.93% 41.49% 2 M
Superfund16
-0.92% 30.00% -29.46% 32.54% 32.54% 5 K
Transtrend17
14.46% 18.99% -8.36% 8.51% 8.51% 10 M
Winton Capital18
16.13% 21.02% -4.63% 10.26% 25.73% 10 M

Notes:

1. Abraham Trading was founded by Salem Abraham,. Introduced to managed futures and trend following by Jerry Parker (see#3). Salem Abraham is considered a 2nd generation turtle.
2. The four founders of Aspect (Eugene Lambert, Anthony Todd, Michael Adam and Martin Lueck) were significant members of one of the most successful funds in managed futures - AHL (Adam, Harding and Lueck)
3. Chesapeake Capital was founded by Jerry Parker, a former Turtle. Diversified Program
4. Clarke Capital was founded by Michael Clarke in 1993. Global Basic Program.
5. Drury Capital, Inc., was founded in Illinois in 1992 by Mr. Bernard Drury. Diversified Trend Following Prog.
6. Dunn Capital was founded by Bill Dunn. World Monetary and Agriculture (WMA).
7. Eckhardt Trading is the firm managed by William Eckhardt, who co-led the Turtle experiment with Richard Dennis. Standard Program.
8. EMC Capital was founded by Liz Cheval, a former Turtle. Classic Program
9. Hawksbill Capital was founded by Tom Shanks, a former Turtle. Global Diversified Program
10. Hyman Beck & Co. main principals are Alexander Hyman and Carl Beck. Global Portfolio.
11. JWH & Co. was founded by John W. Henry, Owner of the Boston Red Sox. JWH Global Analytics Program
12. Originally ED & F Man. Became a successful CTA under Larry Hite and went on to form part of The Man Group plc, which subsequently bought AHL to form the Man AHL: the systematic trading division of the Man group.
13. Millburn Ridgefield have been trading Trend Following models since the early 1970’s. Millburn Ridgefield Principals: Harvey Beker, George E. Crapple, Mark Fitzsimmons, Barry Alan Goodman, Kenneth P. Pearlman and Grant Norman Smith.
14. Rabar Market Research is the company of Paul Rabar, a former Turtle. Diversified Program
15. Saxon Investment was founded by Howard Seidler, a former Turtle. Diversified Program.
16. Superfund founder and CEO: Christian Baha. Superfund Q-AG
17. Transtrend is a Trend follower CTA based in Netherlands. Standard Risk Diversified Trend Program
18. Winton Capital is a London-based CTA founded by Dave Harding (also co-founder of AHL).

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Who do you believe?… Jim Rogers came out today and predicts food shortages. Jim Rogers thinks there will be food shortages because of the financial crisis. He believes the agricultural sector is low on funds and inventories are at the lowest levels in decades. An example is a recent trade that most trend followers are in is Sugar. Sugar is still 70% below it’s highs. Can you imagine the potential profits only if sugar rebounds 50%? The same can be said about gold or even coffee.
The back drop is that last year many abandoned managed futures and trend following because of lack luster returns. Actually Business week wrote an article discussing the dismal returns of the many of the leading trend following commodity traders.

So the question arises.. How does one make investments on conflicting stories? Who says it has to be simple. That answer is, it is useless to predict…rather it is most prudent to trend follow. When trend following you open yourself up to any potential outcome regardless of direction. Trend Followers stand to make money in any situation. Granted in an inflationary context, trend following commodity trading advisors stand the chance to make a fortune if there are trends.

I am convinced no one knows the future and the most prudent measure is to let the markets let you know what to do.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Below is a short list of returns for 2009 Returns for Commodity trading advisors that are trend followers

Organization / Fund Dec. Return YTD * AUM **
Abraham Trading1
-3.98% -5.56% $482M
Aspect Capital2
-5.80% -11.25% $3568M
Chesapeake Capital3
2.83% 0.40% $1046M
Clarke Capital4
-11.04% -29.78% $23M
Drury Capital5
0.08% 9.02% $151M
Dunn Capital6
-5.83% -0.57% $220M
Eckhardt Trading7
-5.95% -4.80% $445M
EMC Capital8
-2.00% -14.35% $212M
Hawksbill Capital9
-14.50% -15.32% $50M
Hoffman Asset Management 19
% -4.83% $26M
Hyman Beck & Co.10
-1.30% 3.96% $462M
JWH & Co.11
-10.87% -24.06% $106M
Man AHL Diversified12
-6.89% -16.95% $20,400M
Millburn Ridgefield13
1.48% -7.33% $1,095M
Rabar Market Research14
-0.48% 6.99% $222M
Saxon Investment15
-0.18% 10.37% $10M
Superfund16
-8.86% -29.46% $159M
Transtrend17
-3.21% -8.36% $107M
Winton Capital18
-2.45% -4.63% $12,650M

Notes:

* YTD: Year-To-Date performance through Dec 2009.
** AUM: Assets Under Management.
1. Abraham Trading was founded by Salem Abraham,. Introduced to managed futures and trend following by Jerry Parker (see#3). Salem Abraham is considered a 2nd generation turtle.
2. The four founders of Aspect (Eugene Lambert, Anthony Todd, Michael Adam and Martin Lueck) were significant members of one of the most successful funds in managed futures - AHL (Adam, Harding and Lueck)
3. Chesapeake Capital was founded by Jerry Parker, a former Turtle. Diversified Program
4. Clarke Capital was founded by Michael Clarke in 1993. Global Basic Program.
5. Drury Capital, Inc., was founded in Illinois in 1992 by Mr. Bernard Drury. Diversified Trend Following Prog.
6. Dunn Capital was founded by Bill Dunn. World Monetary and Agriculture (WMA).
7. Eckhardt Trading is the firm managed by William Eckhardt, who co-led the Turtle experiment with Richard Dennis. Standard Program.
8. EMC Capital was founded by Liz Cheval, a former Turtle. Classic Program
9. Hawksbill Capital was founded by Tom Shanks, a former Turtle. Global Diversified Program
10. Hyman Beck & Co. main principals are Alexander Hyman and Carl Beck. Global Portfolio.
11. JWH & Co. was founded by John W. Henry, Owner of the Boston Red Sox. JWH Global Analytics Program
12. Originally ED & F Man. Became a successful CTA under Larry Hite and went on to form part of The Man Group plc, which subsequently bought AHL to form the Man AHL: the systematic trading division of the Man group.
13. Millburn Ridgefield have been trading Trend Following models since the early 1970’s. Millburn Ridgefield Principals: Harvey Beker, George E. Crapple, Mark Fitzsimmons, Barry Alan Goodman, Kenneth P. Pearlman and Grant Norman Smith.
14. Rabar Market Research is the company of Paul Rabar, a former Turtle. Diversified Program
15. Saxon Investment was founded by Howard Seidler, a former Turtle. Diversified Program.
16. Superfund founder and CEO: Christian Baha. Superfund Q-AG
17. Transtrend is a Trend follower CTA based in Netherlands. Standard Risk Diversified Trend Program
18. Winton Capital is a London-based CTA founded by Dave Harding (also co-founder of AHL).
19. Hoffman Asset Management is a CTA founded by Dean Hoffman

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Everyone would love to know what would be the outlook for the commodity markets and commodity trading. After a roaring 2007 and 2008 it seemed that commodity trading advisors would know no limit. The stock markets collapsed in 2008 and fear was rampant through out the world. During the turmoil when virtually every strategy lost money the Newedge CTA Index was up 13.07%. However in 2009 we encountered one of the biggest run up in the history of Wall Street and commodity traders did not find oppurtunities to profit. Many question was this a dead cat bounce or have things really changed and improved?

For commodity trading advisors and trend followers the commodities markets were choppy, whipsawing and full of false starts. In this tough & difficult environment, the Newedge CTA Index was down -4.25%, its first negative year since its inception in 2000. Many inexperienced investors have fled the managed futures markets with the first scent of a draw down.

These investors forget the central banks have flooded the world with liquidity and more cheap money. This historically has been a catalyst for inflation. Another wild card could be the effect of China having it’s own version of a housing crisis due to massive over building. Regardless…trend followers do not predict..they only react…The proven fact though in times of crisis..trend following a basket of commodities, currencies, interest rates, metals and energies has been a profitable trade.

What I personally see is resumption of wall street preaching to the public to be a long term investor, buy stocks..they are a safe investment. This could not be further from the truth… For a 10 year period..most investors in the stock market were lucky just to break even. Now you look at all the risks, they seem to be magnified. There have been weak earning from Alcoa to Chevron. There is still is massive unemployment, interest rates can go any lower and possibly will be heading higher to outset some of the tremendous debt created by the Fed, as well as many of the technical and consensus indicators which have become negative.

Have a plan…be aware of the inherent risks that are becoming more luminous.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Will Gold be the Only Currency?

Lets face it…when we look at a $100 Bill. It says this note is legal tender for all debts public and private. More so. It says In God We Trust. However… Can we still believe in the central banks, the FDIC or for that fact any currency because at the end of the day it is just a piece of fine weaved paper. It does not matter if it is the US dollar, the Japanese Yen or the Swiss Franc… It is just paper. I am not a gold bug nor do I know where the gold market is headed. I am a trend following commodity trader who just reacts and tries to follow trends when they happen. Forget that John Paulson and David Einhorn have purchased tons of gold.

However many central banks have been buying gold. Even small countries like Sri Lanka and Mauritius have been buying gold. Needless to say the populace of China and India has been buying gold. The fact is that Wall Street gambled and placed very bad bets that resulted in unprecedented losses, losses that are being passed on to the American taxpayer. Just the interest on the debt is shocking.
Looking at the facts is very sobering.
It was the first time in 20 years that gold purchases for investment purposes outpaced gold purchases for jewelry demand
For the first time in over 20 years, central banks became net buyers rather than net sellers of gold.
India bought 200 tones of gold in the fall of 2009 and what was most shocking is that they were willing to pay the market price for gold.
Rumors have been flowing around that Arab oil producing states want to to stop using the US currency for oil trading China, Russia and France.
The Iranian oil bourse allows oil sales in several currencies except the US dollar.
There was an agreement between ten member states in Central and South America and the Caribbean to use the Sucre rather than the dollar for intra-regional trade.

The fact is that since 1973, the US has been able to accumulate huge deficits thanks to an agreement with OPEC to price oil in dollars exclusively. This system worked until the 2008 financial crisis.

Look at this last fact and tell me how comfortable you feel. The US must refinance at least two trillion dollars of debt in 2010. The FED can refinance in one of three ways:
1. through the sale of bonds,
2. through increased taxation
3. through monetization by the Federal Reserve

What is ironic to me as a trend follower and follower of the commodity markets are all of those who think all is clear. The Great Recession is over.
Time will tell.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

Walking away from Mortgages

It seems now almost acceptable that Americans can walk away from their mortgages. Why not? So many are upside down, owing more money on a house than the house is actually worth.
Many Americans are just walking away and renting virtually the same homes for half or a third of their previous mortgage payment.

What does this mean for the banking industry? How healthy can these banks really be with non performing loans both on the residential side and commercial side? How real is this stock market rally? My proverbial question… what has really been solved? Has everything been delayed for a further down turn? Trend followers and commodity traders that have much experience do not try to predict the future.. but it seems very evident. There are bearish signs percolating in the stock market such as the CBOE put call ratio looks toppy…there was a huge uptick reading over 1500+ which is usually sign of a top as well as there are less and less bears… except Jim Chanos and calling China a bubble ready to burst ( 1,000 times greater than Dubai). Jim Chanos has not been wrong all the much… He has become a billionaire by calling tops in the housing market, Enron and many others.

The NY times reported on this the other day. They stated the housing collapse has left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Can you imagine how much money the banks can be losing on this… To me it is mind boggling. What I do not understand instead of bailing out the banks… why didn’t the administration do what FDR did in the great depression. The govt bought up the loans from the banks…and restructured them in order that people could live in their homes. This worked and they stemmed the tide of foreclosures and broken families.

What does this mean for the markets? No one has a crystal ball…but I would suspect we are headed for turbulent times. The best way to protect assets is real assets. With all the money that was printed..I can not see how inflation will not raise it’s ugly head.

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post 

There was an interesting article online of Forbes discussing Billionaire predictions that I glanced through this morning. My immediate thought was..Do these Billionaires know something that we don’t? They know better than us? What I expected was they had a variance of opinions as we all do…as well as they are optimistic.. Really they are no different than us mortals…Maybe they were at the right time at the right place… worked extremely hard to earn their status as a billionaire… but they are no soothsayer…

As a commodity trading advisor… I know that No one knows the future.Articles like this make great public interest articles.. but to invest on this type of knowledge is dangerous to ones net worth. With Trend following we do not need to predict what will happen because it is impossible. What trend followers do is put themselves in a position to benefit if there will be a trend.

I laugh with clients..I tell them that trend followers are like fishermen..If the fish are out …we will catch some fish…and sometimes ( many times) as any good fisherman knows…the fish just aren’t out..

I know it is very tempting to read about John Paulson and David Einhorn who made fortunes shorting the subprime…and now are huge believers in gold. John Paulson put 40% of his fund in Gold. They are making huge bets…or predictions.. Maybe they will be right.. But what I am sure of…is every trend following commodity trading advisor will also be long gold if gold moves up. Just look at how many commodity traders are long sugar ( we are)..

With my years of experience… I truly believe it is much more prudent to let the markets tell us where they want to go…rather listen to a billionaire…I know I do not know the future…and I am humble…

Send For Our Free Report- The Right Trading System Changes Everything: Just fill out the form in the upper left corner.

Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

Tweet This Post