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Several months ago while in a stupor induced by profits from trading the
OEX options I came to believe that the option market was mine. I traded
larger quantities and watched as my BMI data feed told me the options
didn't even go against me as the market moved against me. When I went
to exit the market, several times, I got crushed on the current bid
supplied by etrade. It took me more than a couple of days to realize my
data feed was bad. I trade based on what the options are doing in
addition to the OEX. Well, I lost all my profits for the last 3 or 4
months, about mid five figures, a fortune to me. I called Bill Ingraham
at PC Quote and set up an internet feed in a little browser window
called PCQuotes 6.0 or something. Watching BMI update TS 4 and PCQuote
in the window I found BMI wasn't updating at the opening and during fast
markets, on the options. Not last trade let alone the bid and ask.
They denied it. Later I found out BMI can't display a proper quote on
bid and ask if the spread is over 15/16's. Now they just add 15/16's to
the bid when this happens. I see it all day. PCQuote updates from 1 to
10 seconds faster than BMI on all quotes most of the time from my casual
observations. Both BMI and PC Quote come in over my fiber optic cable
TV service. The PC Quote is over the internet (At Home.com) and BMI is
Cable modem on one of the channels, 59 here, in the vertical blanking.
BMI is reliable in that they work nearly all the time as is PC Quote. I
like it better than Satellite because of the storm interference and the
occasional F111 or F16 or something flying around. The stock feed is ok
on BMI but they don't have the bandwidth to supply all the quotes they
offer so they buffer the options and who knows what else. I'm getting
long winded, but I will get away from BMI soon. If my hand hadn't
cramped up adding charts to TS 2000i I would be able to quit them
tomorrow.
Jimmy
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