Energy Trading is going where?

Energy trading is here to stay. No shop cleaning house will change that.

RedHill:

JPM just fired 40 energy prop traders....Is this indicative of a new normal where energy trading is not so hot, or are those 40 just dudes from Sempra.

you got bad info. JP does not have 40 traders period.

and when did JP lead the energy game?

once cap and trade is passed, energy traders will be making it rain

http://dealbreaker.com/2010/07/prop-cuts-going-down-circa-now-at-jpmorg…

40 prop traders..ha. More like 40 back office.

i read same article and its bs. i was buying shots to a few of said "prop traders" two hours after this article was printed

Monty, JPM commodities is not just restricted to Houston. I mean they took about 500 ppl from Sempra globally.

Also, any cuts in Houston would've happened years ago not now.

C'mon. You're always looking to kick my ass jeez

Question though: JPM lost 120 mm trading coal...was this something out of London?

UPDATED: Further details emerge of J.P. Morgan cuts Further details have emerged of some of the dozens of positions J.P. Morgan eliminated yesterday from its global commodities business.

• SparkSpread

So it's not a rumor

They had a coal bet that went south to the tune of $130MM.

http://online.wsj.com/article/SB100014240527487033942045753673532799326…

I talked to one of my friends at JPM Commodities in Houston and she informed me that it was mostly BO people that got the axe (and of course the clown who lost 130 big ones).

FINREG has changed the rules. CFTC gains alot of power, how they use and distribute no one really knows.

Volatility will increase in certain regions, as yes some players will be running for the exit. Does this mean the industry is not as "hot" anymore? Depends how you look at it.