|
PureBytes Links
Trading Reference Links
|
So !!, the daytrading drumbeaters are creating a new demand for the seats
aaahhh....
uummm.......to take advantage of "lower transaction costs". Must have been the
last hurrah for those hardheaded existing owners (who should have known better,
okay they are/was stuck in their old paradigm)one last chance to get out while
they can, after they have (forced?!)accepted the fate of open outcry.
Make way! Make way! More lambs coming your way.............(then lease in the
future from these incoming new owners when they lose (give up)their daytrading
fantasy.)(even buy back later when the price is right in the not so distant future
(statistic of attrition
rate of new traders!!)(if less than a thousand apiece ,Hey, let's keep them as
souvenirs for our grandchildren of an old era!!) These probabilities are on the
side of the smart ones.
Haha! The old shell game. As full blooded traders, anything goes ......
Timothy Morge wrote:
> Clint:
>
> The price of all the Chicago seats have declined rapidly. Many of my
> friends that owned now lease, and when they are forced to choose between
> buying a new seat or trading upstairs, many will now go upstairs. Many
> floor traders see that the end of at least some of the open outcry pits
> is near--and with Merc seats cut dramatically in price and lease cost,
> there is simply lower demand for Mid-Am seats--simple supply and demand.
> By the way...there were quite a few years not oo long ago when the best
> play in the price of sugar was buying a seat--at less than
> $3000...prices fall and rise and fall and rise...
>
> Tim Morge
>
> Clint Chastain wrote:
> >
> > I have been looking into the MidAm as possible lower risk way to start
> > getting my feet wet in terms of trading commodities and futures.
> >
> > Smaller contracts, lower margin requirements, & longer hours all make it
> > seem very appealing to a commodities newbie. However, a couple of things
> > have raised my suspicions:
> >
> > 1) The volume and open interest figures seem rather underwhelming as
> > compared to some other markets. This appears to result in more gappy,
> > fly-specked charts which are more difficult for me to follow. Apparently
> > longer time frames are called for??
> >
> > 2) The price of a seat seems to be steadily declining - from about $15,000 a
> > little over a year ago to a just over $3,000 now. This raise two questions
> > in my mind: (a) Since the price of a seat is presumably a function of
> > demand, why are fewer and fewer people - apparently - interested in trading
> > at the MidAm? (b) Why do the authorities at MidAm not care that we know, or
> > possibly even intentionally want us to know, that the price of a seat is
> > falling?
> >
> > Any comments or experiences welcome.
> >
> > Clint
> >
> > | Just remember: wherever you go, well, there you are. - Buckaroo Bonsai
> > |
|