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Jim Gavey wrote:
<<The Listen Only Squawk internet service is inexpensive and they have a
free
trial.>>
You can access free squawk at:
http://www.lind-waldock.com/squawk/ramfiles/onhours.ram
Good trading,
The Omega Man (TM)
In between shows
-----Original Message-----
From: Jim Gavey <jimgavey@xxxxxxxxxxxxx>
To: RealTraders Mailing List <realtraders@xxxxxxxxxxxxxx>; Omega Mailing
List <omega-list@xxxxxxxxxx>
Date: Tuesday, October 06, 1998 2:25 PM
Subject: Trading from the Merc S&P pit
I've been trading the big S&P front contract since late 1994 but have never
visited the Mercantile exchange where actual trading takes place. I use
TradeStation with a BMI satellite feed. Earlier this year I subscribed to
Listen Only Squawk. This is a streaming internet service that verbally
reports the current bid & ask directly from an order desk close to the pit.
They also offer comments on support and resistance and what the big houses
and locals are doing and their size.
I spent last Friday with the founder of Listen Only Squawk standing next to
him as he read the hand signals in the pit and relayed them through his
internet service to his subscribers. Great experience. I'm now listening
to him as I write this note. I really feel like I'm in the pit. It's hard
to describe the benefits of this service but I'll try:
Being there. As I said I feel like I'm actually in the pit.
An edge as to what is or is about to happen. The background noise level
clearly indicates good trading opportunities. When it rises significantly
it usually means the market is taking off.
Confirmation that my data feed is working properly and a backup in case it
goes down. The bid ask is a little earlier than my satellite price feed but
generally not by much.
Useful information about who's doing what, what the bid and ask size is and
how full the pit is.
A new feature in beta testing is the ability to ask questions real time
like in a chat program and if appropriate get an immediate response.
This group also executes trades for selected customers and has a hedge fund.
The Listen Only Squawk internet service is inexpensive and they have a free
trial. I highly recommend it. By the way their service includes the Dow
and bond pit futures also. You press a button to switch between the
markets.
Anyone interested in checking them out can visit their web site at
www.los.net and/or call or e-mail Joe Perrone at 312-930-1231 /
jperrone@xxxxxxx
I have no interest in Listen Only Squawk other than being a satisfied
customer.
Have a great day. Jim Gavey
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