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The problem with using the e-mini as a quicker read on S+P prices, is that
it is impossible to distinguish between when it is doing its: 1. normal
3-10 second lead over regular S+P quotes ( I am not implying that emini
leads big s+p, just that the quotes usually do) or instead 2. When the
e-mini has the occasional drop of bid or offer, and strays from the big S+P
for a short period, but quickly bounces back. In short, I do not
recommend following the e-mini prices to trade the big SP.
Today's action in the e-mini is quite disturbing, considering how bids
completely evaporated for a bit after the fed announcement. I wonder
whether its due to lack of participation, or perhaps traders can't type bids
and offers quick enough into globex. It is definitely an issue that will
have to be resolved before we try e-trading on the big SP.
Chris Lober
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Thursday, October 15, 1998 8:01 PM
Subject: Re: E-Mini Quotes Lead S&P
>Whether I'm trading the e-mini or the spoo, the e-mini super quote is
always
>visible on my trading desktop. I note on occasion that when the S&P has a
>tick shortage that the e-mini keeps cranking. The b/a on the spoo is
useless
>while I can hit the b/a on the e-mini with LeoWeb almost without fail.
There
>are times however, when the e-mini will be priced .50-1.00 out of synch
with
>the spoo - often when the premium is at extremes.
>
>Earl
>
>-----Original Message-----
>From: Hinton Clabaugh <clabaugh@xxxxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Thursday, October 15, 1998 1:52 PM
>Subject: E-Mini Quotes Lead S&P
>
>
>>Right after the discount rate cut, the BMI cable E-Mini quotes were 10+
>>handles ahead of the big S&P. I've also been finding that watching the
>>E-Mini bid/ask and bid size/ask size gives a more timely quote than SP8Z
>>under normal conditions.
>
>
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